JPMorgan Chase is making its boldest move into crypto yet through a strategic partnership with Coinbase. Starting this fall, Chase credit card holders will be able to buy cryptocurrencies directly on Coinbase using their cards. In a first-of-its-kind move, the bank is also planning to let customers redeem Chase Ultimate Rewards points for USD Coin (USDC) beginning in 2026.

Coinbase confirmed that this will mark the first time a major credit card rewards program will offer crypto redemption options. The platform also revealed that Chase card users will be able to link their accounts directly to Coinbase in 2026, simplifying crypto purchases for millions of customers.

This collaboration highlights JPMorgan’s accelerating entry into the digital asset space. Just weeks ago, CEO Jamie Dimon said the bank is working on stablecoin initiatives, including both its proprietary JPMorgan deposit coin and broader stablecoin support. He emphasized that competition with fintech players is driving JPMorgan to take crypto seriously.

JPMorgan’s ambitions extend even further. According to a July 22 report from the Financial Times, the bank is exploring crypto-backed loans using Bitcoin and Ethereum as collateral. If approved, the lending program could launch as early as 2026, though no final decisions have been made.

Despite JPMorgan’s growing interest in crypto, decentralized finance (DeFi) platforms still maintain key advantages. 1inch co-founder Sergej Kunz noted that DeFi offers more flexibility in loan collateral and significantly lower fees, thanks to its market-driven models.