Coinbase is set to launch a credit card named Coinbase One Card, developed in collaboration with American Express. This new card will allow users to earn up to 4% cashback in Bitcoin after purchases, as well as additional rewards for USDC stablecoin holdings and staking on Base, Coinbase’s Ethereum layer-2 network. The card is expected to roll out this fall.

Key Points:

• The launch reflects a growing trend of cryptocurrency exchanges introducing payment cards for everyday transactions.
• The announcement aligns with Coinbase’s potential plans to introduce perpetual futures trading in the U.S.

The initiative comes amid increasing adoption of crypto rewards cards in the market, following similar moves from other platforms like MetaMask, which launched its own debit card last year. Additionally, American Express previously issued a crypto rewards card in partnership with Abra in 2022.

The formal announcement was made during Coinbase’s State of Crypto Summit in New York.