The competition among encryption exchange payment products is fierce, with multiple platforms launching innovative services.

Recently, stablecoins and payments have become hot topics in the encryption field, with major centralized exchanges actively entering the daily consumption payment sector. Various platforms are increasingly competing to build ecosystems around encryption credit cards, debit cards, and payment applications, striving to create channels that connect encryption assets with the real world.

Most encryption payment cards support major markets such as the European Economic Area and the United States, offering cashback benefits ranging from 2% to 10%. This article will introduce several well-known exchanges' latest launched encryption payment cards or payment applications.

Coinbase Launches Coinbase One Card

A well-known exchange has announced the launch of the Coinbase One Card, which is available to monthly subscription members of the platform. This is the platform's first crypto credit card, supported by a well-known credit card network, and is scheduled to be launched in the fall of 2025.

Cardholders can receive 2% to 4% Bitcoin cashback and enjoy experiences, protections, and other benefits provided by the related network. This subscription service charges $29.99 per month, while the basic level with lower cashback charges $4.99 per month or $49.99 per year.

Gemini Card offers flexible consumption rebates

A certain exchange has launched a no-annual-fee credit card that supports over 50 types of cryptocurrency as cashback. The card offers different categories of spending cashback:

• 4% cashback on the first $300 of monthly fuel and electric vehicle charging, 1% cashback on the amount exceeding this.
• 3% cashback on dining expenses
• Grocery consumption rebate 2%
• Other eligible consumption rebate 1%

Users can change the type of encryption earned through consumption at any time. The card does not charge an annual fee or foreign exchange fee, but relevant transaction fees still apply when selling or converting encryption rewards.

Crypto.com Launches Tiered Cashback Credit Card

A certain platform has launched an encryption credit card for the US market. This card offers varying percentages of cryptocurrency cashback based on user levels, with a maximum of 6.5%. The cashback percentage will be slightly adjusted downward over time.

Kraken launches payment application "Krak"

A certain exchange has launched an integrated global currency application called "Krak", which allows users to manage over 300 different fiat and digital assets through the app. The main features include:

• Peer-to-peer payment: Supports instant remittance to other users in 110 countries/regions.
• Exclusive consumption and earnings account: offers up to 4.1% stablecoin balance rewards
• Future plans to launch physical and virtual cards that support online and offline merchant consumption.

Other exchange payment products

• A certain platform has launched a MasterCard encryption debit card, offering 2% to 10% cashback.
• A certain exchange has launched a debit card and credit card that supports multiple currencies.
• A certain platform has launched an encryption debit card supporting users in the European Economic Area.
• A certain exchange has launched a crypto credit/debit card supporting European users.
• A certain platform has launched an encryption debit card designed specifically for users in the European Economic Area.

Overall, the payment sector is becoming a new battleground for cryptocurrency exchanges. From credit cards and debit cards to integrated payment applications and DeFi services, major platforms are striving to create a "transaction is life" consumption loop. Collaborating with traditional financial institutions remains the main path, but some platforms are also attempting to build independent wallets and stablecoin ecosystems. In the second half of 2025, the global competition in cryptocurrency payments is expected to enter an accelerated phase.