JPMorgan Links Directly to Coinbase in $4T Crypto Access Push

Coinbase Gains Direct Access to JPMorgan Banking Data

In a landmark partnership, JPMorgan and Coinbase are teaming up to offer users a direct connection between Chase bank accounts and Coinbase wallets. The move eliminates the need for third-party data aggregators like Plaid, MX, and Akoya, which have long served as intermediaries between banks and crypto apps.

Set to launch in 2025, this new link allows Coinbase to pull user data straight from JPMorgan, streamlining account funding and accelerating transaction times. It also arrives just as JPMorgan prepares to start charging fintechs hefty new fees for data access—something that used to be free.

So while Coinbase gains a shortcut to Chase user data, other banks will still be accessed via traditional aggregators.

JPMorgan’s Price Tag on Data Access Looms Large

Earlier this year, JPMorgan began circulating pricing sheets to data firms, proposing new charges for accessing bank data. These usage-based fees could end up costing fintech companies hundreds of millions annually. The steepest fees target payment services, creating tension across the financial tech space.

Although JPMorgan hasn’t confirmed when these fees will go live, regulatory delays have slowed rollout. A rule from the Consumer Financial Protection Bureau (CFPB) that would block banks from charging for customer data access is currently paused by a federal judge.

That delay leaves JPMorgan in control of its own timeline, and it’s unclear whether other crypto companies will receive direct access agreements like Coinbase’s.

Chase Cards and Reward Points Go Crypto

The partnership doesn’t stop at bank access. Starting this fall, Chase credit cards will be supported directly on Coinbase, enabling customers to fund wallets instantly. Even more notably, Chase rewards points can soon be used to buy crypto, opening up a new mainstream on-ramp to digital assets.

This feature is part of Coinbase’s larger push into traditional banking, which also includes early-stage talks with PNC Bank to offer crypto trading services to high-net-worth clients.

The alliance between a $4 trillion bank and the largest US crypto exchange reflects growing convergence between legacy finance and digital assets.

Not Everyone Is Happy About JPMorgan’s Strategy

The bold move hasn’t escaped criticism. Tyler Winklevoss, co-founder of Gemini, accused JPMorgan of retaliatory behavior after pausing Gemini’s onboarding. He posted on X:

JPMorgan didn’t directly respond to Winklevoss, but a spokesperson defended the bank’s practices:

Despite the backlash, the Coinbase deal signals JPMorgan's increasing involvement in crypto infrastructure, even as it tightens control over how data is shared and monetized.