Gemini announces XRP cashback rewards for credit card users

In a key milestone for the crypto payment industry, Gemini announced a credit card allowing users to receive XRP rewards on each purchase.

The initiative places Gemini among the few cryptocurrency firms offering XRP cashback incentives, underscoring the increasing adoption of crypto in day-to-day financial undertakings.

The Gemini credit card

Gemini launched its gift credit card a year after its 2021 collaboration with MasterCard.

Gemini cardholders enjoy crypto rewards with each swipe.

It supports over 50 cryptocurrencies, and the latest addition reflects XRP’s soaring popularity in the global financial landscape.

With the new functionality, card users will earn up to 4% XRP rewards on qualified purchases.

Enthusiasts can earn cryptocurrencies while completing daily transactions, whether buying groceries, online shopping, or paying for gas.

Notably, Gemini recognized XRP for its cashback initiative when it listed the token in August 2023.

XRP is a top digital currency recognized for its cheaper fees and high transaction speed.

The token’s energy-efficient consensus model makes Ripple’s coin suitable for cross-border and remittance payments.

Gemini will cater to the existing Ripple community and attract new participants with XRP incentives.

Rewards category

Users will qualify for different rewards based on their credit card usage.

Individuals will receive a 4% XRP refund for gas at a pump or using an EV charging station.

Also, the exchange offers 3% XRP back on dining expenditures, 2% on groceries, and 1% on everything else.”

Source – Gemini

How to claim

Eligible participants can apply for Gemini’s credit card.

Upon approval, potentially by June 30, new cash users will receive up to $200 XRP cashback when they spend over $3,000 within the first three months.

Gemini will deposit the XRP assets into user accounts, allowing them to hold, trade, or sell their assets without restrictions.

Gemini card doesn’t include annual charges, making it perfect for individuals interested in growing their crypto portfolios without extra fees.

The emerging trend of crypto incentives

Gemini’s move underscored the prevailing trend of financial giants merging traditional services with crypto rewards.

While digital assets go mainstream, most people are looking for ways to earn crypto passively, and that’s where cryptocurrency cashbacks come in.

Various exchanges, including Bit2Me, WhiteBIT, and Uphold, have introduced similar programs for XRP.

Coinbase and BlockFi have tested crypto reward models with BTC and ETH incentives.

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