American Express launches a credit card with crypto bonuses

Payment giant American Express, in cooperation with the cryptocurrency company Abra offered its customers special Crypto credit card rewards. It made this decision against an increase in the market for credit products with tips in cryptocurrencies.

According to the head of Abra B. Barhydt, cardholders for purchases of any amount are offered bonuses in 100 different digital coins, without commissions for transfers. Formerly American Express partnered with Abra and provided it with development finance seven years ago. Other funds, such as Pantera Capital and Stellar Foundation, supported the company.

Express expects to take one of the leading positions in the cryptocurrency bonus market through the new American offer. Now it is dominated by a few players. They are Gemini, which offers rewards in Bitcoin and altcoins, Visa, similar bonuses, and BlockFi. Now American Express is joining them.

American Express is confident that such a credit card with bonuses in cryptocurrencies will further expand the customer base and attract additional investment in the market. Despite the decline in leading digital assets, more and more payment system customers desire to receive bonuses in virtual assets. Accordingly, companies go to meet their wishes.

Getting bonuses in cryptocurrencies is becoming more and more common. For example, a similar practice is being introduced in the sports market. For instance, on June 12, 2022, the UFC-275 tournament was held in Singapore, where 8 participants received bonuses in crypto-currencies based on the results of the audience’s vote. The payments were made by one of the cryptocurrency companies. Each of them received a cryptocurrency bonus equivalent to $50,000.

Similar proposals are being implemented in other sectors of the economy. Fiat bonus payments are becoming less popular due to rising global inflation and depreciation. In contrast, digital assets are much more resistant to it. Nevertheless, demand for crypto bonuses is likely to grow, so more and more companies will offer such offers to their customers.

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