Share this article
Coinbase Debit Card Now Works With Apple Pay
The integration brings the crypto exchange’s rewards-heavy spending tool to the iPhones of U.S. users.
By Danny Nelson
Updated May 9, 2023, 3:20 a.m. Published Jun 1, 2021, 1:38 p.m. 1 min read
Coinbase’s Visa debit card will sync with Apple Pay and Google Pay, the crypto exchange said Tuesday.
Additionally, Coinbase said in a blog post it will begin offering cash-back spending reward features to waitlisters this week. The card is available across the U.S. (with the exception of Hawaii); a variation rolled out in European markets in 2019.
The debit card works by converting users’ cryptocurrency balances, such as bitcoin, to fiat at point of sale, allowing them to essentially pay with crypto at any card-accepting merchant. Notably, it promises 4% rewards in stellar and 1% in bitcoin. Most debit cards don’t have a cash-back program, let alone one in crypto.
But competition for crypto payments is picking up.
Mastercard and Gemini are preparing to unveil a crypto credit card with 3% bitcoin returns. And BlockFi, too, has a rewards-fueled crypto credit card in the works. As bitcoin becomes ensconced as an asset rather than as a medium of exchange in the minds of most users, the spending enticements could move the needle on crypto payments despite unfavorable U.S. tax laws.
Coinbase said Tuesday that approved users can immediately begin using their cards with Apple Pay.
More For You
Project Agorá, backed by major central banks, will now move toward "real-value" testing to settle tokenized central bank money and bank deposits on blockchain rails.
What to know:
- Project Agorá, backed by the Bank for International Settlements, found that tokenizing central bank reserves and commercial bank deposits could significantly improve the speed and reliability of payments across borders.
- With major central banks like the New York Fed, Bank of England and Bank of Japan involved, members now plan...
Top Stories
