American Express and Abra Launching Crypto Rewards Credit Card

American Express and Abra Launching Crypto Rewards Credit Card
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BUSINESS

American Express and Abra Launching Crypto Rewards Credit Card

American Express and Abra are launching a new credit card that will allow customers to earn cryptocurrency rewards that are "tradable across over 100 different cryptocurrencies"

06/12/2022

American Express and Abra are launching a new credit card that will allow customers to earn cryptocurrency rewards that are “tradable across over 100 different cryptocurrencies” without paying any yearly or international transaction fees.

On Friday, American Express (Amex) and Abra, a cryptocurrency trading platform and wallet provider, announced the forthcoming launch of the Abra Crypto Card on the American Express network. Abra explained the new card as follows:

“The first American Express network crypto rewards credit card that will transact in US dollars and offer crypto back on any transaction category and quantity.”

Crypto awards will be tradable across over 100 different cryptocurrencies

“The crypto awards will be tradable across over 100 different cryptocurrencies offered by Abra, with no yearly or international transaction fees,” explained the crypto startup.

According to Abra, the Abra Crypto Card will provide various perks from the American Express Network, including Amex Offers, presale ticket access, worldwide dining benefits, and purchase safeguards.

“One of the ways we support 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,” said Mohammed Badi, president of Global Network Services at American Express.

Customers who are interested in the card can already sign up for the waitlist, which Abra anticipates will be available “in late 2022.”

Furthermore, the crypto business unveiled on Friday a new feature for buying and selling non-fungible tokens (NFTs) “with managed custody and [a] comprehensive collection gallery in the Abra app that will reduce the inconvenience and decrease the hazards of utilizing defi [decentralized finance] wallets.”

By Elah Mae Ariate Wozinga Staff

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