Coinbase has announced the upcoming launch of its new credit card, the Coinbase One Card, set to debut this fall in the U.S. The card will offer Bitcoin cashback on every purchase.
Launch of Coinbase One Card
Coinbase has revealed the Coinbase One Card, developed in partnership with American Express. This card will allow users to earn Bitcoin when making purchases, starting at 2% cashback and increasing based on the amount of assets held on the platform.
Benefits for Coinbase One Users
The card will be available exclusively to Coinbase One members in the United States, excluding U.S. territories. Users will also benefit from features such as fiat spending, access to cryptocurrencies, and a mobile app supporting both Android and iOS.
Trends in Crypto Payments
The launch adds to the growing trend within the crypto industry where exchanges are developing their own payment cards. Earlier this year, Kraken announced the launch of Mastercard-powered cards, and the OKX exchange has launched its card allowing users to spend stablecoins. These developments further expand the utility of cryptocurrencies in everyday transactions.
The introduction of the Coinbase One Card emphasizes the cryptocurrency sector's drive to integrate digital assets into the financial system and enhance user convenience.
