Gemini has announced the launch of a new credit card that will allow users to earn cashback in XRP cryptocurrency. The card's launch coincides with the company's upcoming public listing in the U.S.
XRP Cashback for Everyday Spending
The new Gemini card, issued through WebBank, will give customers cashback directly in XRP. Rewards include 4% back on gas, EV charging, and rideshares, 3% on dining, 2% on groceries, and 1% on general purchases. Gemini also revealed special merchant partnerships that will offer as much as 10% back on select transactions.
Ripple’s Stablecoin Gains Ground
The collaboration doesn’t stop with the credit card. Ripple’s U.S. dollar stablecoin, RLUSD, will now serve as a base currency for all Gemini spot trading pairs available to American users. This integration means traders can seamlessly swap between RLUSD and other assets without needing extra conversions.
Gemini’s Bigger Push Into Global Markets
The announcements arrive during a pivotal phase for Gemini. In recent weeks, the exchange secured a MiCA license in Malta to expand into the European market, while also introducing trading for tokenized U.S. stocks. Its IPO filing revealed a $75 million credit facility provided by Ripple and a $282 million net loss in the first half of the year. Despite financial headwinds, the firm is betting that partnerships like the one with Ripple will help drive adoption and strengthen its case to investors ahead of a public debut.
The launch of Gemini's credit card offering cashback in XRP highlights the growing interest in integrating cryptocurrencies into daily financial transactions. The partnership with Ripple also points to both companies' aims to expand their market presence.
