Key takeaways
- Coinbase partners with American Express to launch the Coinbase One Card, offering Bitcoin rewards.
- The card is exclusive to Coinbase One premium subscribers, targeting nearly one million users.
- Users earn 2% to 4% Bitcoin cashback, with higher rates for larger crypto holdings.
- American Express (Amex) provides payment processing and benefits like exclusive experiences and purchase protections.
- Coinbase introduces a $4.99 Basic subscription tier with zero trading fees and card access.
Coinbase Launches Bitcoin Rewards Credit Card
Cryptocurrency Exchange Coinbase has partnered with American Express to launch its first branded credit card, marking a significant expansion into traditional financial services. The Coinbase One Card will offer subscribers Bitcoin rewards on everyday purchases while leveraging Amex’s established payment network.
Exclusive Access for Premium Subscribers
The credit card will be available only to US members of Coinbase One, who pay monthly fees to access the enhanced features of the platform. Nearly one million users currently subscribe to this premium service, which is a substantial potential customer base for the credit card.
Coinbase invited members to sign up on a waitlist to be notified when the credit card is available. “Whether you’re buying groceries or booking a trip, the Coinbase One Card lets you earn rewards in bitcoin, making everyday spending more rewarding than ever,” Coinbase said.
Rewards As Per Bitcoin Holdings
The Coinbase One Card delivers 2% to 4% Bitcoin cashback on all purchases, with reward rates tied directly to users’ cryptocurrency holdings on the platform. Customers holding larger asset balances receive higher reward percentages, incentivizing increased platform engagement.
Beyond Bitcoin rewards, cardholders access enhanced benefits within Coinbase’s ecosystem. The card provides boosted rewards on USDC stablecoin holdings and increased staking rewards on Base, which is the Ethereum layer-2 network of Coinbase. Transaction credits on Base further sweeten the offering for active users.
Combining the Benefits of the American Express Network
American Express powers the card’s payment processing and extends its traditional cardholder benefits to Coinbase customers. These include access to exclusive experiences, merchant offers, and purchase protections that Amex typically provides.
Luke Gebb, executive vice president at Amex Digital Labs, emphasized the partnership’s strategic importance. Gebb stated that American Express recognizes cryptocurrency and blockchain technologies’ potential to create faster, more efficient value transfer methods. The company focuses on practical, compliant applications that generate long-term customer value.
New Subscription Tier Introduction
Coinbase simultaneously introduced a Basic subscription tier priced at $4.99 monthly or $49.99 annually. This entry-level option provides zero trading fees on monthly trades up to $500, boosted staking rewards, and 4.5% APY on the first $10,000 in USDC holdings.
Basic subscribers also receive protection for up to $1,000 worth of cryptocurrency against unauthorized account access and future access to the Coinbase One Card benefits.
Growing Competition in Crypto Cards
The launch positions Coinbase among expanding competitors offering cryptocurrency-linked payment cards. MetaMask introduced its debit card in 2024, while Mastercard announced partnerships with OKX and Kraken for similar products in April.
American Express previously explored cryptocurrency rewards through a 2022 partnership with Abra, demonstrating continued interest in blockchain-based financial products.
Coinbase continues building its comprehensive cryptocurrency ecosystem through products like Base, its developer platform, and self-custody wallet solutions. The credit card represents another step in the company’s strategy to integrate Bitcoin and cryptocurrency services into everyday financial activities.
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