- Coinbase and American Express debut Bitcoin rewards card.
- 4% cashback in Bitcoin offered.
- Impacts Bitcoin user growth.
Coinbase is launching the Coinbase One Card, an American Express card offering up to 4% cashback in Bitcoin, available to Coinbase One subscribers by fall 2025. This marks Amexโs first major crypto rewards card focused solely on Bitcoin, differentiating it from traditional point-based rewards.
The Bitcoin cashback card from Coinbase and American Express signals a progressive move towards integrating cryptocurrency into consumer finance.
Coinbase One Card Debut
The Coinbase One Card, which debuts in fall 2025, marks a significant partnership between Coinbase, Inc. and American Express. This initiative offers up to 4% Bitcoin cashback to users, distinguishing itself from traditional reward structures.
Partnership Details
Coinbase and American Express collaborate on this project, with Cardless, Inc. overseeing the card issuance. This credit card aligns with a broader financial shift recognizing cryptocurrency as mainstream.
Potential Impact
The initiative could potentially increase Bitcoin adoption among US consumers. As Bitcoin is the sole asset for cashback, an upswing in its use is anticipated, further integrating cryptocurrency into everyday transactions.
Market Influence
The launch could augment Coinbaseโs role in the marketplace, seeing the entry of American Express into consumer crypto rewards. This strategic move may increase Bitcoin holdings and consumer affinity towards the platform. As Lisa Stevens, EVP, Amex Consumer Banking, states, โCrypto is no longer a fringe asset. We see it as a core part of future personal finance.โ
Expected Outcomes
Expected outcomes include a Philip Morris-style competitive shakeup, influencing perceptions on financial technology integration in daily life. Insights suggest growth in Bitcoin usability as markets shift towards blockchain technologies.
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