In an ambitious effort to become one of the crypto payment leaders, crypto exchange Coinbase has announced that it will launch a credit card offering 4% Bitcoin cashback. The new card, Coinbase One Card, will be made possible in partnership with global payment platform American Express (Amex).
The card will be exclusively available to Coinbase One users in the US. Coinbase One is a premium subscription service launched in 2023. This service provides advanced trading features, exclusive rewards, and other benefits.
The new credit card users can avail themselves of 4% cashback on every purchase, Coinbase announced in an X post.
An official blog by the company echoed: “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.” Among other perquisites are earning more Bitcoins as users hold more assets and gaining extra benefits through Amex, such as protection, offers, and unique experiences.
Coinbase’s new initiative adds to the burgeoning trend of several crypto companies that have recently introduced payment cards to facilitate digital asset use for daily purchases. For instance, leading crypto wallet, MetaMask, rolled out its debit card in 2024.
In 2018, crypto exchange Crypto.com launched its Crypto Visa Card to enable payments in crypto with up to 8% cashback in its native token, CRO. Last month, fintech company MoonPay partnered with Mastercard to enable payment using stablecoins.
Key benefits of Coinbase One subscription
Worth noting, Coinbase has also advanced the Coinbase One subscription scheme, introducing a basic tier. This allows members to pay $4.99 per month or $49.99 per year, get 4.5% Annual Percentage Yield (APY) on holding their first $10,000 of USDC, and enjoy zero trading fees on trades worth up to $500 every month. In case of proven hacks, the crypto firm will reimburse the members up to $1,000.
