Gemini, a cryptocurrency platform to buy, sell, earn, and store crypto, today announced the Gemini Credit Card is now available in all 50 U.S. states. Cardholders can earn up to 3% crypto back on dining, 2% crypto back on groceries, and 1% crypto back on all other purchases, with rewards automatically deposited into their Gemini account. The Gemini Credit Card is issued by WebBank and features Mastercard as the exclusive card network.
Since launching the waitlist, the Gemini Credit Card has amassed more than 500,000 sign-ups. Cardholders will be able to use the Gemini Credit Card anywhere Mastercard is accepted and can choose from among 60+ types of cryptocurrencies currently supported for rewards on Gemini’s exchange platform, including bitcoin, ether, dogecoin and other tokens.
When a cardholder makes a purchase, Gemini automatically converts the USD value of the reward into the selected cryptocurrency and deposits it into the cardholder’s Gemini account. This process happens as soon as the transaction is approved for most merchant categories. Cardholders can change their selected crypto reward as often as they like which allows them to earn a wide variety of cryptocurrencies over the course of each month.
Additional features of the Gemini Credit Card include:
- No annual fees: The Gemini Credit Card has no annual fee and no foreign transaction fees. There are no exchange fees to receive crypto rewards.
- Instant access: After approval, customers can instantly access a digital version of their Gemini Credit Card on the Gemini mobile or web application. In addition, consumers can add the card to their mobile wallet and begin making purchases online, in-app, and at the point of sale.
- Security-first design: Sensitive information, such as the 16-digit card number, is removed from the physical card and only accessible to cardholders via the Gemini mobile or web application.
- Stainless steel: The Gemini Credit Card’s sleek, stainless steel card is made from 75% recycled material and is available in three color options including silver, rose gold, and black.
- World Mastercard Benefits: Customers can receive access to exclusive offers with select merchants such as DoorDash, HelloFresh, Lyft and ShopRunner, as well as Mastercard’s Priceless Experiences. The Gemini Credit Card will include advanced security features including Mastercard ID Theft Protection, Zero Liability and Price Protection.
- 24/7 live customer support
"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," said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. "We're honored to work hand in hand with Gemini to deliver this one-of-a-kind rewards offering and make it even easier for consumers to experience crypto."
"WebBank is thrilled to leverage its expertise in financial product innovation through its partnership with Gemini and Mastercard to launch the leading-edge Gemini Credit Card that provides consumers with an opportunity to earn real-time crypto rewards that reside on Gemini's trusted crypto platform," said Jason Lloyd, President & CEO of WebBank.
"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, 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. With the Gemini Credit Card, users also have access to a single trusted platform to buy, sell, store, and earn real interest in crypto, and we couldn't be more excited to make it widely available across the United States."