Coinbase Opens Amex Card With up to 4% Back in BTC for U.S. Coinbase One Members

Why It Matters

The launch intensifies competition with Gemini’s crypto rewards cards by targeting users who prefer straight bitcoin exposure and could drive Coinbase One subscriptions and deeper custody usage among retail crypto spenders.

Summary

Coinbase has opened its Coinbase One Card to all U.S. Coinbase One members (a $49.99/year subscription), offering up to 4% back in bitcoin on every purchase, no foreign‑transaction fees, and the ability to pay the card from a linked bank account or crypto held on Coinbase. The physical Amex card is marketed as a bitcoin‑first product — even etched with Genesis Block data — and Coinbase says earned BTC rewards don’t appear on 1099s though taxable on sale. The launch intensifies competition with Gemini’s crypto rewards cards by targeting users who prefer straight bitcoin exposure and could drive Coinbase One subscriptions and deeper custody usage among retail crypto spenders.