Coinbase Drops a Bombshell: 4% Bitcoin Cashback Credit Card + U.S. Compliant Perpetual Contracts

Original Title: "Coinbase Launches Bitcoin Cashback Credit Card with Rewards Up to 4% + Perpetual Contracts Now Tradable for U.S. Retail Investors"

Author: Editor Jr., BlockTempo

On June 12, during its annual cryptocurrency summit, U.S.-listed trading platform Coinbase announced the simultaneous launch of two new offerings for the U.S. market: CFTC-regulated perpetual futures trading and an American Express co-branded credit card with Bitcoin rewards of up to 4%. These initiatives aim to expand its compliant derivatives and everyday payments ecosystem.

Coinbase Completes Its Product Ecosystem

Max Branzburg, Head of Consumer and Business Products, noted that the derivatives market currently accounts for 75% of global cryptocurrency trade volume. While Coinbase’s international platform recorded $5 billion in retail perpetual futures trading volume in May, no equivalent service exists within the U.S. The launch of CFTC-approved compliant perpetual futures and a high-reward credit card seeks to target two key groups: leveraged traders and high-spending users.

Details of Coinbase Perpetual Futures

The new product adopts the "no expiry date" feature of offshore perpetual futures by anchoring to spot prices via funding rates and operating under U.S. margin and clearing regulations. Essentially, it is similar to perpetual contracts offered on other platforms. Branzburg stated, "Coinbase does not intend for cryptocurrency derivatives trading to remain a non-U.S. phenomenon." Now, U.S. investors can access perpetual contracts under a compliant regulatory framework, reducing the motivation to shift capital to offshore trading venues.

Bitcoin Cashback Credit Card

On the other hand, the Coinbase One credit card is set to launch this fall, issued by First Electronic Bank and processed via the American Express network. Cardholders can earn up to 4% BTC cashback on every purchase, with rewards directly deposited into their Coinbase wallets and no foreign transaction fees. For users with substantial asset holdings on the platform, the cashback rate will be further boosted.

Currently, the card is exclusive to Coinbase One members, with an annual fee of $49.99. Membership perks include zero fees for the first $500 of spot trades, a 4.5% annual yield on USDC (capped at $10,000), an additional 5% yield on staking rewards, and a $10 monthly Base wallet gas fee subsidy. The card is designed to attract high-end clientele with its Bitcoin rewards-focused proposition.

Strategic Impact

The launch of perpetual futures addresses Coinbase's gap in the U.S. leveraged instruments market, potentially drawing funds back to the platform and increasing trading volume. Meanwhile, the new credit card introduces Bitcoin directly into the retail payment sector, enhancing user engagement and asset retention. Recently, the company also announced its inclusion in the S&P 500 index, a $2.9 billion acquisition of Deribit, and partnerships with Shopify and Stripe to promote stablecoin payments—adding more firepower to its arsenal in the highly competitive trading platform battlefield.

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