Coinbase Teams Up with American Express to Launch Bitcoin Rewards Card

Set to launch in the fall of 2025, the Coinbase One Card will be available exclusively to U.S. members of Coinbase One, the platform’s monthly subscription service. Cardholders can earn between 2% to 4% back in Bitcoin on their purchases. Additional perks include enhanced rewards on USDC stablecoin holdings, higher staking rewards, and transaction credits on Base, Coinbase's Ethereum layer-2 network.

This collaboration marks a significant shift for American Express, which had previously been cautious about entering the crypto credit card space. The partnership indicates a growing acceptance of digital assets within traditional financial institutions.

In addition to the credit card launch, Coinbase is preparing to introduce perpetual futures trading in the United States, fully compliant with Commodity Futures Trading Commission (CFTC) regulations. Perpetual futures are advanced crypto derivatives that allow traders to speculate on asset prices without expiration dates, offering high leverage and 24/7 trading access. This move aligns with a renewed investor appetite and easing regulatory concerns in the crypto market.

Coinbase has already initiated 24/7 futures trading for Bitcoin and Ethereum and plans to extend this service to include altcoins like XRP and Solana starting June 13, 2025 . This expansion reflects Coinbase's commitment to providing comprehensive trading options for its users.

To bolster its derivatives offerings, Coinbase has agreed to acquire Deribit, a Dubai-based crypto derivatives platform, for $2.9 billion. This acquisition, comprising $700 million in cash and the remainder in Coinbase shares, positions Coinbase to capitalize on the expected surge in institutional interest in cryptocurrency options. Deribit is known for its significant trading volumes, handling over $1 trillion annually.

These developments come as Coinbase intensifies its push to diversify revenue streams and capture institutional demand for advanced crypto products. The expansion into futures and credit services follows a broader industry trend of integrating traditional finance with blockchain-based solutions, as regulatory clarity gradually improves across key markets.

Coinbase’s stock (COIN) has seen modest fluctuations amid these announcements and broader market movements. As of the latest trading session, COIN is trading at $241.05, down slightly from the previous close. American Express (AXP) shares are priced at $297.99, reflecting a marginal decline.

Coinbase's partnership with American Express to launch a Bitcoin rewards credit card, coupled with its expansion into U.S. futures trading and the acquisition of Deribit, underscores the company's strategic efforts to integrate cryptocurrency into mainstream finance. These initiatives reflect a broader trend of increasing collaboration between traditional financial institutions and the crypto industry, signaling a maturing market poised for further growth.