Coinbase is preparing to launch a new American Express credit card in the United States this fall, and everything – from the design to the rewards – seems geared towards Bitcoin enthusiasts.
A map built around the origin story of Bitcoin
Unlike most crypto-related cards, Coinbase’s next product isn’t just about perks, but also symbolism.
The card is engraved with data from the Genesis block, the very first block ever created on the Bitcoin network by pseudonymous inventor Satoshi Nakamoto on January 3, 2009. This unique block launched the Bitcoin blockchain and marked the beginning of an entirely new financial system.
The inclusion of this data is more than a design choice: it is a direct reference to Bitcoin’s founding moment. The hexadecimal code printed on the card is part of the raw data in this first block.
For non-technical readers, hexadecimal (or “hex”) is simply a base-16 numbering system used in computing. It’s the digital language in which the original history of Bitcoin was written – and now it’s literally engraved into a physical financial product.
In this block was a now-famous message from a Times newspaper headline published the same day: “Chancellor on verge of second bank bailout”.
Nakamoto included it as both a timestamp and a statement of intent – a critique of central bank money creation and the failures of the traditional financial system during the 2008 crisis. It has since become a rallying cry for Bitcoin supporters who see the cryptocurrency as an antidote to centralized monetary power.
Even the name of the card – Coinbase – is ingrained in Bitcoin’s DNA. In blockchain terminology, a “coinbase transaction” is the first transaction of each new block, through which a new bitcoin is created and allocated to miners.
It is a fundamental part of how the network functions, and by adopting the term, Coinbase directly ties its brand to Bitcoin’s most essential function: the creation of new currency without a central authority.
Taken together, these design choices are meant 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 traditional banking systems.
Features, deployment plans and market context
The Coinbase One Amex Card will be available exclusively to subscribers of Coinbase One, the company’s paid membership program. Eligible cardholders will be able to earn up to 4% bitcoin cashback on their purchases, with rewards scaling based on the assets they hold on Coinbase.
The card will not incur any foreign transaction fees and can be redeemed using either a linked bank account or crypto held on the platform. Cardholders will also have access to standard American Express benefits, including exclusive offers and events.
Coinbase says Bitcoin rewards earned through spending will not appear on 1099 tax forms, although taxes may apply if those rewards are later sold.
While Coinbase emphasizes bitcoin heritage in its marketing, crypto rewards cards are nothing new.
Gemini, for example, launched a credit card in 2023 that offers up to 3% back in cryptocurrency on purchases and supports a variety of digital assets, from bitcoin and ether to stablecoins.
The difference lies in positioning: Gemini markets its product as a convenient spending tool for earning crypto rewards, while Coinbase presents its Amex Card as something more symbolic — a way to align everyday financial activity with Bitcoin’s founding philosophy.
This distinction could be important. For users who simply want exposure to multiple cryptocurrencies, existing cards may remain more attractive. But for those who see themselves as part of the Bitcoin story – or want to – Coinbase is betting that ideology and identity will be as powerful a draw as cashback percentages.
