On June 13, the leading cryptocurrency exchange, Coinbase, announced its strategic partnership with American Express Network to launch its first credit card, called “Coinbase One Card.”
The card is expected to debut this fall, which will offer cardholders up to 4% back in Bitcoin on every purchase.
Coinbase Introduces Its First Credit Card
The announcement, made at Coinbase’s State of Crypto Conference, will place the card as a offering for Coinbase One in the U.S. It combines the security and benefits of American Express with the innovation of crypto rewards.
While addressing the conference, Will Stredwick, SVP, Global Network Services at American Express, said “In today’s world, we see real potential in the combination of Coinbase and crypto with the Powerful Backing of American Express, and what the card offers is an excellent mix of what customers are looking for right now.”
He added further, “The Coinbase One Card will offer crypto rewards alongside unique benefits, offers, experiences, and protections through the American Express Network.”
The Coinbase One Card will be issued by First Electronic Bank and powered by Cardless, which is a fintech specializing in branded credit programs. Beyond Bitcoin rewards, cardholders will gain access to Amex’s perks, including travel benefits, dining offers, and exclusive experiences.
Luke Gebb, EVP, Amex Digital Labs, explained the more, saying “American Express views crypto and blockchain technologies as part of the evolving financial infrastructure with real potential to deliver faster, more efficient ways to move value. 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 in an evolving payments landscape,” he added.
Also Read: Brazil Ends Crypto Tax Exemption, Imposes 17.5% Flat Tax Rate
