Coinbase to Launch Credit Card Powered by American Express Network

Coinbase said Thursday (June 12) that it will launch a credit card for members of its Coinbase One subscription program in the U.S. this fall.

The Coinbase One Card will be powered by the American Express Network and will allow members to earn between 2% and 4% bitcoin back on every purchase, depending on the amount of assets they hold on the Coinbase platform, Coinbase said in a Thursday blog post.

Members will also have access to benefits through the American Express Network, including experiences, offers and protections, per the post.

Coinbase invited members to sign up on a waitlist to be notified when the credit card is available.

The Coinbase One program, which launched in 2023, has nearly 1 million members, according to the post.

“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,” Coinbase said in the post.

In an American Express press release about the card, Luke Gebb, executive vice president at Amex Digital Labs, said the company believes crypto and blockchain technologies have “real potential to deliver faster, more efficient ways to move value.”

“Our focus is on practical, compliant applications that create long-term value for customers,” Gebb said. “The new Coinbase One Card will benefit from Amex’s secure, innovative network, designed to deliver trusted, seamless experiences for Card Members in an evolving payments landscape.”

Coinbase also announced in its blog post that it added a new Coinbase One subscription tier — Basic — that is priced at $4.99 a month or $49.99 a year.

Launched Thursday, the Basic tier offers zero trading fees on up to $500 worth of trades every month; boosted staking rewards; 4.5% APY on the first $10,000 of USDC and regular APY after that; protection for up to $1,000 worth of crypto from unauthorized account access; and the benefits of the Coinbase One Card when it is launched, per the post.

“The Basic tier is packed with essential value for the most affordable price we’ve offered since launching Coinbase One in 2023,” the company said in the post.