Customers of Chase Bank now have the option to pay their credit card, loan, or mortgage balances in crypto.
In a major step forward for the financial industry, Chase Bank, a division of JP Morgan Chase, has partnered with FCF Pay, a Canadian blockchain payments processor, to accept cryptocurrency payments for credit card, loan, and mortgage payments.
Chase Bank is the latest financial institution to investigate the potential of incorporating digital currency into its offerings.
Chase Bank clients now have the option of utilizing several other cryptocurrencies and stablecoins to make purchases thanks to this new relationship. These include Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB), Ripple (XRP), Dogecoin (DOGE), Binance Coin (BNB), and USD Coin (USDC), to name a few.
It’s important to note that despite appearances, Chase Bank’s fundamental attitude toward cryptocurrency has not changed despite this latest development. Customers’ cryptocurrency payments are processed through FCF Pay, while final settlements with Chase Bank occur in fiat currency via an off-ramp solution.
Communications Vice President at Chase Bank Justin K. Page underlined that Chase does not directly take cryptocurrency for mortgage payments, loans, or credit card payments. The official stance of the bank has not changed; it has no connection to FCF Pay.
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