JPMorgan, Coinbase Ink Deal to Link Bank, Crypto Accounts (1)

JPMorgan Chase & Co. and Coinbase Global Inc. signed an agreement to directly link customers’ bank accounts to their cryptocurrency wallets, as banks and fintechs clash over who has access to consumer data and at what cost.

The connections between Chase bank accounts and Coinbase crypto wallets are expected to go live next year, according to a statement Wednesday.

By establishing this type of direct relationship with a bank, financial-technology companies could cut out data aggregators such as Plaid Inc., MX Technologies Inc. or Akoya, which have traditionally served as behind-the-scenes connectors between the companies and banks.