Coinbase Teams Up With Amex for First Bitcoin Rewards Credit Card

Coinbase has partnered with American Express to launch the Coinbase One Card, offering up to 4% Bitcoin rewards on purchases and expanded crypto benefits as part of its growing payment ecosystem Revealed during the company’s State of Crypto Conference, the product is part of Coinbase’s broader effort to integrate cryptocurrency rewards into everyday spending. The card is being issued by First Electronic Bank and operated through Cardless, with rewards and benefits tied directly to the Coinbase platform. Bitcoin and Stablecoin Rewards Built In The Coinbase One Card will offer users the opportunity to earn up to 4% back in Bitcoin on all purchases, making it one of the more competitive crypto reward offerings in the market. Beyond Bitcoin rewards, the card promises additional perks for those who hold USDC stablecoins, including boosted rewards and higher staking returns. Users who transact on Base, Coinbase’s proprietary Ethereum layer-2 network, will also benefit from enhanced staking rewards and transaction credits. Coinbase’s website emphasized that these incentives are designed to reward both new and existing users for integrating crypto into daily financial activity. The company elaborated, “We believe crypto should be for everyone, which is why we’re introducing the Basic tier of Coinbase One: for just $4.99/month or $49.99/year, members can access bitcoin rewards on purchases, zero trading fees, boosted staking rewards, and the exclusive partner benefits that our community has come to love.” Exclusive Access and Partner Benefits In addition to crypto-related rewards, the card grants access to American Express’s established network of benefits, including curated experiences, promotional offers, and purchase protections. Coinbase has opened a waitlist for interested users, signaling strong demand for the product ahead of its full release. American Express Reaffirms Crypto Commitment This isn’t American Express’s first foray into crypto. In 2022, it partnered with Abra to issue a credit card offering crypto rewards. Commenting on the Coinbase partnership, Luke Gebb, Executive Vice President at Amex Digital Labs, expressed confidence in the future of digital assets, stating, “Our focus is on practical, compliant applications that create long-term value for customers. The new Coinbase One Card will benefit from Amex’s secure, innovative network, designed to deliver trusted, seamless experiences for Card Members in an evolving payments landscape.” A Growing Crypto Payments Market The announcement comes amid a rising trend of crypto platforms partnering with traditional payment networks to enable the spending of digital assets. Coinbase’s move follows similar initiatives from competitors like MetaMask, which introduced a self-custodial debit card last year, and Mastercard, which in April revealed plans to launch crypto debit cards in collaboration with OKX and Kraken. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice

Source: Crypto Daily