First credit card to provide real-time crypto rewards, up to 3% in crypto on purchases, according to Mastercard. Although, the card is not yet on the market.
Gemini, a cryptocurrency platform, today announced details of its first-of-a-kind cryptocurrency rewards credit card, including a partnership with Mastercard and WebBank, a leader in digital lending and the bank issuing the credit card.
Since it was first introduced in early 2021, the Gemini Credit Card has amassed more than 140,000 people on its waitlist.
Cardholders will earn up to 3% back on qualifying purchases in bitcoin or any of the more than 30 cryptocurrencies available on Gemini. Crypto rewards will automatically be deposited into the cardholders’ Gemini account.
Gemini is building a first-of-a-kind crypto rewards platform to deliver crypto rewards in real-time. Unlike most cards, which pay rewards out monthly, Gemini cardholders will receive their crypto rewards as the transaction occurs for most of their purchases. This gives cardholders full control over their rewards and allows them to benefit from any appreciation in the price of their rewards from the moment the transaction occurs.
Only the cardholder’s name appears on the card, removing other sensitive information, like the 16-digit card number, which can be easily accessed via the Gemini web or mobile app and requires two-factor authentication.
Upon approval, cardholders can instantly access the Gemini Credit Card and begin making purchases online, in-app, and at the point of sale by directly adding it to their mobile wallet from the Gemini mobile app. Cardholders can also manage their payment credentials digitally, including access to transaction history and balance information, alerts, and access to card benefits.
“As more consumers look to enter the crypto ecosystem, the Gemini Credit Card gives them an easy point of entry and an effortless way to earn crypto as a reward without changing their daily spending habits,” said Tyler Winklevoss, CEO of Gemini. “Mastercard continues to evolve and meet both industry and consumer demands and commit to the crypto space. We’re excited to partner with them on our first real-time crypto rewards card, further helping to bring crypto mainstream.”
The Gemini Credit Card provides a seamless way for consumers to acquire bitcoin or other cryptocurrencies as a reward on their everyday purchases. Cardholders will earn up to 3% back on dining, 2% back on groceries, and 1% back on other purchases. Cardholders also have the option to transfer their crypto rewards into Gemini Earn, a new interest-earning program, to grow their holdings even further.
“Consumer choice is at the center of Mastercard’s strategy – giving people flexibility in how they pay and anticipating their evolving preferences,” said Linda Kirkpatrick, president of North America at Mastercard. “Our work with Gemini builds upon this position, connecting consumer needs with next-generation assets and delivering a ground-breaking experience that redefines the future of card rewards and benefits.”
The Gemini Credit Card will offer real-time crypto rewards available in all 50 U.S. States and will be accepted wherever Mastercard is accepted. The Gemini Credit Card is expected to launch this summer and those who are on the waitlist will receive first access to apply.
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Nearly two-thirds of adults in the United States are interested in learning more about cryptocurrencies like Bitcoin (BTC) or holding them soon, according to a new survey.
Gemini, a crypto trading platform owned by Tyler and Cameron Winklevoss, released a new State of U.S. Crypto Report, providing insights about consumer trends in the crypto market in the U.S. The data was collected from a national survey of 3,000 U.S. adults aged 18 to 65 with $40,000 or more in household income.
Based on survey findings, Gemini estimates that nearly 14% of the U.S. population — or 21.2 million adults — now owns cryptocurrency. Crypto investors are potentially set to double this year as roughly 13% of respondents indicated plans to purchase crypto in 2021.
“This adds up to approximately 19.3 million adults — which would nearly double the current crypto investor population,” the report notes.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
