Latest news with #WillStredwick
Yahoo
21 hours ago
- Business
- Yahoo
Coinbase Rolls Out 4% Bitcoin Cashback Card
Coinbase (NASDAQ:COIN) is leaning into subscriptions with its first American Expressbranded credit card, promising up to 4% Bitcoin (BTC-USD) back for paying members. The Coinbase One Card launches this fall and ties directly to Coinbase One's $29.99 monthly plan, which already offers higher staking rewards and transaction credits on its Base blockchain. A new $4.99 Basic tier will give lighter users a taste of perks without full Bitcoin cashback. Warning! GuruFocus has detected 6 Warning Signs with COIN. By making the card exclusive to subscribers, Coinbase is shifting its revenue mix away from trading fees$1.26 billion in Q1toward predictable, recurring streams. Last quarter, its services suite (Coinbase One, Base, staking, stablecoins and custody) generated $698.1 million, and analysts say subscription growth is the linchpin for long-term stability. Amex's Will Stredwick praised the card as an excellent mix of what customers are looking for right now, underlining the appeal of direct crypto rewards through a trusted partner. Beyond consumer incentives, the card rollout sets the stage for Coinbase's push into U.S. perpetual futureshigh-volume contracts previously available only offshore. Talks with the CFTC are underway, and approval could add institutional-grade revenue alongside the retail flywheel the card aims to spin. If subscribers stick around for both perks and pro products, Coinbase could build a durable moat in an industry plagued by fee volatility. Why It Matters: Embedding Bitcoin rewards in a subscription paywall could transform Coinbase's business model from cyclical trading income to stable, engaged user cohorts. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
2 days ago
- Business
- CNBC
Coinbase beefs up subscription plan by offering it with American Express credit card
Coinbase on Thursday introduced its first branded credit card in partnership with American Express. The card will be available exclusively to U.S. members of Coinbase One, the cryptocurrency platform's monthly subscription product that offers zero trading fees, increased staking rewards and other perks. Additionally, Coinbase is also creating a lower-cost "Basic" subscription tier. Cardholders will be able to earn between 2% and 4% back in bitcoin, beginning this fall, and take advantage of experiences, protections and other benefits that are offered alongside the American Express network. Coinbase One costs $29.99 a month while a Basic tier with fewer rewards will cost $4.99 a month or $49.99 a year. "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," Will Stredwick of American Express global network services said at the Coinbase State of Crypto Summit in New York City. Coinbase's crypto exchange for retail and institutional investors is its core business, but the company has been building its subscription and services offering, comprised of stablecoins, staking, subscriptions like Coinbase One and custody, which supports the majority of bitcoin and ether ETFs. William Blair analyst Andrew Jeffrey said Wednesday that subscription revenue growth "will be the reason long-term investors own the stock." Trading revenue totaled $1.26 billion in the first quarter, while subscription and services revenue came in at $698.1 million for the quarter. Coinbase One launched in 2023 and has grown to more than one million members since. The company also operates a developer platform called Base and a self-custody wallet. The launch of the Coinbase One card comes as the crypto industry prepares for a boom in product launches and rollouts thanks to the pro-crypto policies of the Trump administration and more clearly defined crypto regulations expected from Congress in coming months. This is the first credit card launch for Coinbase, although it introduced a prepaid debit card in partnership with Visa in 2020. American Express has previously partnered with trading platform Abra on a crypto-back card that was due to hit the market in 2022 but never materialized. Other crypto-back cards have been discontinued or removed crypto as a redemption option. Of the remaining offerings, Gemini, the Winklevoss brothers' 11-year-old crypto trading platform that confidentually filed to go public last week, offers a crypto-back credit card, while PayPal-owned Venmo allows users to "earn" crypto from its credit card through an automated "Cash Back to Crypto" function.
