Cryptocurrency exchange Gemini introduced a new version of its credit card featuring XRP cashback and expanded the use of Ripple USD (RLUSD) stablecoin for U.S. users.
The updated Gemini Credit Card now offers up to 4% cashback in XRP on fuel, EV charging, and taxi services, 3% on dining, 2% on groceries, and 1% on all other purchases. Besides, cardholders can earn up to 10% XRP cashback with partner merchants. The product comes with no annual fees, no charges on crypto rewards, and no foreign transaction fees.
The Gemini Credit Card runs on the Mastercard payment network and is issued by WebBank.
The launch of the XRP version is linked to the asset’s high returns. According to Gemini, cardholders who held onto their XRP rewards for at least one year increased their value by 453%, setting a record among all available currency options.
Tyler Winklevoss, Gemini Co-Founder and CEO, highlighted that the XRP card unlocks new opportunities for the crypto community, while Ripple CEO Brad Garlinghouse emphasized that such products make crypto simpler and more accessible to millions of users.
Additional perks of the new card include discounts on Peacock Premium, Instacart, ResortPass, Lyft, Booking.com, and other Mastercard World Elite benefits.
At the same time, Gemini is expanding the use of the Ripple USD (RLUSD) stablecoin, whose market cap exceeded $640 million since launch. RLUSD is now available as a base currency for all spot trading pairs in the U.S., reducing costs and simplifying digital asset exchange.
Ripple’s RLUSD stablecoin is issued under a license from the New York Department of Financial Services (NYDFS). The asset was also approved by regulators for use in the Dubai International Financial Centre (DIFC).
