The crypto-friendly Gemini credit card will be serviced exclusively by Mastercard. The card will be the first of its kind to provide rewards in cryptocurrencies.
“Today we announce our partnership with Gemini to deliver a first-of-the-kind cryptocurrency rewards credit card. The Gemini credit card gives consumers an easy way to earn cryptocurrencies as a reward without changing their daily spending habits”.
As announced in January, the Gemini credit card will allow its users to earn up to 3% refund on bitcoin and even more than 30 other cryptocurrencies, which will be deposited directly into their Gemini accounts. WebBank digital lending service will act as the issuer of the card.
According to Gemini, this system is “the first of its kind” because it allows the delivery of cryptocurrency rewards in real time and will have no annual charges. Once approved, cardholders will be able to use the Gemini Credit Card immediately to shop online or at points of sale by adding it to their digital mobile wallet.
Tyler Winklevoss, CEO of Gemini said:
“As more consumers want to enter the cryptocurrency ecosystem, the Gemini credit card gives them an easy entry point and an easy way to get cryptocurrencies as a reward, without changing their daily spending habits.”
According to the announcement, the Gemini credit card will be released next summer in all 50 US states at the same time, with the users from the waiting list being the first to have access to the new service.”
Linda Kirkpatrick, North America President at Mastercard, said:
“Consumer choice is at the heart of Mastercard ‘s strategy – giving people flexibility in how to pay and anticipate their evolving preferences. Our work with Gemini is based on this position, connecting consumer needs with next-generation assets and offering a ground breaking experience that redefines the future of card rewards and benefits. “