SAN FRANCISCO–Offering up to 4% bitcoin back on purchases, Coinbase has announced plans to launch the Coinbase One Card later this year in partnership with American Express. The card will run on the American Express network while being issued by First Electronic Bank.
The Coinbase One Card will launch in the fall, but consumers can currently join a waitlist on the Coinbase website.
According to Yahoo Finance, cardholders will be able to earn between 2% and 4% bitcoin back on every purchase, and also earn higher rates by holding more assets with Coinbase.
It will only available with a Coinbase One subscription, which will soon be available to all customers starting at $49.99 per year, the report stated.
The Benefits
Additional benefits include:
- $0 trading fees on the first $500 per month in trades (a spread applies)
- 4.5% APY on USDC rewards (on the first $10,000, then 4.1%)
- 5% more staking rewards on ETH, SOL, and other eligible assets
- $120 ($10 per month) transaction credits on Base
American Express Benefits
The card will also offer benefits from American Express, including:
- Car rental loss damage
- Emergency assistance
- Extended warranty
- Lost luggage insurance
- Retail protection
- Return protection
- Roadside assistance
- Trip cancellation and trip interruption
Availability and Eligibility
The Coinbase One Card is only available to eligible applicants who are Coinbase One members located in the U.S., Yahoo Finance reported.
Coinbase One Basic currently costs $29.99 per month or $299.88 per year. Coinbase One Premium costs $299.99 per month.
Coinbase has stated that “annual memberships starting at $49.99/year will be available to all customers soon, Yahoo Finance said.
