Coinbase is set to launch a new American Express credit card in the U.S. this fall, offering bitcoin rewards and a design aimed squarely at crypto enthusiasts.
The upcoming card, available exclusively to Coinbase One subscribers, will allow users to earn up to 4% cashback in Bitcoin on everyday purchases. Rewards will vary depending on the user’s holdings on the platform. The card will have no foreign transaction fees and can be repaid using either a bank account or crypto stored on Coinbase.
What sets this card apart is its Bitcoin-inspired design. The card is etched with data from Bitcoin’s Genesis Block—the first-ever block mined by Satoshi Nakamoto in 2009. This includes a reference to a historic newspaper headline embedded in that block, widely seen as a critique of the traditional banking system.
Even the card’s name draws from Bitcoin terminology: in blockchain, a “coinbase” transaction refers to the first transaction in a new block that issues newly mined bitcoin.
In addition to crypto perks, cardholders will have access to standard American Express benefits, including exclusive offers and events.
The launch comes as Coinbase continues to expand its consumer-facing services and deepen ties between traditional finance and the crypto economy.
Featured image from: reddit.com