Jamie Dimon once called bitcoin “hyp-up fraud”. Now, his bank is rolling out Fiat-to-Crypto Rail with a coinbase. This step indicates a seismic change of how the biggest players of Wall Street see digital assets.
Summary
- JP Morgan and coinbase are partnered to direct bank-to-wallet crypto transfer, loyalty point conversion and credit card funding.
- The step is a major reversal from CEO Jamie Dimon’s first bitcoin stance and indicates deep integration of the wall street with crypto.
On July 30, JP Morgan Chase and Crypto Exchange Coinbase launched a partnership, which effectively stitches transactive banking in crypto ecology. The deal gives the chaase to customers a direct way to transfer cash, credit, and even credit card rewards to the coinbase wallet, ignoring the ship on a headache.
Starting in 2026, users can connect the director of chase accounts to the coinbase via API, while the chase ultimat will be converted to 1: 1 in the reward points crypto, the companies said in the statement. Later this decline, Chess Credit Card will also be enabled for coinbase funding, the first for a major American bank.
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The initiative is being billed by JP Morgan officials as a motor towards finance empowerment. Melissa Feldsher, who leads the bank payment and lending innovation, described the partnership as a fundamental change of how customers interact with both their money and their data.
“By joining the forces with the coinbase, we are increasing the safety and privacy of our customers’ data, allowing them to use their money and awards in new and exciting ways. The loyalty program in the industry, our customs, our customs can now originally and safely change their points in cryptocurrency,” said Feldshar.
JP Morgan’s partnership with the coinbase is a sharp philosophical axis for the bank and its officials. In 2017, CEO Jamie Dimon Jamie Dimon called Bitcoin ‘fraud’ and jokingly said that it was only good for drug deals.
He was about eight years ago. Rapid forward for today, and JP Morgan Boss’s bank is rolling out the red carpet for Crypto, allowing customs credit cards to buy digital assets with bank transfer. The message is clear: Crypto is no longer a fringe expert. It is a feature of modern finance.
Beyond the coinbase deal, JP Morgan’s crypto ambitions are wide. Earlier this month, reports came out that the bank was searching for crypto-supported loans, which was powerfully allowing customers to borrow to other asset asset holdings.
The service is craved by Crypto-Mool lenders, but is unprecedented to a traditional banking giants. If applied, it wants another milestone to accelerate the wall street alert but blockchain-based finance.