Home Credit card Payments Giant American Express to Launch New Crypto Rewards Credit Card: Report

Payments Giant American Express to Launch New Crypto Rewards Credit Card: Report

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Payments giant American Express is reportedly set to launch its first-ever credit card offering crypto rewards.

According to a new report per Forbes, the financial titan is teaming up with crypto wealth management platform Abra to launch a credit card that would allow users to earn crypto rewards on any category or purchase amount.

Forbes also says the credit card will transact in US dollars and offer a number of benefits from the American Express network, such as travel, dining and shopping promotions.

While no specific date was mentioned, the card is expected to roll out by the end of the year.

According to Mohammed Badi, President of Global Network Services at American Express,

“This is a credit card for crypto explorers and enthusiasts.”

Abra CEO Bill Barhydt told Forbes that the crypto rewards will be redeemable across the 100 virtual assets supported by Abra and will have no foreign transactions or annual fees.

says Barhydt,

“[The partnership] represents another step towards Abra’s goal of eventually offering an instant line of credit directly at the point of sale. This is the future of payments.

American Express now joins fellow credit card giants Visa and Mastercard in offering support for crypto assets.

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