Gemini Unveils Mastercard Credit Card Offering XRP Cashback Rewards for U.S. Users
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has launched a new XRP rewards program linked to their Mastercard-backed credit card. This program allows U.S. residents to earn up to 4% cashback in XRP for purchases in categories such as gas and EV charging, with 3% for dining and varying rates for other expenses. New cardholders can receive up to $200 in XRP if they spend over $3,000 within the first 90 days. This initiative is part of Gemini’s strategy to increase XRP adoption and utility, encouraging its use as a digital payment solution. The move aligns with similar initiatives by other exchanges aimed at expanding cryptocurrency accessibility.
Bullish
The introduction of a cashback program using XRP by Gemini is likely to boost XRP’s adoption and utility, particularly within everyday transactions, which can lead to increased demand for the cryptocurrency. This could have a positive impact on XRP’s market price in the short-term as more users are incentivized to participate. Additionally, by aligning with a broader trend among exchanges to make cryptocurrencies more accessible, this initiative could strengthen XRP’s position as a digital payment solution in the longer-term.