Coinbase is set to launch the Coinbase One Card this fall, offering up to 4% back in Bitcoin on every purchase.
Developed in partnership with American Express, the Coinbase One Card is designed to reward users in Bitcoin (BTC), starting at 2% and increasing based on the amount of assets held on the platform. The card will available exclusively to Coinbase One members in the United States (excl. U.S. Territories).
In addition to earning Bitcoin on everyday spending, Coinbase One members will benefit from features such as fiat spending, integrated crypto access, and a mobile app that supports both Android and iOS.
Coinbase is also rolling out a new Basic tier of its membership program at $4.99 per month or $49.99 per year, giving users access to the card, zero trading fees on the first $500/month in trades, up to 4.5% APY on USD Coin (USDC) holdings, and $10/month in sponsored smart wallet gas on Base.
The move adds to a growing trend in the crypto industry, where crypto exchanges are developing branded payment cards that allow users to spend fiat.
Earlier this year, Kraken announced that it will launch Mastercard-powered physical and digital debit cards for users in the U.K. and Europe, enabling crypto payments at over 150 million merchants through its Kraken Pay platform.
OKX exchange has also recently partnered with Mastercard to launch the OKX Card, a debit card enabling users to spend stablecoins and other crypto via the Mastercard network.
These new launches further broaden the range of crypto cards already available from major exchanges. Crypto.com provides the widely used Crypto.com Visa Card accessible across multiple regions including the U.S., Canada, Europe, Australia, Singapore, and Latin America. Bybit offers a rewards crypto card to select users, featuring up to 10% cashback on everyday purchases. MEXC also offers a prepaid Mastercard that enables users in select European countries to spend their digital assets worldwide.
