American Express and Abra are launching a new credit card that will allow shoppers to earn cryptocurrency rewards “tradable across over 100 different cryptocurrencies” without annual or foreign transaction fees.
American Express and Abra Launching Crypto Rewards Credit Card
American Express (Amex) and crypto trading platform and wallet provider Abra announced the upcoming launch of the Abra Crypto Card on the American Express network Friday. Abra described the new card as:
The first crypto rewards credit card on the American Express network that will transact in U.S. dollars and offer crypto back on any purchase category and amount.
“The crypto rewards will be tradable across over 100 different cryptocurrencies supported by Abra, with no annual or foreign transaction fees,” the crypto company detailed.
The Abra Crypto Card will offer several benefits from the American Express Network, including Amex Offers, presale ticket access, global dining benefits, and purchase protections, Abra further noted.
Mohammed Badi, president of Global Network Services at American Express, commented: “One of the ways we back the evolution and innovation of commerce is by making it easier for fintechs to develop and scale innovative payment solutions leveraging the American Express global payments network and the Amex/i2c platform.” The Amex executive added: “We have a long-standing relationship with Abra through our Amex Ventures investment portfolio.”
Interested customers can now join the waitlist for the card, which Abra expects “to be first available in late 2022.”
In addition, the crypto firm announced Friday a new feature to buy and sell non-fungible tokens (NFTs) “with managed custody and [a] full collection gallery in the Abra app that will remove the hassle and minimize the risks of using defi [decentralized finance] wallets.”
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A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
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