Coinbase Unveils One Card with 4% Bitcoin Rewards

Coinbase One Card Offers Up to 4% BTC Back on All Purchases

At its State of Crypto Summit in New York, Coinbase announced the launch of the “Coinbase One Card”, a new metal credit card that offers up to 4% cashback in Bitcoin on every dollar spent. Available this fall, the card will initially be limited to U.S.-based Coinbase One subscribers.

The cashback rate starts at 2%, but can climb to 4% depending on how much crypto a user holds on Coinbase. The card is powered by the American Express network, offering perks like travel benefits, purchase protections, and special promotions. The sleek physical card comes engraved with a segment of the Bitcoin genesis block.

Coinbase Lowers the Entry Bar with New Basic Tier

To make the card more accessible, Coinbase is introducing a Basic Coinbase One membership, priced at $4.99/month or $49.99/year. This tier unlocks access to the Coinbase One Card and includes:

• Zero trading fees on up to $500/month

• 4.5% APY on the first $10,000 of USDC holdings

• $1,000 in account protection against unauthorized access

Since its launch in 2023, Coinbase One has attracted nearly one million users, many of whom leverage the platform for trading, staking, and crypto rewards. The new tier is aimed at onboarding mainstream users and crypto newcomers.

Brian Armstrong: Bitcoin Could Replace the Dollar If Debt Crisis Deepens

During a wide-ranging conversation at the summit, Armstrong addressed macroeconomic risks, suggesting that Bitcoin could become the global reserve currency if the U.S. debt situation spirals further out of control.

Armstrong dismissed alternatives like the Chinese RMB, pointing out that “they have their own debt problems.” He warned that the U.S. might face an inflationary spiral, describing the situation as “the frog slowly getting cooked.”

Push for Crypto Legislation and Circle Relationship

Armstrong also reiterated support for bipartisan crypto legislation and praised the Trump administration’s cooperative stance. He called for the Stablecoin Act, the Clarity Act, and the GENIUS Act to be passed before Congress adjourns for summer.

When asked about recent tax policy changes, he noted that the impact is unclear but said a follow-up bill might be needed to stabilize discretionary spending.

Armstrong confirmed that Coinbase still holds equity in Circle, the issuer of USDC, calling their distribution partnership “substantial.” While open to the idea of acquiring Circle, he emphasized, “It takes two parties.”

Strategic Partnerships with AmEx, Visa, and Shopify

Beyond the new One Card, Coinbase is deepening its reach through partnerships with Visa and Shopify. It already offers a Visa-powered debit card, and the new AMEX-backed credit card adds another layer to its consumer product ecosystem.

Coinbase has also teamed up with Shopify, enabling merchants to accept USDC payments directly, helping bridge crypto and e-commerce.

He added that traditional networks are already developing stablecoin strategies to avoid getting disrupted.