Coinbase-Backed Plutus Launches PLUS More on Base: Revolutionizing Tokenized Loyalty Rewards

Plutus, a trailblazer in on-chain integrated finance, has unveiled its latest innovation, PLUS More, designed to enhance savings for PLU token holders using the Plutus Card. This development marks another milestone in Plutus’ journey, which began in 2015 with the tokenization of real-world assets (RWA) through its Pluton (PLU) loyalty rewards. Over the past decade, PLU has facilitated $58 million in in-app savings, showcasing its significant impact on the crypto-finance landscape. The new feature is hosted on Base, Ethereum’s LAYER 2 solution incubated by Coinbase, further solidifying the synergy between traditional finance and decentralized technologies.

Plutus Launches PLUS More on Base: A New Era of Tokenised Loyalty Rewards

Plutus, a pioneer in on-chain integrated finance, has launched PLUS More—a new feature for PLU stackers to maximize savings with the Plutus Card. The initiative builds on Plutus’ legacy as the first to tokenize real-world assets (RWA) through on-chain loyalty rewards with Pluton (PLU) in 2015. Over the past decade, PLU has delivered $58M in in-app savings.

Hosted on Base, Ethereum’s Layer 2 incubated by Coinbase, PLUS More marks a shift in loyalty rewards by bringing them into decentralized finance. The MOVE empowers consumers by transferring control from corporations to users, all while operating on-chain.

Coinbase Joins S&P 500 as First Crypto-Focused Company

Coinbase is set to make history as the first cryptocurrency exchange to join the S&P 500, replacing Discover Financial Services in the benchmark index. The inclusion, effective May 19, marks a significant milestone for the crypto industry and solidifies Coinbase’s position among large-cap equities.

The achievement follows stringent financial requirements, including positive earnings in the most recent quarter and the preceding four quarters. This comes despite Coinbase’s volatile performance, which has mirrored crypto market fluctuations—from $7.4 billion revenue in 2021 to a $1.1 billion loss in Q2 2022.

Coinbase’s S&P 500 Entry Marks Pivotal Moment for Crypto Institutionalization

Coinbase Global Inc. will make history on May 19 as the first cryptocurrency company to join the S&P 500 index, replacing Discover Financial Services following its acquisition by Capital One. This milestone signals accelerating institutional acceptance of digital asset firms within traditional finance frameworks.

The inclusion mandates index-tracking funds to add COIN shares to their portfolios, likely creating sustained demand despite the stock’s initially modest weighting. Market observers view this development as a bellwether for broader crypto adoption, with potential spillover effects across Bitcoin, Ethereum, and other major digital assets.

Coinbase’s ascension to the premier US equity benchmark reflects growing recognition of cryptocurrency infrastructure providers as legitimate financial institutions. The move coincides with mounting institutional interest in spot Bitcoin ETFs and other regulated crypto investment vehicles.

Coinbase Invests in Canadian Stablecoin QCAD to Promote Borderless Payments

Coinbase Canada has partnered with Stablecorp to support the marketing of QCAD, a fiat-collateralized stablecoin pegged to the Canadian dollar. The collaboration, announced at the Blockchain Futurist Conference in Toronto, includes an undisclosed investment aimed at expanding access to tokenized Canadian dollars.

Lucas Matheson, CEO of Coinbase Canada, emphasized the strategic importance of cryptocurrencies and called for a national digital assets strategy. The appeal comes after Canada’s April elections, which saw the victory of Prime Minister Mark Carney, a known skeptic of digital currencies.

Matheson stressed the need for a stablecoin tailored to the Canadian market, positioning QCAD as a key player in the evolving landscape of borderless payments.

Coinbase Joins S&P 500, Signaling Crypto’s Mainstream Breakthrough

Coinbase Global Inc. surged 15% following its inclusion in the S&P 500 index, replacing Discover Financial Services amid Capital One’s acquisition. The milestone, effective before the next market open, marks a watershed moment for cryptocurrency’s integration into traditional finance.

Oppenheimer analysts hailed the development as a potential catalyst for further crypto IPOs, upgrading Coinbase’s price target on expectations of sustained institutional demand. The stock reached a 52-week high, adding billions to its market capitalization as index-tracking funds adjust portfolios.

Political tailwinds amplify the momentum, with former President Trump’s pro-crypto stance coinciding with growing Wall Street interest. The listing validates digital asset markets’ maturation, mirroring Bitcoin’s recent ETF approvals and Ethereum’s regulatory progress.