Abra has come up with a crypto credit card that uses the American Express network. It gives users the chance to earn Bitcoin as a reward for making purchases.
Mohammed Badi, American Express President of Global Network Services, said they are excited about the partnership. American Express wanted to play a role in supporting the Abra founder and CEO – Bill Barhydt – vision. Badi said it was only the next natural step to have an Abra card on the American Express network.
Barhydt had earlier shared that the Abra Crypto Card is a traditional credit card. Card members will receive a statement in US dollars and crypto-based rewards in exchange for the payments. He explained that the crypto rewards option will start with the two popular cryptocurrencies – Bitcoin and Ethereum. The company has more peaks and rewards coming later.
Badi added that they are bringing the rest of the American Express set of assets and capabilities. Users have a lot of what they expected via the American Express card. Badi pointed out that what Abra and the American Express are bringing, is truly unique. He explained that Abra’s value proposition is unique. Barhydt on his part said Abra is still evaluating which additional cryptocurrencies will be included in the program. The company is still working through a few details. It wants as many options, which need to be done in a responsible way, as possible.
American Express is renowned for the experience, reward, and access. Badi said Abra is driving innovation and what they are executing on the AMEX network is consistent with what American Express has been looking to deliver.