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In July 2025, J.P. Morgan Chase and Coinbase announced a new partnership. For those unfamiliar, Coinbase is a cryptocurrency exchange where you can buy, sell, and store digital currencies such as Bitcoin and Ethereum. What does this new partnership mean for Chase credit card holders? Here's what to know.
Use Chase Accounts To Buy Cryptocurrency
The partnership is launching with three main features, all designed to simplify the process of funding your Coinbase account.
- Direct Bank-to-Wallet Connection: Fund your Coinbase wallet by linking your Chase bank account.
- Use Chase credit cards on Coinbase: Fund your Coinbase wallet using a Chase credit card. It's not yet clear whether this will be considered a cash advance, which would result in high fees.
- Transfer Chase Ultimate Rewards Points: The biggest feature for Chase credit card holders is the ability to transfer Chase Ultimate Rewards points to your Coinbase account. This is the first time you'll be able to fund a crypto wallet using a major credit card rewards currency.
So, you'll be able to buy crypto through your linked checking account, credit card, or using your credit card rewards. If all goes as planned, you'll be able to use your Chase credit card to fund your Coinbase account starting in the fall of 2025. The ability to link your checking account and transfer your Ultimate Rewards points should go live in 2026.
This announcement is the latest in a string of moves by Coinbase to infiltrate the credit card market. The Coinbase One Card, issued by Cardless and operating on the American Express network, will also be released in the fall.
What's Missing From This Announcement
On the surface, this partnership sounds like a win for consumers: more flexibility, more access, and more ways to use rewards. But the devil is going to be in the details of this new partnership between Chase and Coinbase. And those details are missing from this initial announcement.
What will the rate be for converting Chase Ultimate Rewards points into crypto? If cardholders get just one cent per point, there will be no benefit to this redemption option over simply cashing out points for a statement credit. Even if the rate is better than one cent per point, you're still likely to get more value by transferring Ultimate Rewards points to travel partners — especially for premium cabin redemptions or high-value hotel stays.
Also, how will crypto purchases code on Chase credit cards? If these transactions are coded as cash advances, they will trigger fees while earning no rewards. If they code as purchases, the 1x rewards earning rate may not be enough to justify paying Coinbase fees.
Finally, it’s worth considering why Chase is doing this at all. JPMorgan Chase has historically been cautious — even critical — of the crypto sector. Partnering with Coinbase now signals a change in tone, but it’s just as much about positioning as it is about consumer benefit. This move helps Chase tap into a younger, crypto-curious demographic — but that doesn't mean it's the best use of your hard-earned rewards.
Bottom Line
The Chase and Coinbase partnership is certainly interesting. If you're crypto-curious, being able to fund your Coinbase account directly from a Chase card could be convenient. That said, just because you have access to a new redemption option doesn't mean that you should use it. Buying cryptocurrency with Chase Ultimate Rewards points likely won't be a lucrative solution. Keep an eye out for more information about the partnership in the coming months.
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