Gemini has officially announced the launch of its XRP Edition credit card, providing users with cashback in XRP. This step highlights the increasing interest in the application of cryptocurrency in everyday transactions.
Development of the XRP Credit Card
Gemini initially hinted at an XRP-related product, generating significant interest in the cryptocurrency community. Following this, the company put up a billboard in Manhattan, emphasizing the card's release and encouraging users to prepare for August 25.
Features of the XRP Credit Card
The XRP Edition credit card allows users to earn up to 4% cashback on every purchase with no annual fee. Rewards are provided instantly, making the card's use advantageous. Different cashback categories are planned: 4% for gas and transit services, 3% for dining, and 2% for grocery purchases. All rewards are paid out in XRP.
Ripple's Role in Gemini's Plans
Gemini is also collaborating with Ripple in another capacity, obtaining a credit line from the company to support its IPO, which may involve the use of Ripple's RLUSD stablecoin. This connection indicates a closer partnership between the two companies.
The introduction of the XRP Edition credit card by Gemini emphasizes the growing interest in integrating cryptocurrencies into daily life and opens up new opportunities for XRP users.
