One of the largest banks in the U.S., American Express will release its first crypto product, namely a card with a cryptocurrency cashback.
The bank has partnered with cryptocurrency company Abra to do so.
The cryptocard will allow the bank’s clients to receive rewards in cryptocurrency for any purchase.
According to the company, the card will be serviced without any annual fees or international transaction fees.
“We are very excited to combine the power of our payment network with Abra’s innovation and expertise in cryptocurrency. This is a credit card for crypto-researchers and enthusiasts alike,” said Mohammed Badi, president of Global Network Services at American Express.
The card is scheduled for release in 2022.