American Express and Abra are launching a new credit card that will allow shoppers to earn cryptocurrency rewards “tradable in 100+ different cryptocurrencies” with no annual or foreign transaction fees.
American Express and Abra launch a Crypto Rewards credit card
American Express (Amex) and crypto trading platform and wallet provider Abra on Friday announced the upcoming launch of the Abra Crypto Card on the American Express network. Abra described the new card as follows:
The first crypto rewards credit card in the American Express network that settles in US dollars and returns crypto for any purchase category and amount.
“The crypto rewards will be tradable in over 100 different cryptocurrencies supported by Abra with no annual or foreign transaction fees,” the crypto company explained.
The Abra Crypto Card will offer multiple benefits of the American Express Network, including Amex offers, advance ticketing access, global dining benefits and purchase protection.
Mohammed Badi, President of Global Network Services at American Express, commented, “One of the ways we support commerce development and innovation is by facilitating fintechs to develop and scale innovative payment solutions that power 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 portfolio of investments.”
Interested customers can now wait-list for the card, which Abra expects “will not be available until late 2022.”
Additionally, on Friday, the crypto firm announced a new feature to buy and sell non-fungible tokens (NFTs) “with managed custody and [a] full collection gallery in abra app which removes the hassle and minimizes the risks of using defi [decentralized finance] Purses.”
Will you apply for this American Express crypto rewards card? Let us know in the comment section below.
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