Coinbase Partners with American Express to Launch Credit Card Offering $50 Annual Fee for 4% BTC Rewards and Travel Insurance
Coinbase Announces Partnership with American Express to Launch Coinbase One Card
At yesterday’s State of Crypto conference, Coinbase announced a partnership with American Express to launch the “Coinbase One Card” credit card, offering up to 4% bitcoin cashback, staking rewards, and zero transaction fees. The company also collaborated with Shopify and Stripe to expand the USDC payment landscape, allowing stablecoins to move from the chain to physical consumption.
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Coinbase One Card Seizes Credit Card Market, Consumers Enjoy Bitcoin Cashback
The “Coinbase One Card” introduced by Coinbase is the company’s first credit card, supported by American Express. This card emphasizes “spend in USD, get bitcoin cashback,” offering 2% to a maximum of 4% BTC cashback based on the user’s assets held on Coinbase.
The announcement states that all Coinbase One members can apply, limited to use within the United States. The card itself is made of metal, specially engraved with the content of the bitcoin genesis block, combining technology with a sense of history. In addition to the cashback mechanism, cardholders can also enjoy travel insurance, purchase protection, exclusive offers, and event invitations through American Express, creating a dual-value experience that traditional credit cards cannot provide.
With an annual fee of $49.99, the card links transactions, staking rewards, and insurance services.
To lower the threshold and attract a wider range of users, Coinbase has simultaneously launched the “basic subscription plan” for Coinbase One, with an annual fee of only $49.99 or a monthly fee of $4.99. This plan not only includes credit card eligibility but also offers benefits such as zero transaction fees within $500 per month, a 4.5% APY interest rate on the first $10,000 of USDC, $1,000 maximum account misuse protection, and exclusive staking rewards and partnership offers. The card is expected to be officially released in the fall and is currently open for waitlist registration.
Shopify Partners with Coinbase and Stripe: Supports Merchants with USDC Cross-Border Payments
In addition to entering the credit card field, Coinbase is also expanding its presence in commercial payments by collaborating with Shopify and Stripe to launch USDC stablecoin payment functionality, initially landing in 34 countries including the United States. Consumers can make payments through wallets on the Base chain, while merchants can settle directly in local fiat currencies, eliminating the hassle of converting cryptographic infrastructure.
Stripe stated, “This service is expected to further drive the global popularization of stablecoin payments, currently processing over $6.3 billion in stablecoin transactions per month.” Shopify added, “This integration significantly reduces the technical barriers for merchants, allowing them to accept stablecoins without needing to understand blockchain.”
This collaboration is seen as an important step towards mainstreaming cryptocurrency payments in e-commerce and is expected to expand to more platforms and online ecosystems in the future.
Credit Cards and Payments, Coinbase Creates a One-Stop Cryptocurrency Financial Gateway
From credit cards to e-commerce stablecoin payments, Coinbase is gradually expanding its financial technology landscape, no longer just a cryptocurrency exchange but an integrated service environment for “consumption, savings, and investment.” Coinbase states that their goal is to make “every purchase, every transfer, an opportunity to invest in the future.” The next step will involve continuing to expand the card’s applicability areas and partner merchants, as well as exploring more daily applications for cryptocurrency assets.
Risk Warning
Cryptocurrency investments carry a high level of risk, with prices possibly experiencing significant fluctuations, leading to a potential loss of the entire principal. Please carefully assess the risks.
