American Express Launches Travel Stamp NFTs on Base

A crypto wallet for each Amex mobile app user, custodied and operated by Amex, is spun up on the backend when users access the feature. Stamps are minted as tokens behind-the-scenes as cardholders use their Amex cards at different locations around the world. “We’re trying to do it in such a way that that’s not so in someone’s face,” Marlowe said of Amex’s approach to blockchain integrations.

But cardholders won’t see the wallet that’s spun up (that’s abstracted away), won’t be directly engaging with the blockchain at all, and won’t be able to trade stamps.  The stamps aren’t introducing cardholders to crypto, per se. They’re supposed to be a way to feel just a little bit more fulfilled about global travel in an increasingly digital age. 

Amex chose to put the stamps onchain as NFTs because blockchain assets can give a greater sense of permanence, Marlowe explained, like the ink of a physical stamp. “We really are hoping again to capture a customer at the end of their journey, when they’re commemorating and thinking about where they’ve gone, in the hopes that they get inspired again and do something new with us next time,” he said.  It’s not surprising that Amex is minting the travel stamps on Base. In June, Coinbase revealed the Coinbase One card, which uses Amex and promises 2-4% back in bitcoin rewards on every purchase made. 

As I’ve said before, both Coinbase and Amex are positioning themselves as premium brands — though that means using them comes with higher fees compared to other options on the market.  The Amex Passport feature is now available for US cardholders within the Amex mobile app, and can be accessed by going to Account > Settings > Try New Features.