Coinbase (COIN.US) teamed up with American Express (AXP.US) to launch the first credit card with up to 4% Bitcoin rebate

The Zhitong Finance App learned that cryptocurrency exchange Coinbase Global (COIN.US) said on Thursday that it will launch its first branded credit card in partnership with American Express (AXP.US). This new product, called the Coinbase One Card, will provide up to 4% Bitcoin rebate on every purchase.

Will Stredwick, senior vice president of American Express Global Network Services, said at Coinbase's State of Crypto summit that cardholders can not only receive cryptocurrency rewards, but also “enjoy the unique benefits, preferential benefits, exclusive experiences and comprehensive guarantees provided by the American Express network.”

The credit card is currently only open to Coinbase One members in the US region, and a waitlist channel was launched on Thursday. Since the launch of the monthly subscription service in 2023, the number of subscribers to Coinbase One has surpassed the one million mark.

Stredwick added, “We saw the huge potential in the combination of the Coinbase cryptocurrency platform and American Express's strong payment network, and this credit card perfectly integrates the core needs of current customers.”