Cryptocurrency exchange Gemini has announced the launch of a credit card that allows users to earn rewards in XRP, strengthening the connection between the platform and this cryptocurrency.
Launch of Gemini's XRP Rewards Card
Gemini has unveiled a new credit card created in collaboration with Ripple. With this card, users can earn XRP rewards on everyday purchases. The card offers 4% cashback on gas, EV charging, and rideshare, 3% on dining, 2% on groceries, and 1% on other purchases. Rewards can be earned in multiple cryptocurrencies, including Bitcoin and Ethereum.
Ripple Executives React
Ripple CEO Brad Garlinghouse expressed excitement about the card launch, highlighting its importance for the XRP community. Tyler Winklevoss added that Garlinghouse would receive a 'whale limit' on his card. David Schwartz, the CTO of Ripple, humorously noted that he was ready with his XRP gear for the occasion.
Reasons for Gemini's XRP Offering Expansion
Gemini noted that XRP delivered the highest performance for card users, achieving a 453% gain over the year, the highest among all cryptocurrencies used for rewards. Earned rewards of $73,700 grew to over $407,000.
The launch of the XRP rewards credit card by Gemini marks a new milestone in cryptocurrency finance and strengthens the bond between the platform and XRP users. Despite some criticism regarding the limited availability, interest in the product is evident.
