Cryptocurrency exchange Gemini has partnered with blockchain company Ripple to introduce the XRP Edition of the Gemini credit card.
This card allows users to earn rewards in the form of XRP, which is linked to the XRP ledger. It will be issued through Webbank and operated on the Mastercard network, as announced by Gemini on August 25.
The XRP edition offers cashback rewards: 4% on purchases related to gas, electric vehicle charging, and ride-sharing. For dining, you get 3% back, while groceries offer 2%. Other purchases yield 1% back, according to the announcement.
Additionally, cardholders can earn up to about 10% back when shopping with select merchant partners.
The Gemini credit card, positioned as a World Elite Mastercard, is designed to enhance the cardholder’s experience through various programs.
Tyler Winklevoss, co-founder and CEO of Gemini, noted that the introduction of this special card provides customers and XRP enthusiasts with a new way to earn XRP and show their loyalty and excitement.
Ripple’s CEO, Brad Garlinghouse, pointed out that more U.S. consumers are looking for accessible ways to use crypto in their everyday lives.
He added that this collaboration with Gemini allows users to earn and connect with XRP seamlessly, as well as utilize Ripple’s dollar-backed stablecoin.
Gemini first announced its credit card in January 2021, emphasizing that it could be used wherever major cards are accepted, providing an easy way to earn crypto rewards with daily purchases.
Winklevoss mentioned that the approach allows customers to essentially invest in crypto while shopping, rather than thinking about when to make a purchase.
In a broader context, Gemini submitted its initial public offering application on August 15 as part of the ongoing efforts to mainstream the crypto sector. Details revealed a net loss of $282.5 million and $67.9 million in revenue for the first half of the year, compared to a $41.1 million net loss and $73.5 million in revenue during the same period in 2024.
