Original Title: "Coinbase Launches Up to 4% Bitcoin Cashback Credit Card + Perpetual Contracts Available for U.S. Retail Investors"
Original Author: Editor Jr., BlockTempo
The U.S. listed trading platform Coinbase launched two new products for the U.S. market at its annual cryptocurrency summit on June 12: CFTC-regulated perpetual futures trading and an American Express co-branded credit card offering up to 4% Bitcoin cashback, expanding its compliance derivatives and everyday payment landscape.
Coinbase Completes Product Ecosystem
Max Branzburg, head of Consumer and Business Products, pointed out that the derivatives market currently accounts for 75% of the global cryptocurrency market trading volume, and the retail perpetual futures trading volume on Coinbase's international platform reached $5 billion in May, but there has been no corresponding service in the U.S. The launch of CFTC-approved compliant perpetual futures and high cashback credit cards aims to target two major groups: leveraged traders and high-spending users.
Details of Coinbase Perpetual Futures
The new product retains the "no expiration date" feature of offshore perpetual futures, anchored by funding rates and spot prices, and operates according to U.S. margin and clearing regulations, essentially similar to the perpetual contracts offered by various trading platforms. Branzburg stated, "Coinbase does not intend to make cryptocurrency derivatives trading a non-U.S. phenomenon." Now, U.S. investors can expect to use perpetual contracts under a compliant regulatory framework, reducing the incentive for capital outflow to offshore trading platforms.
Bitcoin Cashback Credit Card
On the other hand, the Coinbase One credit card is expected to be issued in the fall, issued by First Electronic Bank and processed through the American Express network. Cardholders can earn up to 4% BTC cashback on every purchase, with rewards directly deposited into their Coinbase wallet and no foreign transaction fees. If users have a larger asset scale on the platform, the cashback rate will further increase.
Currently, the card is only available to Coinbase One members, with an annual fee of $49.99. Members also enjoy no transaction fees on the first $500 of spot trading, a 4.5% annual yield on USDC (capped at $10,000), an additional 5% staking yield, and a $10 monthly Base wallet gas subsidy. The new card targets high-end customers and Bitcoin cashback.
Strategic Impact
The launch of perpetual futures fills a gap in Coinbase's U.S. leveraged tools market, potentially attracting capital back and increasing platform trading volume; while the credit card brings Bitcoin directly into the retail payment space, enhancing user stickiness and asset retention. The company also recently 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 leverage in the competitive trading platform arena.
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