A Long-Awaited Crypto Entry

There were many things that went into making human beings the most dominant species in the world’s history, but nothing helped us more than our ability to adapt. You see, when you are able to grow comfortable with a myriad of different components, you basically end up doing a lot to widen your horizons over time, and that, in turn, can bring some notable by-products into the picture. Talk about the by-products we have had a chance of witnessing so far, each one would go on to impact our lives in its own unique manner. However, despite all the uniqueness in play here, we can’t realistically claim to have seen anything better than technology. Technology appears as such a clear-cut anomaly for reasons that go beyond its unprecedented skill-set. Notably enough, they revolve a great deal around how the creation was so successful in impacting our entire spectrum. This, in particular, was a big driving force behind our bid to become a tech-driven society. In fact, even after we get there, we’ll continue to scale up the picture, and American Express’ latest decision falls very much in line with that trend.

American Express has officially partnered with Abra, a crypto wealth management platform and wallet provider, to launch a long-awaited crypto rewards credit card. The Abra Crypto Card, which will be built on Amex network, will allow all US users to earn cryptocurrency rewards on their purchases. According to certain reports, you can choose to receive your rewards either in the form of Abra’s ERC-20 Crypto Perx (CPRX) token or as another cryptocurrency. Staying on CPRX for a second, it already boasts more than one million holders, and if we discuss its role in the Amex-Abra partnership, the users will likely be incentivized for choosing to receive their rewards in CPRX. In order to avail the service, you’ll have to register with Abra. Once that is done, the user must apply for a line of credit. Interestingly enough, Abra’s swap exchange feature should also allow you to convert your rewards into different cryptocurrencies later on, and it is expected to do so rather seamlessly.

“We’ve been modernizing the American Express networking capabilities over the last many years, and through that, we’re looking to launch innovative and leading value propositions. This announcement with Abra is the first product that we’re announcing on that platform,” said Mohammed Badi, president of Global Network Services at American Express.

The move from American Express has been on the cards for a while now. The company’s direct rivals in Mastercard and Visa have already jumped on the crypto bandwagon through strategic partnerships with various digital asset companies. Nevertheless, the new credit card does a lot to promise more crypto products from the company moving forward.