Coinbase & Amex Team Up for Bitcoin Rewards Card
Crypto exchange giant Coinbase partners with American Express to launch a card rewarding users with Bitcoin, while also hinting at expansion into U.S. perpetual futures trading.
Coinbase is stepping up its game by launching a new credit card that rewards users with Bitcoin cashback. Partnering with American Express, the Coinbase One Card aims to entice users with attractive perks.
Key Features of the Coinbase One Card:
- Bitcoin Rewards: Earn 4% back in BTC on purchases.
- USDC Boost: Enhanced rewards for holding USDC stablecoin.
- Base Network Benefits: Higher staking rewards and transaction credits on Coinbase's Ethereum layer-2 network, Base.
This initiative places Coinbase alongside other crypto platforms exploring payment cards. MetaMask launched a debit card last year, and Mastercard recently announced plans for debit cards with OKX and Kraken.
American Express isn't new to the crypto rewards space either, having previously issued a card with Abra in 2022.
Expansion into U.S. Futures Market
Alongside the card announcement, Coinbase also suggested expanding perpetual futures trading to its U.S. user base. Currently, perpetual futures trading is available only to non-U.S. users on Coinbase Advance. However, Coinbase is working with the Commodity Futures Trading Commission (CFTC) to offer these contracts to U.S. customers.
Investment Considerations
As always, investors should consider their risk tolerance and investment timeline before making allocation decisions. Bitcoin remains a volatile asset despite increasing institutional adoption.
This article is for informational purposes only and should not be considered investment advice. Always consult with a qualified financial advisor.
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