Coinbase (COIN) Stock: Launches Bitcoin Rewards Credit Card with American Express

TLDR

Table of Contents

Coinbase (COIN) launched its first American Express credit card offering up to 4% Bitcoin cashback, exclusively for paying subscribers
The Coinbase One Card launches this fall, tied to the company’s $29.99/month subscription service with a new $4.99 Basic tier
Coinbase is pursuing CFTC approval for U.S. perpetual futures trading to diversify revenue beyond volatile trading fees
The company unveiled multiple new products including Shopify payment integration and USDC-powered business solutions
Analysts maintain cautious optimism with 12 Buy ratings, 11 Hold ratings, and zero Sell ratings among 23 Wall Street analysts

Coinbase just rolled out its first branded credit card. The exchange partnered with American Express to offer up to 4% Bitcoin cashback on purchases.

But there’s a catch. Only paying subscribers can get the card. The Coinbase One Card launches this fall. It’s tied directly to the company’s monthly subscription service, Coinbase One.

Users pay $29.99 per month for access to the Bitcoin rewards card. They also get higher staking rewards and more transaction credits on the Base network.

Coinbase is adding a cheaper option too. A new Basic plan will cost $4.99 per month. Will Stredwick from American Express called it “an excellent mix of what customers are looking for right now.” He made the comment at Coinbase’s State of Crypto Summit.

COINBASE AND AMEX LAUNCH ‘COINBASE ONE CARD’ WITH 4% BACK IN BITCOIN
The new partnership offers BTC rewards on everyday purchases via a premium co-branded card.
It marks a major crypto entry point into traditional credit card infrastructure.
Source: @WatcherGuru pic.twitter.com/WKGloahfJ2
— Crypto Town Hall (@Crypto_TownHall) June 13, 2025

The card isn’t just a perk. It’s part of a bigger strategy to build recurring revenue. Trading still brings in serious money. Coinbase made $1.26 billion from trading in Q1 alone.

But the company wants to reduce its dependence on volatile trading fees. Services like Coinbase One, Base, staking, and custody brought in $698.1 million last quarter.

Building a Subscription Empire

Coinbase isn’t trying to become a bank. It’s building a subscription business. More subscribers mean more predictable revenue. That’s less exposure to the ups and downs of crypto trading volume.

The exchange also announced plans for U.S. perpetual futures trading. Talks with the CFTC are already happening. If approved, this could add another stable revenue stream. Perpetual futures are high-volume products that have been offshore-only until now.

The timing makes sense. Pairing Bitcoin rewards with professional trading tools could lock in both retail and institutional users.

Crypto credit cards have a rough track record. Abra scrapped its American Express card. Gemini’s card exists but hasn’t gained much traction.

Venmo offers “Cash Back to Crypto” but it’s more of a novelty than a game-changer. Coinbase is betting on two things. First, American Express brings trust and reliability. Second, direct Bitcoin rewards tied to a growing subscription ecosystem could be different.

Analyst Sentiment Remains Positive

Wall Street analysts are cautiously optimistic about Coinbase’s direction. Among 23 analysts tracked by TipRanks, 12 rate the stock a Buy while 11 say Hold.

No analysts currently rate Coinbase as a Sell. The average price target sits at $263, suggesting about 9% upside from current levels.

Cantor Fitzgerald kept its Overweight rating and $292 price target after the State of Crypto event. The firm sees Coinbase as “mission-critical infrastructure” rather than just a cyclical exchange.

The company unveiled several other products at the summit. Shopify will implement a new Coinbase payments protocol. There’s also a USDC-powered payments product and treasury management tools for businesses.

Coinbase plans to integrate all decentralized exchanges on Base into its main app. Users will be able to trade virtually any on-chain asset in one location.

The exchange is also integrating Deribit with Coinbase Prime, though analysts worry about potential interface changes.

Coinbase’s revenue grew 76.45% over the last twelve months. The company maintains a current ratio of 2.52, showing strong liquidity to support these new initiatives.

The regulatory environment is starting to favor crypto companies. David Plouffe, a senior adviser to Kamala Harris’ 2024 presidential campaign, recently joined Coinbase’s global advisory council.

Coinbase stock closed down 3.84% at $241.05 following the product announcements.

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