Coinbase has officially stepped into the world of credit cards with the launch of its Coinbase One Card* - a new Bitcoin rewards credit card issued by First Electronic Bank and operating on the American Express network.

The product marks Coinbase’s most significant crossover into traditional finance yet – transforming the way its customers can earn and spend cryptocurrency in everyday life.

Turning Membership Into a Credit Experience

Available exclusively to Coinbase One members, the card rewards users with up to 4% back in Bitcoin for every purchase. Rewards are automatically credited to the user’s Coinbase Digital Asset Wallet, giving members an easy way to accumulate crypto while spending normally.

💥BREAKING:

🇺🇸 COINBASE & AMERICAN EXPRESS OFFICIALLY LAUNCH ‘COINBASE ONE CARD’ IN THE US, OFFERING UP TO 4% BITCOIN BACK ON ALL PURCHASES. pic.twitter.com/fpn8Q9zP7F

— Crypto Rover (@cryptorover) October 22, 2025

The card carries no annual or foreign transaction fees, but access requires a Coinbase One subscription. The entry-level membership, priced at $49.99 per year, already includes perks such as zero trading fees and priority customer support – now joined by the credit card as an additional benefit.

Unlike Coinbase’s earlier debit offering, this is a true credit card – with revolving balances, purchase protections, and full acceptance wherever American Express cards are used worldwide.

American Express Enters the Crypto Scene

This partnership is not only a milestone for Coinbase but also a historic step for American Express, which is powering its first-ever crypto rewards product. The collaboration combines traditional credit infrastructure with the appeal of digital assets, signaling that mainstream financial networks are increasingly open to blockchain-based rewards systems.

For Coinbase, the partnership enhances its goal of creating a unified financial ecosystem where customers can trade, hold, and spend crypto within familiar payment frameworks.

Facing Off Against the Gemini Credit Card®

The new Coinbase One Card* joins a competitive crypto card landscape dominated by the Gemini Credit Card®, issued by WebBank and running on the Mastercard network. Gemini’s product features tiered rewards: 4% back on gas, transit, and rideshares (up to $300 monthly), 3% on dining, 2% on groceries, and 1% on everything else. Rewards post instantly and can be claimed in more than 50 supported cryptocurrencies.

By comparison, Coinbase’s flat 4% Bitcoin-back rate simplifies the process – no bonus categories, no spending limits. However, since it’s tied to a paid membership, the value proposition depends on whether users take advantage of the broader Coinbase One benefits.

For traders and loyal Coinbase users, the card could integrate seamlessly into their existing routine. For casual spenders, the $49.99 annual subscription may reduce the card’s effective earnings.

Bitcoin Rewards vs. Traditional Cash Back

The Coinbase One Card* raises an important question: can crypto-based rewards compete with traditional cash-back programs?

Unlike conventional rewards, Bitcoin’s value fluctuates. A 4% return in Bitcoin could be worth more – or less – depending on market swings. That volatility gives the card both its appeal and its risk.

In contrast, established cash-back cards such as the Citi Double Cash® Card or Wells Fargo Active Cash® Card offer a fixed, predictable return in U.S. dollars with no subscription cost. The trade-off is clear – potential upside vs. guaranteed stability.

A Bridge Between Two Financial Worlds

For Coinbase, the new credit card represents more than another membership perk – it’s a statement of intent. The company aims to blur the boundaries between digital and traditional finance, using the American Express network as a bridge between the crypto economy and conventional spending.

Meanwhile, American Express gains a foothold in the digital asset space without directly managing crypto, aligning itself with a platform already trusted by millions of retail traders.

The Future of Everyday Crypto

Whether the Coinbase One Card* becomes a mainstream success or remains a niche option for crypto enthusiasts, it symbolizes a new phase of convergence between financial systems. Bitcoin rewards on a global credit network would have been unthinkable just a few years ago – now, they’re a swipe away.

For active Coinbase members, the card adds utility and cohesion to an already comprehensive ecosystem. For traditional consumers, it’s an intriguing experiment – one that might redefine what it means to “earn rewards” in the digital age.