Gemini launches an XRP-focused credit card offering up to 4% XRP rewards and no annual, foreign, or exchange fees to attract crypto users.
Ripple backs Gemini’s IPO effort with a $150 million credit line as the firms strengthen ties in the expanding digital finance sector.
The new card supports RLUSD stablecoin for U.S. spot trading and allows seamless crypto and stable value access for users.
Gemini has introduced a new edition of its credit card designed for XRP holders. The launch was confirmed on the exchange's official website and includes a rewards program offering up to 4% cashback in XRP for every purchase. The card does not charge an annual fee and also eliminates foreign transaction and crypto exchange fees.
The new product maintains the same core functionalities as existing Gemini credit cards but adds XRP-specific benefits. Besides the financial features, Gemini has included a unique card design aimed at members of the XRP community, often referred to as the XRP Army. Cardholders may still choose to earn rewards in over 50 cryptocurrencies and can switch their preferred reward asset at any time.
Ripple Endorses Launch With RLUSD Integration
Ripple, a known backer of Gemini’s planned initial public offering, reacted positively to the launch. The company announced that its RLUSD stablecoin is now supported for spot trading in the U.S. and is compatible with the Gemini XRP card. According to Ripple, users can trade RLUSD with no conversion fees, giving them simplified access to both crypto and stable value via the card.
https://twitter.com/tyler/status/1959978101343175068
Gemini co-founder Cameron Winklevoss called on XRP supporters to leverage the card’s features. Through a post on the X platform, he emphasized the potential for users to receive 4% back in XRP on purchases, encouraging wider adoption among the altcoin’s fanbase.
IPO Filing Shows Financial Struggles as Card Launch Gains Attention
Gemini’s IPO documentation revealed a net loss of $282.5 million during the first half of the year. The exchange has also reported consecutive years without profitability. The launch of the XRP credit card appears to be a strategic effort to expand its user base and diversify revenue streams as it pursues public listing ambitions.
The card’s release has drawn attention across the crypto sector. Legal analyst and XRP supporter John Deaton previously projected the Gemini XRP card could outperform existing offerings. This heightened anticipation may aid Gemini in increasing market engagement while navigating a challenging financial period.
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