J.P. Morgan plans Coinbase wallet integration…"Pursuing 'AND strategy' running internal and public blockchains in parallel"

J.P. Morgan unveiled plans to integrate with the Coinbase wallet in 2026 and is set to actively pursue cryptocurrency (virtual asset) trading services. The firm aims to lay the groundwork for entering the digital asset market worth trillions of dollars through an 'AND' strategy that runs internal blockchains and public blockchains in parallel.

On the 14th (local time), Scott Lucas, J.P. Morgan head of global markets and digital assets, who appeared on CNBC Squawk Box Europe, said, "We are taking an 'AND' approach that seeks opportunities in both existing financial markets and new markets," adding, "We will proceed in parallel rather than be limited to a single path."

J.P. Morgan is processing institutional client trades through its deposit token 'J.P.M.D.' and is also considering issuing a stablecoin within a clear regulatory environment. Lucas said, "We plan to collaborate not only on transactions using our internal blockchain but also with Ethereum and layer-1 networks being developed by Google, SWIFT, Stripe, and others."

J.P. Morgan does not plan to offer cryptocurrency custody (safekeeping) services in the short term, though it has left open the possibility depending on market conditions and its level of risk management. Lucas said, "CEO Jamie Dimon is also positive about participating in the trading side, but custody services are not yet under consideration."

Immediately after the interview, J.P. Morgan shares traded up 2.35% at 307.97 dollars, reflecting investor optimism. In particular, the stock rally was bolstered by news that a bank integration service directly connecting to the Coinbase wallet is planned for launch starting in 2026. This service will allow users to top up the Coinbase wallet via bank accounts or link and use credit card reward points.

Having once been skeptical about cryptocurrencies, CEO Dimon has recognized the value of blockchain and stablecoins, and J.P. Morgan is exploring strategic expansion into decentralized finance (DeFi). Lucas said, "J.P. Morgan will seize the coming trillions-of-dollars digital asset opportunity by combining its own infrastructure with public networks."