Crypto trading platform, Gemini confirmed the availability of its crypto rewards credit card in the US yesterday. According to the exchange, users will be able to earn crypto rewards on purchases.
Dubbed ‘Gemini Credit Card’, the product has been issued by WeBank and features Mastercard, the US-based financial services provider, as the exclusive card network. Gemini noted that its crypto rewards credit card received more than 500,000 sign-ups since the launch of its waitlist.
"Last year, the crypto industry had its breakout moment with 44% of crypto owners in the U.S. reported first buying crypto in the last year. Gemini is committed to helping drive more education and offer innovations that remove barriers of entry for consumers who want access to crypto such as bitcoin," said Pravjit Tiwana, the Chief Technology Officer (CTO) of Gemini. "In partnership with Mastercard and WebBank, we developed the Gemini Credit Card to offer a simplified way to invest in crypto without asking consumers to change their daily behavior."
Gemini is one of the most valuable digital exchanges in the world. In November last year, the crypto trading platform raised $400 million in growth equity funding and reached a valuation of more than $7 billion.
Crypto Rewards
Sherri Haymond, the Executive Vice President of Digital Partnerships at Mastercard, said that the latest partnership with Gemini will provide an efficient crypto reward experience to the users. Furthermore, Haymond highlighted the growing global popularity of the cryptocurrency ecosystem.
"Mastercard and Gemini share in the belief that providing relevant and innovative crypto rewards experiences will not only empower consumers but also unlock access to the digital currencies ecosystem. We're honored to work hand in hand with Gemini to deliver these one-of-a-kind rewards offering and make it even easier for consumers to experience crypto,” Haymond added in the press release.
