TLDR
- Coinbase launches Bitcoin rewards credit card exclusively for Coinbase One subscribers in partnership with American Express
- The card offers up to 4% Bitcoin cashback on purchases and launches this fall
- Coinbase may expand to other cryptocurrency rewards like Ethereum or Solana in the future
- The move aims to drive growth in Coinbase’s subscription service which has over 1 million users
- Coinbase is also exploring bringing perpetual futures trading to U.S. customers
Coinbase has announced its first-ever branded credit card that rewards users with Bitcoin cashback. The Coinbase One Card will be available exclusively to U.S.-based subscribers of the company’s premium service.
The card offers up to 4% Bitcoin back on purchases made by cardholders. It launches this fall through a partnership with American Express.
American Express just teamed up with Coinbase.
They’re launching the Coinbase One Card — and it gives 4% back in Bitcoin on everything you buy.
With 141 million users, this is HUGE for crypto adoption.
Bitcoin rewards are going mainstream. 🧡 pic.twitter.com/2r23WP4VkA
— Greg Miller (@greg_miller05) June 13, 2025
The credit card is part of Coinbase’s strategy to expand its subscription service offerings. Coinbase One currently provides zero trading fees and enhanced staking rewards to its members.
Max Branzburg, Coinbase’s vice president of product, said customers are using Coinbase as a primary financial account. The card reflects this shift in user behavior.
The Bitcoin rewards card joins a growing trend of crypto payment solutions. Other platforms like MetaMask and exchanges partnering with Mastercard have introduced similar products.
When asked about expanding to other cryptocurrencies, Branzburg suggested future possibilities. The company has discussed offering rewards in tokens like Ethereum or Solana.
Revenue Diversification Strategy
Coinbase’s card launch comes as the company works to diversify its revenue streams. Transaction fees have historically been the platform’s main income source.
Subscription services now represent a larger portion of Coinbase’s revenue mix. The company reported $698.1 million in subscription and services revenue in Q1 2025.
This represents a 9% increase from the previous quarter. Overall revenue reached $2.03 billion for the quarter, up 24% year-over-year.
Coinbase One has grown to over 1 million subscribers in two years. The credit card could help drive further growth in this segment.
The card includes additional perks beyond Bitcoin rewards. Users get boosted rewards on USDC stablecoin holdings and higher staking rewards on Base, Coinbase’s Ethereum layer-2 network.
Futures Trading Expansion
The card announcement coincided with Coinbase’s State of Crypto Summit in New York. The company also hinted at expanding perpetual futures trading to U.S. customers.
Currently, perpetual futures trading is limited to non-U.S. users on Coinbase Advanced. The exchange has been working with the Commodity Futures Trading Commission on this expansion.
Coinbase stated it is pursuing “perpetual-style futures contracts” for U.S. users. This would represent another revenue stream for the platform.
The timing of both announcements reflects Coinbase’s confidence in the current regulatory environment. Branzburg cited recent changes in U.S. crypto regulations as a factor in the card’s launch timing.
The company has been planning the credit card for an extended period. Leadership decided current market conditions made it the right time to proceed.
American Express brings payment processing expertise to the partnership. The company previously issued crypto rewards cards with other platforms like Abra in 2022.
