Coinbase Launches Bitcoin Rewards Card to Drive Subscriber Growth
Coinbase launched its first branded credit card, the Coinbase One Card, which rewards holders with up to 4% Bitcoin back on purchases. The card will be available this fall exclusively to U.S.-based Coinbase One customers and is developed in partnership with American Express. Coinbase One offers benefits like zero trading fees and enhanced staking rewards. The company is considering expanding rewards to include other cryptocurrencies like Ethereum or Solana. Coinbase aims to diversify its revenue streams, with subscription services growing significantly; Q1 2025 subscription revenue reached $698.1 million, a 9% increase from the previous quarter. The total revenue for Q1 was $2.03 billion, a 24% year-over-year increase. Coinbase One's subscriber base has surpassed 1 million users in two years. The launch aligns with recent U.S. crypto regulation changes and industry innovation.
