Coinbase is preparing to launch a new American Express credit card in the U.S. this fall, and everything about it, from its design to its perks, appears to be tailored for Bitcoin enthusiasts.
A card built around Bitcoin's origin story
Unlike most cryptocurrency-linked cards, Coinbase's upcoming product is not just about perks, but also about symbolism.
The card is engraved with data from the Genesis block, the first block created on the Bitcoin network on January 3, 2009 by pseudonymous inventor Satoshi Nakamoto. That single block started the Bitcoin blockchain and marked the beginning of an entirely new financial system.
The inclusion of this data is not just a design choice, but a direct reference to Bitcoin's founding moment. The hex code printed on the card is part of the first block of raw data.
For the non-technical reader, hexadecimal (or “hex”) is a simple hexadecimal numbering system used in computing. This is the digital language in which Bitcoin's original history was written, and is now literally written into physical financial instruments.
Embedded in the block was the now-famous message: “Prime Minister on the brink of second bailout for banks,” taken from a Times headline published the same day.
Nakamoto included this as both a timestamp and a statement of purpose. It is a critique of central bank money creation and the failure of the traditional financial system during the 2008 crisis. Since then, the phrase has become a rallying cry for Bitcoin supporters who see the cryptocurrency as an antidote to centralized financial power.
Even the name of the card, Coinbase, is steeped in Bitcoin DNA. In blockchain terminology, a “coinbase transaction” is the first transaction of each new block, through which new Bitcoins are created and awarded to miners.
This is a fundamental part of how the network works, and Coinbase's adoption of the term ties its brand directly to Bitcoin's most important feature: creating new currencies without a central authority.
Taken together, these design choices are intended to resonate with a specific audience: those who value Bitcoin not just as an asset, but as a philosophy rooted in financial sovereignty, resistance to censorship, and distrust of the traditional banking system.
Features, deployment plans, market background
The Coinbase One Amex card is only available to subscribers of Coinbase One, the company's paid membership program. Eligible cardholders can earn up to 4% cashback on Bitcoin on purchases, and rewards scale based on the assets held in Coinbase.
The card has no foreign transaction fees and can be repaid using linked bank accounts or cryptocurrencies held on the platform. Cardholders also have access to standard American Express benefits, including exclusive offers and events.
Coinbase notes that while Bitcoin rewards earned through spending will not appear on 1099 tax forms, taxes may apply if those rewards are later sold.
Although Coinbase emphasizes Bitcoin's heritage in its marketing, cryptocurrency loyalty cards are not new.
For example, Gemini launched a credit card in 2023 that offers up to 3% cryptocurrency cashback on purchases and supports a variety of digital assets, from Bitcoin and Ether to stablecoins.
The difference is in positioning. While Gemini markets its product as a convenient spending tool to earn cryptocurrency rewards, Coinbase frames its AmEx card as something more symbolic: a way to align everyday financial activities with Bitcoin's founding spirit.
That distinction can be important. For users who simply want exposure to multiple cryptocurrencies, existing cards may still be more attractive. But for those who consider themselves, or want to be, part of Bitcoin's story, Coinbase is betting that ideology and identity will be just as powerful an attraction as cashback rates.
