Gemini Introduces XRP Credit Card with Up to 4% Rewards

Gemini, in partnership with Ripple and Mastercard, has officially launched its limited-edition XRP Credit Card, offering U.S. customers up to 4% back in XRP on everyday purchases. The announcement, widely shared across social media, including a tweet from Cointelegraph stating, "⚡️NEW: Gemini introduced the XRP Credit Card. https://t.co/rkACjeP8SW," signifies a strategic move to integrate cryptocurrency rewards into mainstream spending. The card is issued by WebBank and operates on the Mastercard World Elite program.

The new XRP Credit Card provides tiered rewards designed to incentivize various spending habits. Cardholders can earn 4% back in XRP on gas, electric vehicle charging, and rideshare services, 3% on dining, 2% on groceries, and 1% on all other purchases. Additionally, select partner merchants offer up to 10% rewards. Rewards are credited instantly to the user's Gemini account, a feature highlighted to avoid delays common with traditional cashback programs.

This product launch aims to appeal to the loyal "XRP Army" and newcomers seeking an accessible entry into cryptocurrency rewards. New users are offered a $200 XRP bonus upon spending $3,000 within their first 90 days, with no annual fees or foreign transaction fees. Tyler Winklevoss, co-founder and CEO of Gemini, stated, "We’re giving customers and the XRP Army new ways to earn XRP and express their passion, loyalty, and excitement."

Alongside the credit card, Gemini has expanded support for Ripple's U.S. dollar stablecoin, RLUSD, which is now available for spot trading on the exchange. RLUSD has grown to a market capitalization exceeding $640 million since its debut, and its inclusion simplifies trading by reducing conversion fees. Ripple CEO Brad Garlinghouse emphasized that the initiative makes everyday spending a chance to earn and connect with both XRP and RLUSD.

The introduction of the XRP Credit Card comes as Gemini prepares for a potential initial public offering (IPO), having filed in June. The company recently reported a $282 million net loss in the first half of the year and secured a $75 million credit facility from Ripple, underscoring a deepening strategic alliance between the two crypto firms. This collaboration positions the XRP Credit Card as a key component in Gemini's efforts to expand its offerings and drive wider cryptocurrency adoption.