Gemini Launches XRP Credit Card and Expands Ripple USD for U.S. Users
Gemini, co-founded by Cameron and Tyler Winklevoss, is launching an XRP edition of its credit card in partnership with Ripple. Key details include:
- The card allows users to earn up to 4% back in XRP on fuel, EV charging, and rideshare purchases.
- Users can earn 3% on dining, 2% on groceries, and 1% on other transactions.
- Partnerships with select merchants will provide up to 10% back on eligible purchases.
- Ripple's USD (RLUSD), a $680 million stablecoin, will be used as a base currency for all spot trading pairs on Gemini for U.S. users.
Tyler Winklevoss stated that the initiative aims to offer customers new ways to earn XRP. Ripple CEO Brad Garlinghouse highlighted the growing number of Americans owning crypto and the importance of integrating it into daily spending.
Gemini is expanding its offerings in preparation for an IPO, having recently started trading tokenized U.S. stocks and obtaining a MiCA license in Malta. The exchange disclosed a $75 million credit facility from Ripple and reported a net loss of $282 million in the first half of the year.