What happened?
Gemini has launched a special-edition XRP credit card in collaboration with Ripple, offering U.S. customers up to 4% back in XRP rewards on everyday spending. Issued under the Mastercard World Elite program, it comes with no annual fees and offers a $200 bonus for new users who meet spending requirements. The card enhances XRP’s role in payments while providing greater access to Ripple’s RLUSD stablecoin for U.S. trading.
Who does this affect?
This new credit card affects U.S. residents who are eligible to receive it, especially those interested in earning cryptocurrency rewards. It targets both the existing “XRP Army” of enthusiasts and potential new users looking for a straightforward entry into digital assets. Additionally, it impacts merchants partnering with Gemini to offer higher cashback rewards on qualifying purchases.
Why does this matter?
The launch of the XRP credit card could significantly impact the crypto market by increasing XRP’s adoption and usage in everyday transactions. By rewarding purchases with XRP and RLUSD, it positions these digital currencies as practical options for mainstream financial activities. This move may encourage similar offerings in the market, fostering greater integration between traditional finance and cryptocurrencies.