Coinbase Unveils Secured Credit Card with USDC Deposit Requirement

Coinbase has introduced a secured credit card offering for users who do not qualify for its standard Coinbase One Card. The new card, called the Coinbase One Card with Security Deposit, requires a non-transferable USDC deposit as collateral and credit limit.

To be eligible, users must have an active annual Coinbase One Basic subscription and provide a USDC security deposit between $200 and $5,000. This deposit cannot be traded, withdrawn, lent, or transferred while it's being held as collateral.

The remaining funds will be returned to the user upon account closure or default. The security deposit is not FDIC-insured, and specific legal and custodial terms apply according to Coinbase’s disclosed policies.