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 launch Crypto Rewards Credit Cards
American Express (Amex), crypto trading platform Abra, and wallet provider Abra announced that the Abra Crypto card will be launched on Friday via the American Express network. Abra described this new card as follows:
American Express has launched the first credit card that offers crypto rewards. This will be transacted in U.S. dollar and allow customers to earn crypto on all purchases.
“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.
Abra added that the Abra Crypto card will provide several benefits through American Express Network including Amex Offers and presale ticket access as well as global dining benefits and purchase protections.
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 available in Abra App that removes the need to use defi [decentralized finance] wallets.”
Do you plan to apply for American Express’ crypto rewards card? We’d love to hear from you in the comment section.
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