Coinbase is preparing to launch a new American Express credit card in the U.S. this fall, and everything about it — from the design to the rewards — seems tailored to bitcoin enthusiasts. A card built around bitcoin’s origin story Unlike most crypto-linked cards, Coinbase’s upcoming product isn’t just about perks — it’s about symbolism. The card is etched with data from the Genesis Block, the very first block ever created on the Bitcoin network by pseudonymous inventor Satoshi Nakamoto on Jan. 3, 2009. That single 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’s a direct reference to Bitcoin’s founding moment. The hexadecimal code printed on the card is part of the raw data from that 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 Bitcoin’s original history was written — and now, it’s literally etched into a physical financial product. Embedded in that block was a now-famous message taken from a Times newspaper headline published on the same day: “Chancellor on brink of second bailout for banks.” Nakamoto included it as both a timestamp and a statement of purpose — 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 card’s name — Coinbase — is steeped in Bitcoin’s DNA. In blockchain terminology, a “coinbase transaction” is the first transaction in each new block, through which new bitcoin is created and awarded to miners. It’s a foundational part of how the network operates, and by adopting the term, Coinbase is tying its brand directly to Bitcoin’s most essential function: the creation of new money 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 — one rooted in financial sovereignty, resistance to censorship, and distrust of legacy banking systems. Features, rollout 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% cashback in bitcoin on purchases, with rewards scaling based on the assets they hold on Coinbase. The card will carry no foreign transaction fees and can be repaid using either a linked bank account or crypto held on the platform. Cardholders will also gain access to standard American Express perks, including exclusive offers and events. Coinbase says that bitcoin rewards earned through spending won’t appear on 1099 tax forms, although taxes may apply if those rewards are later sold. While Coinbase is emphasizing bitcoin’s heritage in its marketing, crypto rewards cards are not new. Gemini, for example, launched a credit card in 2023 that offers up to 3% crypto cashback on purchases and supports a variety of digital assets, from bitcoin and ether to stablecoins. The difference is in positioning: Gemini markets its product as a convenient spending tool for earning crypto rewards, while Coinbase is framing its Amex card as something more symbolic — a way to align everyday financial activity with Bitcoin’s founding ethos. That distinction could matter. For users who simply want exposure to multiple cryptocurrencies, existing cards may remain more appealing. But for those who see themselves as part of the Bitcoin story — or want to be — Coinbase is betting that ideology and identity will be as powerful a draw as cashback percentages.
