The Cryptonomist interviewed Coinbase’s Director of Product Management, Roy Zhang, to talk about Coinbase One Card with zero trading fees and more exclusive perks, but also about crypto adoption and regulation.
1. Coinbase recently unlocked access to the Coinbase One tier and card—can you walk us through what this means for both existing users and the broader crypto community?
These unlocks make it more accessible, rewarding, and transformative for anyone looking to save and earn more crypto for just $4.99/month. Our goal with Coinbase One Basic is to make it accessible for anyone to save, stack, and spend crypto.
Users can:
- Earn up to 4% bitcoin back on every purchase with Coinbase One Card. Starting this fall, the card will be available to Basic annual members at no added charge. (Approval required.)
- Get 4.5% APY rewards on their first $10,000 of USDC
- Enjoy zero trading fees on up to $500/month worth of trades on hundreds of assets every month.
- Protect up to $1,000 worth of crypto from unauthorized account access. (Not available in all regions.)
2. Zero trading fees on up to $500 per month is a strong incentive. How do you see this feature influencing user behavior, especially among casual or first-time investors?
We believe this will empower users, and introduce an entirely new cohort of traders who may have been on the fence about getting involved previously.
We want to make crypto more accessible, and we can do this by removing as many barriers as possible.
3. Boosted rewards and account protection are attractive perks. Can you elaborate on how Coinbase One enhances the user experience beyond just trading?
We believe crypto should be for everyone, so we launched the new Coinbase One Basic tier to make it more accessible than ever.
We think about our membership offering value in three areas:
- Save more: removing trading fees on Simple trade, sponsored gas on Base, etc. allow users to get more value with less friction across their interactions with crypto
- Earn more: top-of-market APY rewards on USDC holdings, boosted staking rewards, member-exclusive sweepstakes, up to 4% BTC back on card spend, and more help users build more wealth with the assets they have.
- Peace of mind: Account Protection, enhanced tax tool benefits through CB and partners, and priority support (on higher tiers) allow users to engage in crypto knowing they’re safe and covered.
The Basic tier is packed with essential value for the most affordable price we’ve offered since launching Coinbase One in 2023. It is designed to make saving and stacking crypto available to anyone, whether you’re just starting out or looking to optimize your portfolio
4. What strategic role does the Coinbase One Card play in the journey toward integrating crypto into everyday spending habits?
The Coinbase One Card is a great way to build your crypto wealth through everyday spending. Etched with the Bitcoin genesis block, it helps users bring the ethos and value of crypto into their everyday interactions with merchants. The more you spend, the more crypto you earn.
5. With traditional finance increasingly intersecting with crypto, how does Coinbase One position itself to compete or collaborate with fintech players like Revolut or Robinhood?
Crypto is in Coinbase’s core DNA. We believe that the traditional financial system can be improved (more global, always on, programmable and dynamic) by integrating and utilizing blockchain technology.
We’re able to bring the power of the blockchain to our users faster and more broadly. Some examples include:
Coinbase One users can trade with zero trading fees
Users can get crypto-backed loans directly via on-chain DeFi protocols
Coinbase One offers a host of ecosystem benefits to users engaging on-chain to earn more across some of the top protocols, allowing users to get access to the cutting edge of crypto
6. What metrics or feedback are you tracking to assess the success of the Coinbase One rollout and adoption of the card?
With the launch of Coinbase One’s Basic tier we believe that we’ve made the product truly accessible to everyone to let them give their crypto the boost it deserves. We are looking at overall adoption of the Coinbase One membership on our platform and how our benefits remove friction and provide rewards that allow users to deepen their engagement with crypto.
7. Looking ahead, what additional perks or innovations can users expect from Coinbase One—and what’s your broader vision for its role in driving crypto adoption?
Coinbase One should be the best way for consumers to engage with the crypto ecosystem. We are constantly adding new benefits (especially as Coinbase launches more features) and pushing to see how much more value we can provide across savings, earnings, and protection. With this launch and opening up access, we’re just getting started. There’s a lot more excitement to come!
8. How do you see the current macroeconomic environment influencing the adoption of cryptocurrencies and crypto-related products?
There is currently unprecedented demand for crypto and crypto-related products. We have seen this with crypto-backed loans and now with the Coinbase One card coming this fall. It is a favorable environment for the adoption of crypto and crypto-related products, and we expect to see more and more people getting involved.
Additionally, with the exciting progress in the regulatory environment, we’re seeing more players enter the crypto space, continuing to expand exposure to broader swaths of the population and expanding overall crypto demand.
9. Regulation continues to evolve across key markets. How is Coinbase adapting to ensure both compliance and innovation can coexist?
We’ve always strived to be the most trusted way to engage with crypto — and that means working closely with regulators to ensure compliance across jurisdictions. We work hard to educate regulators to help them craft smart, workable regulations that allow for innovation while providing key protections to users, and we keep user trust and safety at our core.
10. From your perspective, what are the biggest barriers—and the biggest opportunities—for mainstream crypto adoption in the next 2–3 years?
Regulatory clarity will be a massive unlock for crypto adoption in the US and abroad. This lack of clarity has historically been a major barrier for crypto proliferation, and jurisdictions around the world are increasingly recognizing the opportunity that clarity can provide: more innovation, better products, and safer customers.
There’s already been tremendous progress in the US and around the world for broad crypto adoption. We believe this newest tier of Coinbase One combined with the Coinbase One Card, saving in USDC, and a whole host of crypto native financial services sets up crypto to truly become the next generation banking solution for everyone.
