JPMorgan Chase & Coinbase have announced a strategic partnership:
- Purchase cryptocurrency using a Chase card (this will be treated as a cash advance and incur cash advance fees)
- Link Chase bank account directly to Coinbase
- Transfer Chase Ultimate Rewards points to USDC on Coinbase
Purchasing cryptocurrency will go live in 2025 and the other two will be live in 2026. It’s unclear how much Ultimate Rewards points will be worth when transferring to Coinbase, but I’d be surprised if we saw a favorable rate. My guess is somewhere in the 0.7¢ – 1¢ per point range. Don’t think any of these features will actually be particularly useful given the cash advance fees, but you never know.
Jamie Dimon is so full of shit. Didn’t he say “They are decentralized Ponzi schemes”. Go ahead and fact check.
crypto is a very strange animal. In a sense, if Dimon actually said that (and I don’t know if he actually said that or not) it IS a Ponzi scheme. There’s crypto coins that are worth. $0.000002 cents. To me that means zero, yet people invest money in them and trade them. On the other hand, crypto enables cross border payments where it can be turned back into real money. So I’m not quite sure what crypto is. But I know that there’s a purpose for it somewhere out there. I’m just not sure what it is. I’d be very careful if dabbling this arena because even some of the bigger exchanges went bust. But I think there is probably a use for crypto in this world…somewhere. We need Satoshi Nakimoto to guide us.
Oh, he did! I have some BTC that I “accidentally” bought–funny story, but I never sold it, and it is worth way more now. Back then, people at work loved to tell me what Dimon said. I looked up his negative comments. But these days, with BTC topping $100K and holding (HODL-ing) strong, as well as the power to send money to countries where currency has tanked (e.g. Venezuelans were able to send money to family via BTC–don’t know a lot, just some folks who were grateful for that chance).
It is funny seeing the turnabout, but Dimon also isn’t stupid. People’s views have to evolve with the times (and economy) after all–unless they want to be made redundant.
Nonetheless, I doubt I would use my Chase cards for anything that incurred a cash advance fee, short of an actual emergency, which has not ever happened.
It’s interesting to watch the seeds of the next financial crisis being planted in real time, isn’t it?
That’s a big 180 for Chase. Jaime Dimon called bitcoin a scam in the past, now they’re partnering with coinbase? I guess somebody got the skids greased
USDC? thought they gonna do their own ChaseCoin
omg. FUCK YOU chase.
everyone should clearly know that its CEO literally called out BTC as a fraud, decentralized ponzi scheme, and zero intrinsic value. they also shutdown shitload of accounts for anything related to crypto txns. but now this.
i see you chase RAT. i dont play your fucktard games. i pass on this. dont need eyes on my accounts.
pple should be careful w/ this play. altho USB takes guinness world record for largest dumbass bullshit bank, but chase is a ninja. kills u in the shadows.
Have you tried therapy or anger management?
Calm down, Jordan Professional MSer.
Crypto bros unite! By the power of FOMO we summon useless-currency-hype!
But really, I was just thinking about how it is unfortunate you cannot buy crypto with a CC because that would be a very good way to “breakout”. Right, buy a bunch of crypto with CC and just bail? … Argentina is just right down there, crypto spends ok there I hear.
back in 2017, we were killing it on coinbase by hitting all the chase CC SUBs buying bitcoin and selling on the run up. They quickly ended that
Even JP Morgan has fomo
This is odd as Coinbase is partnering with American Express for their credit card.
Come one, come all! Bring all the liquidity you are willing to give me.
Oh, I’d been hoping they’d add this!
Said nobody.
A lot of Bitcoin haters in here for something that has proven people wrong time and time and time again. Its only fake cause you dont own it. RIP