📣Transnational financial conglomerate JPMorgan forms a promising partnership with crypto exchange Coinbase…

📣Transnational financial conglomerate JPMorgan forms a promising partnership with crypto exchange Coinbase…

The result: new opportunities for Chase’s 80 million customers, who can now purchase crypto instantly.

(For context, Chase is the retail banking and credit card brand of JPMorgan Chase & Co in the United States🇺🇸 and the United Kingdom🇬🇧)

➡️ By the end of 2025, the partnership will enable credit card funding of accounts, while in 2026, bank account linking and redeeming Chase points for stablecoins will become available.

➡️ Reports also indicate that the bank is exploring lending options backed by customers’ bitcoin and ether holdings, as well as expanding its collateral offerings to include crypto ETFs (such as BlackRock’s iShares Bitcoin Trust).

➡️ Furthermore, JPMorgan is increasingly adopting blockchain infrastructure. This is evidenced by the recent launch of JPMD — a tokenized deposit on the Base platform, backed 1:1 with USD. The token, introduced on July 18, represents JPMorgan’s latest tool for digital payments.

➡️ Context: these developments are largely driven by regulatory changes and a restructuring of the U.S. financial system. One significant move was the integration of the Office of the Comptroller of the Currency (OCC) into the Federal Reserve and the FDIC, now allowing regulated U.S. banks to buy, sell, and custody crypto assets.

#news #USA #crypto

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