Gemini has announced the launch of an XRP-focused credit card, providing users with the opportunity to earn rewards in this cryptocurrency.
Launch of the Gemini Credit Card
Gemini launched a Mastercard credit card that allows users to earn up to 4% rewards in XRP on purchases. This card is available only in the U.S. and reflects the company’s commitment to expanding the usage of XRP in everyday transactions.
Partnerships and Bonuses
The credit card was developed in partnership with Ripple, Mastercard, and WebBank. Gemini also offers a $200 bonus in XRP for users who spend $3,000 within 90 days after activating the card.
Market Impact and Future Prospects
The card’s launch comes after the recent dismissal of the SEC lawsuit against Ripple, which has spurred institutional investments in XRP. It is expected that this will increase demand for XRP and expand cryptocurrency reward programs, despite the recent decline in XRP prices.
The launch of the credit card offering XRP rewards by Gemini showcases the cryptocurrency industry's efforts to expand the utility of digital assets, which may significantly impact market dynamics.
