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Coinbase to Launch Bitcoin-Themed Amex Card With Up to 4% Cashback

Coinbase introduces a new U.S.-exclusive Amex card for Coinbase One members, featuring Bitcoin Genesis Block elements and offering up to 4% cashback, aligning with the cryptocurrency's origins.

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Summary

Coinbase is preparing to release a new American Express card in the U.S. this fall for Coinbase One subscribers, offering up to 4% Bitcoin cashback based on asset holdings. The card’s design will incorporate hexadecimal data from Bitcoin’s Genesis Block, highlighting the cryptocurrency's roots. It features no foreign transaction fees, repayment options via bank or crypto, and standard Amex perks. This launch aims to attract Bitcoin enthusiasts and differentiate Coinbase from competitors such as Gemini's multi-asset crypto rewards card.

Terms & Concepts
  • Genesis Block: The first block ever mined on the Bitcoin blockchain by Satoshi Nakamoto on January 3, 2009, marking the start of the Bitcoin network.
  • Coinbase Transaction: The first transaction in a newly mined block, creating new bitcoins as a reward to miners.
  • Hexadecimal Code: A base-16 numbering system used in computing, often employed to represent raw blockchain data like that from Bitcoin's Genesis Block.