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Cryptocurrency exchange Gemini has launched an updated version of its credit card that includes XRP cashback and has broadened the application of the Ripple USD (RLUSD) stablecoin for users in the U.S.
The revamped Gemini Credit Card provides up to 4% cashback in XRP for fuel, EV charging, and taxi services, 3% for dining, 2% for groceries, and 1% for all other transactions. Additionally, cardholders can receive up to 10% XRP cashback when shopping with partner merchants. This card has no annual fees, no costs associated with crypto rewards, and no foreign transaction fees.
The Gemini Credit Card operates on the Mastercard payment network and is issued by WebBank.
The introduction of the XRP version is associated with the asset’s significant returns. As per Gemini, cardholders who retained their XRP rewards for a minimum of one year saw their value rise by 453%, marking a record among all currency options available.
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Tyler Winklevoss, Co-Founder and CEO of Gemini, noted that the XRP card creates new possibilities for the crypto community, while Ripple CEO Brad Garlinghouse pointed out that such offerings simplify and enhance accessibility to crypto for millions of users.
Additional benefits of the new card include discounts on services like Peacock Premium, Instacart, ResortPass, Lyft, Booking.com, along with other Mastercard World Elite advantages.
Concurrently, Gemini is enhancing the use of the Ripple USD (RLUSD) stablecoin, which has surpassed a market cap of $640 million since its inception. RLUSD is now utilized as a base currency for all spot trading pairs in the U.S., lowering costs and streamlining the exchange of digital assets.
Ripple’s RLUSD stablecoin is issued under a license from the New York Department of Financial Services (NYDFS). The asset has also received regulatory approval for use in the Dubai International Financial Centre (DIFC).
Сообщение Gemini Adds XRP Cashback for Crypto Card Users появились сначала на CoinsPaid Media.
