Gemini to launch new crypto rewards credit card

Mon 23 Aug 2021 ▪ 19h04 ▪ 3 min de lecture - par Siobhan Jones

Gemini announced the launch of a new credit card in January this year. The card’s main feature is the ability to get up to 3% cashback on purchases in cryptocurrencies. Users will also be able to choose which digital currencies they want to receive as a cashback. There will be more than 40 cryptocurrencies to choose from, including Bitcoin (BTC) and Ethereum (ETH).

CompoSecure’s participation in the new project

Gemini has announced that the new credit card will be launched in partnership with CompoSecure, a provider of financial payment cards and other storage and security solutions for assets, including digital ones.

Gemini itself is a cryptocurrency exchange and custodian. It was founded on 25th October 2015 and a year later it was announced as the first licensed Ethereum exchange based in the US. Gemini offers its customers a variety of cryptocurrency-related services, including their own stablecoin called Gemini USD (GUSD). Among these services, a unique “blockchain trading” method stands out, allowing its clients to create an additional liquidity mechanism when trading cryptocurrencies in large volumes. The company currently offers customers the ability to buy, sell or store over 40 different digital assets, including BTC, ETH and Zcash.

Availability of Gemini Credit Card in the US

In addition to a cashback in cryptocurrencies, the joint project between Gemini and CompoSecure called Gemini Credit Card will include many convenient features, such as no annual fee and instant access to the virtual card as soon as it is approved. Cryptocurrencies awarded as a cashback on purchases will be transferred to the cardholder’s Gemini account, and this will be done automatically, thus not burdening users. However, while the cashback option is exclusively for digital assets, the card itself will work like a classic card.

According to the statements from both companies working on the new credit card, the launch will happen by the end of this summer in all US states. In other words, it will be possible to get the card very soon. Gemini has also assured that the credit card will work wherever Mastercard is accepted. The card comes in three colours: black, silver and rose gold.

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Siobhan Jones

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DISCLAIMER

Les propos et opinions exprimés dans cet article n'engagent que leur auteur, et ne doivent pas être considérés comme des conseils en investissement. Effectuez vos propres recherches avant toute décision d'investissement.

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