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The news: JPMorgan Chase and Coinbase partnered to offer Chase's customers new ways to access crypto. This fall, customers will be able to link Coinbase directly to their bank accounts, buy crypto with Chase credit cards, and convert rewards points to USDC, per a press release. Why this matters: This partnership is a big step toward bridging the gap between traditional finance and crypto. By letting customers use their credit cards to buy crypto or redeem their Chase Ultimate Rewards points for USDC, the companies could accelerate crypto adoption. It鈥檚 also another salvo from JPMorgan against data aggregators and open banking firms after the bank announced that it would charge these companies to access customer data鈥攑articularly around payments. JPMorgan is integrating directly with Coinbase rather than using APIs from a company like Plaid.

The news: U.S. Bancorp has restarted its digital asset custody services for institutional clients after the Securities and Exchange Commission (SEC) rolled back a rule requiring financial institutions (FIs) to hold capital for cryptocurrency-related activities, per Bloomberg. Our take: This development isn鈥檛 surprising given recent pro-crypto regulatory changes. A major FI like U.S. Bancorp diving back in shows there's a real business imperative too, driven by institutional demand. While crypto-native firms like Coinbase have dominated the custody space, the entry of banking giants will heighten competition in the market. While custodying is less risky than holding assets on the balance sheet, it still exposes banks to regulatory and reputational challenges. Even so, these offerings give banks a way to tap younger investors who have been eager for alternative products.

The news: Coinbase will launch its first credit card on the American Express network this fall. Our take: This card could be a strong retention play to keep existing users from using an alternative crypto exchange but likely won鈥檛 move the needle on broader adoption.

The news: Shopify partnered with Coinbase and Stripe so customers can pay with the USDC stablecoin at checkout. Our take: Coinbase is the biggest winner in this partnership. Cryptocurrency needs to gain traction with a wide merchant network to accelerate its use, and Shopify represents a huge score for Base.

The payments giant also deepened its tie-up with Coinbase to make buying and using the asset more accessible

Or, it may have to form a direct tie-up with JPMorgan like Coinbase did鈥攑otentially eroding its own income or degrading the user experience. This content is part of 蘑菇AV鈥檚 subscription Briefings, where we pair daily updates with data and analysis from forecasts and research reports.

How it works: Pay with Crypto enables merchants to make and accept payments with over a hundred cryptocurrencies and digital wallets like Coinbase and MetaMask, with immediate conversions to stablecoin or fiat currency through PayPal鈥檚 existing platform. What鈥檚 the value: Merchants lose millions of dollars in foreign transaction fees annually.

If these fees do go into effect, players like PayPal, Robinhood, and Coinbase could incur devastating setbacks to their revenue and operations鈥攁nd dramatically reduce the services they鈥檙e able to offer customers. Regulatory advantage: The Consumer Financial Protection Bureau (CFPB) is planning to repeal the Biden-era Section 1033 open banking rule, according to legal filings.

The open banking field in the US will get smaller, and the remaining companies will either seek deals with individual banks鈥攍ike Coinbase got with JPMorgan鈥攐r find new ways to monetize their services to offset higher costs.

Shopify partnered with Coinbase and Stripe to expand stablecoin retail payments. Target integrated with Shopify last year so that merchants can apply to appear on the Target Plus online marketplace. Shopify also acquired Vantage Discovery, a generative AI (genAI) company, to deliver personalized search results for consumers on Shopify merchants鈥� storefronts.

Trading and investment fintech revenues grew 21%, driven by crypto exchange Coinbase. Insurance fintechs measured 40% growth, while only comprising less than 1% of global revenues. Size of the prize: Out of the approximately 37,000 fintech globally, scaled fintechs鈥攖hose earning more than $500 million in revenues鈥攁ccount for 60% of total global fintech revenues.

PayPal expanded its partnership with Coinbase in April to explore new stablecoin-based payments and banking solutions. This builds upon PayPal and Venmo鈥檚 P2P stablecoin-based checkout and P2P payment capabilities. World Network, OpenAI CEO Sam Altman鈥檚 crypto project, is reportedly in talks with Visa to launch a stablecoin payments wallet.

