Coinbase Announces Coinbase One Card on American Express Network

Coinbase has taken steps to introduce a new credit card called the Coinbase One Card, which will leverage the American Express network. This card is issued by First Electronic Bank in partnership with fintech firm Cardless.

Users can earn up to 4% Bitcoin rewards on purchases through this card. However, access is currently limited to members of Coinbase One residing in the United States.

The announcement was made during Coinbase’s State of Crypto Conference and a waitlist for interested customers has been set up on the company’s website. More detailed information regarding the programme will be released later this year.

Focusing on Infrastructure and Compliance

Representatives from American Express see this as part of a broader strategy to explore how blockchain and cryptocurrency can modernize financial infrastructure. Although they are being cautious, American Express believes there is potential for compliant applications that could enhance efficient value transfer systems.

American Express highlighted that the Coinbase One Card will incorporate their existing technologies such as digital wallets and tokenization. The card will also benefit from the protections and features available on the American Express network, reflecting current consumer interest in combining crypto rewards with traditional credit card benefits.

Coinbase and Cardless are responsible for managing this product, with Cardless being a portfolio company of Amex Ventures. The Coinbase One Card operates under the American Express license, subject to associated terms and conditions.

American Express’s approach remains measured, with emphasis on infrastructure, strategic partnerships, and talent development as key strategies in navigating the evolving payments landscape.