Coinbase and Amex launch the Bitcoin Rewards Card

Crypto exchange Coinbase has partnered with American Express to launch Coinbase One, a new crypto-powered debit card. Coinbase shared the news in a tweet on Friday, June 13.

Scheduled for this fall, Coinbase One users will enjoy up to 4% rewards in Bitcoin on every purchase made with the card. Notably, the launch marks a significant step towards merging traditional finance and digital currencies.

How will the card work?

The card operates on the American Express network and is designed to make everyday spending an opportunity to accumulate Bitcoin. Users will start at a 2% bitcoin reward rate, with the potential to climb to 4% based on the amount of crypto they hold on Coinbase.

In a nod to crypto’s roots, the metal card will feature an engraving from Bitcoin’s genesis block, celebrating the origin of the world’s first cryptocurrency. Beyond rewards, cardholders will gain access to exclusive American Express perks, including offers, protections, and curated experiences.

As part of this initiative, Coinbase is also introducing a more affordable Basic tier of its Coinbase One subscription, priced at $4.99/month or $49.99/year. The new tier includes access to the Coinbase One Card, up to 4.5% APY on USDC (up to $10,000), zero trading fees of up to $500 in monthly volume, and security coverage for up to $1,000 in unauthorized crypto activity.

The new Coinbase card is only available in the U.S. As of this writing, it is unclear if the card will have an annual fee. However, Coinbase plans to share more details as the launch approaches.

A Step Forward for Crypto

Most crypto users see the new Coinbase card as a great alternative to the Gemini card. While little is known about the new Coinbase card, many within the crypto community see it as an easy way to earn Bitcoin rewards.

Both cards are part of a growing trend of crypto companies launching branded cards for fiat payments. OKX, a major crypto exchange, has already partnered with Mastercard for swift stablecoin payments. These cards help integrate digital assets into daily life.

Disclaimer

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