Chase Bank, a subsidiary of JP Morgan Chase, partners with FCF Pay, a Canadian blockchain payments processor, to offer customers the option of paying mortgages and other bills using popular cryptocurrencies.
In a noteworthy development in the financial world, Chase Bank, a subsidiary of JP Morgan Chase, has joined forces with FCF Pay, a Canadian blockchain payments processor, to provide customers with the ability to pay their credit card bills, loans, and even mortgages using cryptocurrencies.
This move positions Chase Bank among the growing number of financial institutions exploring the incorporation of digital currencies into their services.
Under this partnership, Chase Bank customers can make payments using a range of popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB), Ripple (XRP), Dogecoin (DOGE), Binance Coin (BNB), as well as stablecoins such as Tether (USDT) and USD Coin (USDC).
It’s important to clarify that while this offers expanded cryptocurrency payment options, Chase Bank’s core stance on crypto remains unchanged. FCF Pay processes these crypto payments on behalf of customers, with final settlements with Chase Bank made in fiat currency through an off-ramp solution, ensuring adherence to traditional financial frameworks.
Justin K. Page, Communications VP for Chase Bank, reiterated that the bank does not directly accept cryptocurrencies for mortgage payments, loans, or credit cards. Chase’s position remains unaltered, and it has no direct affiliation with FCF Pay.
Chase Bank’s venture into cryptocurrency payments aligns with other major financial institutions embracing blockchain technology, further demonstrating the sector’s support for blockchain adoption.