Coinbase + JP Morgan šŸ¤

JP Morgan and Coinbase have inked a deal that'll allow Chase customers bank-to-wallet access. But at what cost?

šŸ“ What you need to know

Starting next year, Chase customers will be able to directly link their bank accounts to their Coinbase wallets and convert credit card points into cash for their crypto wallet. (Swapping points for Bitcoin rolled out for SBI customers in Japan a few weeks ago.)

But before all that: Users will be able to fund their Coinbase accounts with their Chase credit cards.

The deal "marks a significant step forward in empowering our customers to take control of their financial futures,ā€ said Melissa Feldsher, Head of Payments and Lending Innovation for JPMorganChase, in a statement shared with Decrypt.

But there’s at least one notable detractor: Bloomberg analyst Eric Balchunas called out the 1.4% commission that Coinbase charges on transactions on X. ā€œShould just launch a JPM Bitcoin ETF (or pick existing one) and put them in that (1-2bps),ā€ he added.

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