Coinbase to Launch Bitcoin Rewards Card With Amex, While Eyeing U.S. Futures Expansion

Crypto speech Coinbase is readying to motorboat a recognition paper that offers bitcoin BTC cashback, the institution said connected Thursday.

The Coinbase One Card, issued successful concern with American Express, includes perks specified arsenic earning 4% successful BTC aft purchases, boosted rewards connected USDC stablecoin holdings and higher staking rewards and transaction credits connected Base, the Ethereum layer-2 web developed by the exchange, according to the card's website. The card's rollout is expected this fall.

The determination comes arsenic much crypto platforms and exchanges are rolling retired outgo cards to alteration users to walk their blockchain-based token stash connected mundane purchases. For example, self-custodial wallet MetaMask introduced its debit paper past year, portion Mastercard unveiled plans successful April to motorboat debit cards with crypto exchanges OKX and Kraken.

It's besides not the archetypal crypto endeavour for Amex, either: the institution issued a recognition paper offering crypto rewards with Abra successful 2022.

Coinbase's announcement coincided with the company's State of Crypto Summit lawsuit successful New York, wherever the speech besides hinted astatine expanding perpetual futures trading to the U.S., according to media reports.

Perps trading has been constricted to non-U.S. users astatine Coinbase Advance. However, the speech said earlier this twelvemonth successful a blog post that it was moving with the Commodity Futures Trading Commission (CFTC) towards making "perpetual-style futures contracts" accessible to U.S. users.