The SEC stepped up its crackdown on crypto after filing civil charges against Coinbase and Binance.

PayPal is exploring new stablecoin-based payment and banking solutions in collaboration with Coinbase. World Network, Sam Altman鈥檚 crypto project, is reportedly in talks with Visa to launch a stablecoin payments wallet. Customers aren鈥檛 widely on board yet, but FIs still need to act. Most consumers still distrust cryptocurrency in general.

Coinbase told BankingDive that it has been 鈥渧ery busy meeting demand for banks, brokers and fintechs鈥� as federal regulators walk back implicit and explicit limits on banks鈥� crypto activity. SoFi expects to 鈥渆xpand beyond [crypto] investing鈥� once Congress passes a long-anticipated stablecoin bill, per CNBC. Bank of America said it may also launch a stablecoin after Congress passes legislation.

The news: Google Cloud is creating its own blockchain, named Google Cloud Universal Ledger (GCUL), for payments and financial products. Our first take: The post-GENIUS Act environment has major institutions scrambling to get a first-mover advantage on stablecoins. Google likely is betting that it鈥檚 better positioned to offer clients and financial institutions than Stripe鈥檚 Tempo or Circle鈥檚 Arc because its blockchain service simplifies integration for multiple currencies and assets, stabilizes fees, and is designed for safety鈥攁s a private and permissioned system, it benefits from Google鈥檚 tech security stack.

Under Trump, the SEC has already established a Crypto Task Force to develop a regulatory framework and has dropped lawsuits against major crypto players like Coinbase and Ripple. An executive order establishing a Strategic Bitcoin Reserve further signifies the government鈥檚 commitment to crypto. Stablecoin hype will boost crypto payments.

Custodial (third-party custody): Offered by exchanges (Coinbase, Gemini) and institutional custodians (BitGo, Anchorage), providing security, insurance, and compliance. Self-custody: Users hold their private keys, ensuring full control but carrying risks such as lost access leading to irreversible losses. BNY Mellon, Fidelity, and State Street have already entered the custodial space.

Late last year, the company hired Kate Rouch as its first CMO; Rouch previously worked as CMO at Coinbase, where she led its debut at the Super Bowl. OpenAI also unveiled a new logo earlier this week. Why now? OpenAI鈥檚 Super Bowl spot coincides with the company removing its login requirement for ChatGPT Search, a major step toward competing in the search landscape dominated by Google.

The news: Stripe asked the Consumer Financial Protection Bureau (CFPB) to preserve fee-free open banking as the agency revises Rule 1033. Our take: For now, Section 1033 will remain in place. But as rulemaking proceeds, Stripe鈥檚 appeal to the CFPB may fall on deaf ears. The new rule will likely be a defanged version of its predecessor. We expect more firms will pursue Coinbase鈥檚 route鈥攃arving out individual deals with JPMorgan鈥攐r close up shop like Visa.

Most 鈥渃rypto鈥� cards, for example, like the Coinbase Visa debit card or Mastercard鈥檚 crypto debit and prepaid cards, don鈥檛 actually conduct crypto payments: They liquidate a portion of the user鈥檚 holdings and then transact in dollars. Cash is stickier than checks. Cash has been permanently relegated to a second-tier retail payment method.

Coinbase spent the next year in court trying to set right a case for anti-money laundering protocols and by the next Super Bowl 2023, there were no crypto ads. Mr. Dellinger also pointing out that something similar happened back in 2000 when the Super Bowl was inundated with dot-com company ads only for the bottom to fall out of the industry later that year.

She then worked as CMO of cryptocurrency exchange Coinbase, elevating its brand to Super Bowl exposure. OpenAI and advertising: News of the hire comes days after OpenAI CFO Sarah Friar accidentally let slip that the company is exploring advertising as a potential revenue stream.