The card will offer up to 4% bitcoin ( BTC) back on purchases. Coinbase and fintech company Cardless are offering the card, while First Electronic Bank will issue it. The announcement on Thursday notes that the bitcoin rewards are a central feature of the new product.
The new Coinbase One Card.
Access to the Coinbase One Card will be exclusive to Coinbase One members residing in the United States. The company opened a waitlist at coinbase.com/creditcard and stated further details about the card will be released this fall.
American Express executives highlighted the partnership’s strategic nature. Will Stredwick, SVP of Global Network Services at American Express, said the card combines “The Coinbase One Card will offer crypto rewards alongside unique benefits, offers, experiences, and protections through the American Express Network.”
Luke Gebb, EVP of Amex Digital Labs, described crypto and blockchain as “part of the evolving financial infrastructure” with the potential for faster value movement. Gebb stated Amex focuses on “practical, compliant applications.”
The announcement aligns with American Express’s stated strategy of selective investment in payment innovation, including infrastructure and partnerships. At the same time, Coinbase revealed its new Coinbase Business suite aiming to be the “all-in-one crypto account for modern companies.”
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