Latest news with #CoinbaseOneCard
Yahoo
a day ago
- Business
- Yahoo
Crypto Currents: Coinbase, Shopify partner for USDC payments
As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter COINBASE, SHOPIFY PARTNER FOR USDC PAYMENTS: On Thursday, Coinbase (COIN) announced a partnership with Shopify (SHOP). The company said, 'We are working together to bring commerce onchain by making it easy for all merchants on Shopify Payments to accept USDC payments on Base. We're rolling this out with early access merchants today, and will expand to all stores around the globe running Shopify Payments later this year. The future of payments is here. Shopify chose Base to bring crypto payments mainstream because it offers fast, cheap, and secure onchain transactions everywhere around the world. This partnership represents a significant step toward Base's mission to bring a billion people onchain.' Additionally at its State of Crypto Conference, Coinbase announced that it(AXP) Network. The Coinbase One Card will offer up to 4% bitcoin back on every purchase, offered by Coinbase and Cardless, and issued by First Electronic Bank. Will Stredwick, SVP, global network services at American Express, said, 'In today's world, we see real potential in the combination of Coinbase and crypto with the Powerful Backing of American Express, and what the card offers is an excellent mix of what customers are looking for right now…The Coinbase One Card will offer crypto rewards alongside unique benefits, offers, experiences, and protections through the American Express Network.' The company also announced Thursday that it will be launching a Coinbase Business financial platform later this year. The company said, 'At Coinbase, we've spent over a decade building the trusted foundation for the cryptoeconomy to increase economic freedom around the world. Now, we're bringing that same security, scale, and compliance to everyday businesses with Coinbase Business, a modern financial stack built with the speed and scale of crypto. Coinbase Business is purpose-built for modern operations and designed to streamline financial workflows for small-to-medium-sized businesses and startups. Whether you're looking to send and receive payments, manage crypto assets, or automate payouts, Coinbase Business allows you to do it all in one secure account.' On Friday, BofA raised the firm's price target on Coinbase to $259 from $216 and kept a Neutral rating on the shares. With the GENIUS and CLARITY Acts through committee, the firm thinks that regulatory clarity will be achieved over the near-term, which would broaden crypto participation, and it is raising its multiple and revising up volume estimates for Coinbase's institutional business in order to embed the benefit of greater regulatory clarity. However, while positive on the regulatory front, the firm also views the retail trading backdrop as 'peakish' and views Coinbase's valuation as 'full' relative to its long-term growth prospects, the analyst said. Meanwhile on Wednesday, William Blair initiated coverage of Coinbase with an Outperform rating. The firm views the crypto industry as 'nascent, rapidly evolving, and poised for durable above-average growth,' measured by token market capitalization and transaction volume. Crypto's 'time on the fringe is ending,' replaced by an era of consistent regulation and expanding use-cases with the ultimate potential to supplant the traditional global financial system, the analyst said. Blair believes Coinbase's leadership creates an inherent advantage, and views the stock as the best way for growth investors to participate in a 'crypto renaissance.' It believes the company's solutions constitute the most comprehensive crypto services portfolio, underpinned by security and trust. BITCOIN DEPOT ACQUIRES ASSETS OF PELICOIN: Bitcoin Depot (BTM) announced Wednesday it has acquired the assets of Pelicoin, a crypto ATM operator based in New Orleans, Louisiana. The deal will add kiosk locations across Louisiana, Mississippi, Tennessee, Alabama, and Texas, strengthening Bitcoin Depot's presence in the Gulf South. Pelicoin's ATM network will be fully integrated into Bitcoin Depot's platform in the coming weeks, with all locations transitioning to Bitcoin Depot branding. The financial terms of the transaction were not disclosed. 'Pelicoin is a strategic addition to our footprint in a region where we see real opportunity,' said Brandon Mintz, CEO. 'Pelicoin's locations give us a stronger presence in the Gulf South, and we can immediately apply our scale and experience to operate their machines more efficiently. This acquisition is part of our broader effort to consolidate a fragmented market and extend our leadership in cash-to-crypto access nationwide. As the industry matures, we believe our ability to integrate and optimize smaller networks is a key advantage.' Following the news, Northland raised the firm's price target on Bitcoin Depot to $8.50 from $7 and kept an Outperform rating on the shares. While this 'appears to be a relatively small acquisition,' the firm views it as 'a testament' to management executing on its kiosk acquisition roll-up strategy, the analyst said. STRATEGY BUYS MORE BITCOIN: Strategy (MSTR) announced Monday updates with respect to its at-the-market offering programs and bitcoin holdings. The company raised $112.2M and purchased 1,045 bitcoin for an aggregate purchase price of $110.2M during the period of June 2 to June 8. As of June 8, the company's aggregate bitcoin holdings were 582,000. JPMORGAN UPDATES BITCOIN MINER PRICE TARGETS: On Friday, JPMorgan raised the firm's price target on Riot Platforms (RIOT) to $14 from $13 and kept an Overweight rating on the shares. The firm updated bitcoin miner price targets and models to reflect the Q1 results and changes in bitcoin price and the network