Cryptocurrency exchange platform Gemini, in partnership with Mastercard and WebBank, will be launching a new cryptocurrency rewards credit card in Summer. Since its first introduction in early 2021, over 140,000 people have signed up for the waitlist.
The exclusive card network is expected to offer a range of innovative features for the upcoming offering:
- Crypto rewards upon making purchases: Cardholders will earn up to 3% back on dining, 2% back on groceries, and 1% back on miscellaneous purchases in Bitcoin or any of the cryptocurrencies available on Gemini. Cardholders can opt to have the rewards be automatically deposited into their Gemini account, or be transferred into Gemini Earn, an interest-earning program, to grow their holdings even more..
- Real-time rewards: The crypto rewards will be delivered in real-time. For most of the purchases, Gemini cardholders can receive their crypto rewards as the transaction occurs; they are not required to wait for the rewards to be paid out monthly like most cards.
- Zero annual fee: There is no annual fee to be paid; Cardholders can receive the full value of their rewards.
- Security conscious design: The sleek metallic card is contactless and is designed in a way to prioritize security. Sensitive information like the 16-digit card number can only be accessed through the Gemini web and mobile app and required two-factor authentication.
- Near-immediate access: Once approved, cardholders can immediately access the Gemini Credit Card and start making purchases, in-app, and at the point of sale by adding it to their mobile wallet via the app. The payment credentials can also be managed digitally, including transaction history and balance information, alerts, and access to card benefits.
- World Mastercard® Benefits: Cardholders have access to exclusive offers with certain merchants like DoorDash, HelloFresh, Lyft and ShopRunner. The Gemini Credit Card is also equipped with security features such as Mastercard ID Theft Protection™, Zero Liability and Price Protection. The cardholders can also access Priceless® Experiences, which offers activities both digitally and in the cities that they are currently in.
(Gemini Credit Card)
“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.”
“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’s 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’s real-time crypto rewards will be available in all 50 states in the US, and will be accepted wherever Mastercard is accepted. It is set to launch this summer and those on the waitlist are given first priority.
