- Ripple and Gemini strengthen ties with XRP rewards card linking daily spending to crypto.
- XRP card introduces instant rewards, offering up to 4% back on essential categories.
- Strategic move expands Ripple’s stablecoin use while boosting Gemini’s mainstream adoption.
Cameron Winklevoss and the Gemini exchange have unveiled a new credit card that pays out rewards in XRP. The move is a major extension of the exchange’s growing partnership with Ripple.
The two U.S.-based companies, which recently worked together on Gemini’s IPO ambitions, are now extending their collaboration into consumer payments. The product, branded as the Gemini Crypto Card XRP Edition, marks a notable shift in how digital assets can be used in mainstream financial products.
Fresh Approach to Crypto Rewards
The product is branded as the Gemini Crypto Card XRP Edition. It’s a conventional credit card that allows users to spend dollars as usual, but instead of earning traditional points or cashback, users receive rewards in the cryptocurrency XRP.
What Are the Rewards and Fees?
The card’s main feature is its instant rewards system. Users earn XRP immediately after each purchase, eliminating the typical waiting period. The reward tiers are designed for everyday spending:
- 4% back in XRP on gas, EV charging, and rideshare services.
- 3% back in XRP on dining.
- 2% back in XRP on groceries.
- 1% back in XRP on all other purchases.
Crucially, there are no additional conversion fees for purchases made in U.S. dollars, making it a simple product for mainstream users.
Related: Deaton Predicts Gemini’s New XRP Mastercard “Will Outdo the Rest” Launching Aug 25
Ripple’s Strategic Influence
This development builds on Ripple’s earlier $75 million funding commitment to Gemini, part of a wider credit agreement that allows future loans up to $150 million. That financial support came just ahead of Gemini’s filing for an IPO with the Securities and Exchange Commission, a milestone that further elevated Ripple’s presence in the U.S. financial landscape.
Besides fueling Gemini’s expansion, Ripple is positioning its stablecoin for broader use. The coin now supports U.S. spot trading on Gemini’s exchange, a move that integrates seamlessly with the card’s ecosystem. Consequently, users gain more flexibility in managing both spending and trading.
Broader Implications for Crypto Adoption
The launch aligns with a rising global interest in crypto-linked payment cards. Visa reported over $3 billion in transactions through such products in 2024, reflecting a growing appetite for bridging traditional finance with blockchain.
Related: Winklevoss Calls Gemini 8th Anniversary a ‘Fight of Good vs Evil’
The Gemini-XRP card fits neatly into this trend, lowering barriers for consumers hesitant to buy crypto directly but curious to gain exposure through daily activity.
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