hashrate. JPMorgan applied a sum-of-the-parts valuation framework, which values miners based on their mining operation, land and power portfolio, and bitcoin holdings. The analyst also raised the firm's price target on Mara Holdings (MARA) to $19 from $18 and kept a Neutral rating on the shares as well as on CleanSpark (CLSK) to $14 from $12 and keeps an Overweight rating on the shares. WALMART, AMAZON MULL ISSUING STABLECOINS: Walmart (WMT), Amazon (AMZN), and other multinational companies as well as Expedia Group (EXPE) and airline companies have explored whether to issue their own stablecoins in the U.S., the Wall Street Journal's Gina Heeb, AnnaMaria Andriotis, and Josh Dawsey reported Friday, citing people familiar with the matter. Stablecoins could allow merchants to get around traditional payment restrictions and offer the possibility for a quicker process. OTHER CRYPTO NEWS: Riot Platforms reports beneficial ownership of 14.3% in Bitfarms (BITF) Stablecoin 'quietly become' second largest miner, says BTIG PayPal (PYPL) plans to make its stablecoin available on the Stellar network TeraWulf (WULF) price target raised to $6 from $4.50 at Rosenblatt CRYPTO STOCK PLAYS: Publicly traded companies in the space include Bit Digital (BTBT), Coinbase, Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings, Strategy, Riot Platforms and TeraWulf. PRICE ACTION: As of time of writing, bitcoin was roughly flat this week at $104,990 in U.S. dollars, according to CoinDesk. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on COIN: Disclaimer & DisclosureReport an Issue Spetz says Sonic blockchain's native token $S set to be listed on Coinbase USDC Comes to Shopify, Coinbase Deal Could Boost SHOP Stock Coinbase price target raised to $259 from $216 at BofA Coinbase Launches First-Ever American Express Credit Card with 4% Bitcoin Cashback Coinbase Global: Hold Rating Amid Strategic Growth and Market Uncertainties
Yahoo
2 days ago
- Business
- Yahoo
Coinbase and American Express to launch 4% bitcoin reward card
Coinbase has announced it will launch its new Coinbase One Card later this year in partnership with American Express. The card will run on the American Express network while being issued by First Electronic Bank. With up to 4% bitcoin back on purchases, this is welcome news for cryptocurrency enthusiasts seeking more competition in the crypto credit card market. However, it's too early to tell if this offering is better than what's currently available with crypto-based Gemini Credit Card or even an everyday cash-back credit card. The Coinbase One Card launches in fall 2025 — you can sign up now for the early-access waitlist using the Coinbase website. Earn between 2% and 4% bitcoin back on every purchase — you can unlock the higher earning rates by holding more assets with Coinbase. It's only available with a Coinbase One subscription, which will soon be available to all customers starting at $49.99 per year. The Coinbase One Card is only available in the U.S. (excluding U.S. territories). While more details will be released in the fall, here's what we know about the Coinbase One Card for now. Cardholders will earn 2%, 2.5%, 3%, or 4% bitcoin back on purchases, depending on their Coinbase assets. The more Coinbase assets you hold (we don't know specific numbers yet), the higher your earnings rate. It isn't explicitly stated whether the Coinbase One Card has an annual fee. Our assumption is that it won't because you have to pay for a Coinbase One subscription to qualify for the card. One of the FAQs on the landing page also states that 'the Coinbase One Card is exclusively available to Coinbase One members at no added charge.' Apart from the rewards rate, there are no foreign transaction fees. Cardholders also receive Coinbase One and American Express benefits.$0 trading fees on the first $500 per month in trades (a spread applies) 4.5% APY on USDC rewards (on the first $10,000, then 4.1%) 5% more staking rewards on ETH, SOL, and other eligible assets $120 ($10 per month) transaction credits on BaseAccess to Amex Offers and Amex Experiences (perks only available on American Express credit cards) Car rental loss damage Emergency assistance Extended warranty Lost luggage insurance Retail protection Return protection Roadside assistance Trip cancellation and trip interruption The Coinbase One Card is only available to eligible applicants who are Coinbase One members located in the U.S. (excluding U.S. territories). Coinbase One is a monthly subscription that provides different benefits depending on which subscription tier you sign up for. For example, the Basic tier provides zero trading fees on simple trades (a spread applies) up to a certain dollar amount per month. However, the Premium tier has no set dollar amount, giving you unlimited simple trades with zero trading fees. Coinbase One Basic currently costs $29.99 per month or $299.88 per year. Coinbase One Premium costs $299.99 per month. You can pay for Coinbase One with a linked bank account, linked debit card, linked PayPal account, fiat wallet, or crypto. On the topic of Coinbase One subscriptions, Coinbase has stated that 'annual memberships starting at $49.99/year will be available to all customers soon.' We don't yet have all the information for the Coinbase One Card, but based on what we do know, here's how it compares to the Gemini Credit Card. If earning BTC is your priority, the Coinbase One Card looks like the better option because you can earn up to 4% back on every purchase. We don't currently know if there's a limit to how much you can earn at this rate, but we do know the 4% rate on the Gemini Credit Card has a limit of $300 in spend per month, then the rate drops to 1% for the rest of the month. The Gemini Credit Card is also less appealing because its rewards rate is separated into different bonus categories. Compare this to the Coinbase One Card, which has a flat rate that rewards you for any type of eligible purchase, regardless of category. However, the Gemini Credit Card has a welcome bonus, and we don't know if the Coinbase One Card will have one. You can also earn over 50 types of cryptocurrency with the Gemini Credit Card, while the Coinbase One Card seems to be solely focused on bitcoin. Related: Can you buy crypto with a credit card? This article was edited by Alicia Hahn. Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
