Gemini has officially launched its highly-anticipated XRP-branded credit card, delivering a powerful new tool for the XRP community. The card offers standout perks, including up to 4% cashback paid in XRP, and arrives as the exchange secures financial backing from Ripple for its upcoming IPO plans.
Card Perks: Why the XRP Army Will Love It
The Gemini XRP card isn’t just about branding; it packs serious value for users:
- 4% Crypto Rewards: Earn up to 4% back in XRP on every purchase.
- Zero Fees:Â No annual fee, no foreign transaction fees, and no fees to convert your rewards.
- Rewards Flexibility: While designed for XRP fans, cardholders can still choose to earn rewards in Bitcoin or over 50 other cryptocurrencies and swap them anytime.
The card’s functionality mirrors other Gemini credit cards but features an “innovative design for the XRP Army” to showcase community pride.
Ripple’s Role and Support
The launch is particularly significant given the deepening ties between Gemini and Ripple. Ripple itself celebrated the launch on social media, highlighting that the card supports its RLUSD stablecoin for U.S. spot trading, providing “fast and simple access to crypto and stable value.”
This partnership is more than just promotional. Ripple is a key financial backer for Gemini’s planned IPO, having extended a $150 million credit line to the exchange. This strategic alliance suggests a shared goal of driving crypto adoption through accessible financial products.
A Strategic Move for Gemini
For Gemini, this launch is a strategic play to boost its user base and revenue streams. The exchange has faced financial challenges, reporting a $282.5 million net loss in the first half of the year. Attracting the passionate and sizable XRP community with a tailored product could be a key step toward achieving profitability.
The card has already generated significant buzz. Prominent pro-crypto lawyer John Deaton predicted even before the launch that the Gemini XRP Card would “outdo other cards” on the market.
The Bottom Line
The Gemini XRP card successfully merges loyalty with utility. By offering substantial cashback in XRP and eliminating common fees, it provides tangible value for everyday spenders in the crypto community. For Gemini, it’s a bold move to capture market share and for Ripple, it’s another step toward mainstreaming XRP and its stablecoin ecosystem.
