Coinbase is making a major play for mainstream crypto adoption with the launch of its Coinbase One Card, a premium bitcoin rewards credit card issued in partnership with American Express that offers up to 4% bitcoin cashback on purchases.
The announcement signals the exchange’s push to bridge traditional finance with digital assets while simultaneously eyeing expansion of perpetual futures trading to US customers.
Premium Card Targets High-Value Crypto Users
The Coinbase One Card represents a significant evolution in crypto rewards programs, offering substantially higher bitcoin cashback rates than traditional credit cards provide in fiat currency. The card’s 4% BTC rewards rate is tied to users’ asset holdings on the Coinbase platform, creating an incentive structure that rewards platform loyalty and larger account balances.
Beyond bitcoin rewards, the card includes boosted rewards on USDC stablecoin holdings, higher staking rewards, and enhanced transaction credits on Base, Coinbase’s Ethereum layer-2 network. This comprehensive benefits package positions the card as more than just a payment method—it’s designed as an integrated crypto ecosystem tool that encourages deeper platform engagement.
The partnership with American Express brings institutional credibility and premium cardholder benefits typically associated with high-end credit products. Cardholders gain access to retail protection, extended warranty coverage, return protection, Amex Offers, exclusive experiences, car rental loss damage coverage, trip cancellation insurance, lost luggage protection, roadside assistance, and emergency assistance services.
Coinbase has positioned the card as exclusive to Coinbase One members, with annual memberships starting at $49.99. The card will be available across Basic, Preferred, and Premium membership tiers, though limited to United States customers excluding territories. The rollout is scheduled for fall 2025, giving Coinbase time to build anticipation and refine the offering.
The move aligns with broader industry trends as crypto platforms increasingly introduce payment cards to enable everyday spending of digital assets. MetaMask launched its debit card last year, while Mastercard announced bitcoin partnerships with exchanges OKX and Kraken for similar offerings in April.
Bitcoin Futures Trading
Coinciding with the credit card announcement, Coinbase hinted at bringing perpetual futures trading to US customers, a move that would significantly expand its derivatives offerings in its home market.
Currently, perpetual futures trading is limited to non-US users through Coinbase Advanced, but the exchange has been working with the Commodity Futures Trading Commission toward making “perpetual-style futures contracts” accessible domestically.
This expansion would position Coinbase to compete more directly with international exchanges that offer comprehensive derivatives products to global users. Perpetual futures represent a massive segment of crypto trading volume, and bringing these products to US customers would likely generate substantial revenue growth for the platform.
The timing appears strategic, coinciding with a more crypto-friendly regulatory environment under the current administration. Coinbase’s collaboration with the CFTC on futures products demonstrates the exchange’s commitment to regulatory compliance while expanding its product suite.
Both initiatives underscore Coinbase’s evolution from a simple buy-and-sell platform to a comprehensive financial services provider operating at the intersection of traditional and digital finance.
