Coinbase CEO Brian Armstrong Teases Crypto Credit Card Powered By American Express—Bitcoin Cashbacks Offered, But Here’s The Catch

Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong unveiled the company’s cryptocurrency credit card Thursday that will offer cashback rewards in Bitcoin (CRYPTO: BTC).

What Happened: Armstrong took to X to showcase the new Coinbase One Card. The card, made of metal and engraved with Bitcoin’s Genesis block, is powered by payments giant American Express Co. (NYSE:AXP). The card offers users up to 4% in Bitcoin rewards for every purchase.

However, there are certain conditions. The card would be available only to those having its premium subscription service, Coinbase One, annual memberships of which start at $49.99/year.

Moreover, the size of rewards will be determined by the Coinbase balance, meaning the larger the balance, the more BTC one will get. The company also clarified that it reserves the right to decide which transactions are eligible for rewards.

The Coinbase One Card is set to launch in the fall of 2025.