JPMorgan Chase (JPM) has teamed up with Coinbase (COIN) to make cryptocurrency more accessible to its 80 million customers. The partnership combines JPMorgan’s banking services with Coinbase’s crypto expertise to boost crypto adoption. Also, it reflects JPM’s rising interest in digital assets.
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Starting later this year, Chase credit card users will be able to add money to their Coinbase accounts directly, making it easier and faster to buy digital assets. Further, by 2026, JPM plans to let users link their Chase bank accounts directly to COIN wallets through a secure API, allowing smooth transfers between bank and crypto accounts.
Interestingly, the bank’s customers will also be able to convert their Chase reward points to USDC, a stablecoin tied to the U.S. dollar, at a 1:1 ratio. JPMorgan will be the first big U.S. bank to turn loyalty points into digital currency.
JPMorgan’s Expanding Crypto Footprint
This partnership is part of JPMorgan’s broader move into digital assets. The bank has launched JPMD, a deposit token built on Coinbase’s Base blockchain, to help institutional clients settle transactions and make cross-border payments.
It is also exploring crypto-backed loans, with plans to offer lending against Bitcoin and Ether by 2026. Meanwhile, JPM’s blockchain unit, Kinexys, is building tools for token-based settlements, aiming to become a leader in stablecoins and blockchain-based finance.
These moves come as CEO Jamie Dimon’s stance on crypto has softened. He recently said, “I defend your right to buy Bitcoin,” marking a shift from his earlier criticism of the cryptocurrency.
Is JPM a Buy, Hold, or Sell?
Turning to Wall Street, JPM stock has a Moderate Buy consensus rating based on 11 Buys, five Holds, and two Sells assigned in the last three months. At $307.20, the average JPMorgan price target implies a 2.99% upside potential.
