Earlier today, the Gemini cryptocurrency platform announced a partnership with Mastercard and WebBank to launch a first-of-its-kind crypto rewards credit card.
A waitlist of 140,000 Gemini customers have signed up to use the credit since the list was incorporated earlier this year. Gemini will use the extensive Mastercard network and will offer many new features with the card.
- Crypto cashback on purchases: up to 3% back on Bitcoin or one of the other 30 or so cryptocurrencies available on the Gemini platform. Only available on qualifying purchases.
- Real-time rewards: receive your rewards there and then. No need to wait for the end of the month as is the case with other cards.
- No annual fee: also full, 24/7 live customer support.
- Security card design: card is contactless and only features the customer’s name without any card number or other details.
- Instant access: once approved, customers can start using the Gemini credit card for purchases straight away.
- World Mastercard benefits: All exclusive offers available through Mastercard will also be offered to Gemini customers.
"As more consumers look to enter the crypto ecosystem, the Gemini Credit Card gives them an easy point of entry and an effortless way to earn crypto as a reward without changing their daily spending habits," said Tyler Winklevoss, CEO of Gemini. "Mastercard continues to evolve and meet both industry and consumer demands and commit to the crypto space. We're excited to partner with them on our first real-time crypto rewards card, further helping to bring crypto mainstream."
Users of the new credit card will be able to passively acquire bitcoin as they make their purchases. They can earn 3% back on dining, 2% back on groceries, and 1% back on other purchases.
"Consumer choice is at the center of Mastercard's strategy – giving people flexibility in how they pay and anticipating their evolving preferences," said Linda Kirkpatrick, president of North America at Mastercard. "Our work with Gemini builds upon this position, connecting consumer needs with next-generation assets and delivering a ground-breaking experience that redefines the future of card rewards and benefits."
The Gemini credit card is only available to customers in the US currently and the card launch date is set for this summer.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.