Yahoo
2 days ago
- Business
- Yahoo
Coinbase to Launch Bitcoin Rewards Card With Amex, While Eyeing U.S. Futures Expansion
Crypto exchange Coinbase is planning to launch a credit card that offers bitcoin BTC cashback, the company said on Thursday. The Coinbase One Card, issued in partnership with American Express, includes perks such as earning 4% in BTC after purchases, boosted rewards on USDC stablecoin holdings and higher staking rewards and transaction credits on Base, the Ethereum layer-2 network developed by the exchange, according to the card's website. The card's rollout is expected this fall. The move comes as more crypto platforms and exchanges are rolling out payment cards to enable users to spend their blockchain-based token stash on everyday purchases. For example, self-custodial wallet MetaMask introduced its debit card last year, while Mastercard unveiled plans in April to launch debit cards with crypto exchanges OKX and Kraken. It's also not the first crypto endeavour for Amex, either: the company issued a credit card offering crypto rewards with Abra in 2022. Coinbase's announcement coincided with the company's State of Crypto Summit event in New York, where the exchange also hinted at expanding perpetual futures trading to the U.S., according to media reports. Perps trading has been limited to non-U.S. users at Coinbase Advance. However, the exchange said earlier this year in a blog post that it was working with the Commodity Futures Trading Commission (CFTC) towards making "perpetual-style futures contracts" accessible to U.S. users. Sign in to access your portfolio
Business Wire
3 days ago
- Business
- Business Wire
Cardless Unveils Embedded Credit Card Platform, with Coinbase as First Partner
SAN FRANCISCO--(BUSINESS WIRE)--Cardless, a leading fintech innovator known for its transformative credit card technology, today announced the launch of its embedded credit card platform, a breakthrough solution designed to help brands build their own credit card programs. Coinbase (Nasdaq: COIN), the largest U.S.-based cryptocurrency platform, is the inaugural partner utilizing this infrastructure to build the Coinbase One Card, a premium consumer credit offering for Coinbase loyalty members integrated directly into the Coinbase digital experience. This news represents a shift in the credit card ecosystem, enabling brands to take control of their financial relationships with customers and pivot away from legacy co-branding arrangements. Cardless' model delivers custom, embedded credit card programs that drive higher brand engagement and loyalty through improved rewards and membership benefits. Unlike traditional co-branded credit card models, Cardless' API-based platform, underwriting, and servicing workflows enable brands to natively build lending infrastructure directly within their app or webpage, creating delightful customer experiences and driving higher conversion. Cardless' embedded credit card platform empowers brands to launch and manage customizable card programs with full control over the user experience. With a robust suite of APIs, rapid deployment capabilities, and pre-built flows, Cardless simplifies the complexities of card issuance, compliance, customer support, and capital markets. By ingesting customer data to personalize rewards and loyalty features, Cardless helps brands drive stronger engagement and performance—enabling higher application volumes, improved conversion rates, and increased customer retention compared to traditional programs. 'Until now, a brand had to become a bank or strike a complex M&A deal to build a truly differentiated credit card,' said Michael Spelfogel, President and Co-Founder of Cardless. 'Our embedded offering removes that barrier, enabling leading brands like Coinbase to build a deeply integrated custom credit card program in record time, delivering a unique loyalty value proposition for their customers.' Coinbase today launched the Coinbase One Card waitlist for Coinbase One subscribers, who will be able to earn up to 4% back in bitcoin on every purchase. The Card will become available in the U.S. this fall. Powered by the American Express Ⓡ network, the Coinbase One Card combines everyday usability with crypto-native rewards and access to American Express experiences, offers, and protections. Learn more here. 'Partnering with Cardless has let us build a deeply customized and secure card product that aligns with our mission to increase economic freedom and makes it easy for people to earn rewards with the power to grow,' said Max Branzburg, Head of Consumer & Business Products at Coinbase. About Cardless Cardless partners with brands to design and manage innovative co-branded credit card programs. The company's seamless digital experience and powerful technology enable personalized rewards and enhanced customer benefits. The Coinbase One Card will be issued by First Electronic Bank. Terms and conditions will apply for the Coinbase One Card and the rewards program. American Express is a registered trademark of American Express and is used by the issuer pursuant to a license. For more information, please visit About Coinbase Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We're updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.
