Abra Launches First BTC Card On The American Express Network

Abra launches first BTC card on the American Express Network and now all cardholders can earn crypto on purchases made with the card so let’s read more today in our latest Bitcoin news today.

Abra launches first BTC Card on the American Express Network and will give cardholders the chance to earn BTC as a reward for making purchases. The President of Global Network Services at American Express noted:

“We’ve known Abra for a long time—since 2015—and we’ve been excited about [Abra founder and CEO] Bill [Barhydt]’s vision. And we wanted to play our role in supporting Bill and his vision, and having an Abra card on the American Express network felt like a natural next step.”

BIG NEWS Today @AbraGlobal Fans…

1. The Abra Crypto Card on the American Express Network

2. The Abra NFT service for one click buying, selling, sharing NFTs without leaving the Abra App

3. There's more!! 🧵…https://t.co/b0g56Cdh6O#Bitcoin #CPRX

— Bill Barhydt (@billbarhydt) June 10, 2022

Before the announcement in Austin, Barhydt said that the Abra Crypto Card is a traditional credit card and that the cardmembers will get a statemetn in US dollars as well as crypto rewards in exchange for these payments. He added that the crypto reward options will start with BTC and ETH and more perks are coming later on. Barhydt added that the program is scheduled to launch later this year. He added:

“What we bring to the table is the rest of the American Express set of assets and capabilities. So you’ve got a lot of what you would expect to have if you have an American Express card.
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The Abra crypto card customers will be able to take advantage of the Express’ global reach while trading the earned rewards for crypto in the Abra app. Badi continued:

“The combination of what Abra is bringing and what American Express is bringing makes us unique. Abra’s value proposition is unique in and of itself. You bring Amex into the picture, it’s a great proposition.”

Barhydt went on to say that Abra is evaluating which additional cryptocurrencies will get included in the program:

“There are still a few details we’re working through. We want to have as many options as possible. And it needs to be done in a responsible way.”

Abra will make the final list of cryptos that can be earned s a reward closer to launch but Abra’s goal is to ensure that people are getting actual value out of the crypto rewards card:

“I’m excited at the directions the teams are going to figure this out.”

American Express is a part of a growing list of payment processors that are coming in Web3 and even Mastercard announced a partnership with NFT marketplaces so the collectors can use the debit cards to purchase NFT directly. American Express filed for trademarks linked to virtual services and its logo but also requests to secure trademarks on software for credit cards, travel, and entertainment.