Cryptocurrency exchange Gemini has announced the launch of a new credit card developed in partnership with Ripple and WebBank. This card enables U.S. users to earn XRP on their everyday spending.
Card Benefits
The credit card offers the following benefits:
* **4% back in XRP** on purchases such as fuel, EV charging, rideshare, and transit. * **3% back on dining**. * **2% back on groceries**. * **1% back on all other purchases**. * **Up to 10% back** at select merchants through rotating offers.
Management Insights
Gemini's CEO described the card as a way to let customers and the 'XRP Army' express their loyalty and enthusiasm through everyday purchases. Ripple’s CEO echoed this, stating that the card simplifies access to digital assets and connects daily spending to both XRP and Ripple USD (RLUSD).
RLUSD Expansion
In tandem with the card launch, Gemini is expanding the role of RLUSD, a U.S. dollar-backed stablecoin currently valued at around $680 million in market cap. It is now available as a **base currency for all U.S. spot trading pairs** on the platform, which removes the need for additional conversion steps and streamlines trades between assets.
The launch of the credit card and RLUSD integration highlight Gemini's strategy to embed cryptocurrency into everyday financial experiences while expanding its offerings in the market.
