Gemini to Launch Credit Card with Crypto Rewards
Gemini, a crypto exchange and custodian, today announced that it will launch the Gemini Credit Card. The new card will give customers the option to earn cryptocurrency rewards. This effort has been accelerated by the acquisition of Blockrize, a fintech startup that has been building a credit card with cryptocurrency rewards. In preparation for launch later this year, Gemini has opened the Gemini Credit Card waitlist.
By combining Gemini’s simple, reliable, and safe platform with Blockrize’s rewards program, card holders will be able to seamlessly earn up to 3% back in bitcoin, or other cryptos, on every purchase they make with the Gemini Credit Card.
“The Gemini Credit Card will make it easier for any consumer to invest in bitcoin and other cryptos without changing their existing behavior, ” said Tyler Winklevoss, CEO of Gemini in the press release. “Rather than deciding how and when to buy crypto, customers can do so when making their everyday purchases. We’re excited to welcome the Blockrize team to Gemini and work together to continue to mainstream crypto.”
Those who join the waitlist, and the more than 10,000 people already on the Blockrize waitlist, will get early access. The Gemini Credit Card will work like a traditional credit card. It will be available to U.S. residents in every state and will be widely accepted wherever major cards are accepted. Rewards will be automatically deposited into a cardholder’s Gemini account.
For Gemini users or others interested in signing up to the waitlist, please visit: https://gemini.com/credit-card/waitlist. To sign up for a Gemini account visit: https://exchange.gemini.com/register.
This isn’t the first time a company is announcing a credit card with bitcoin rewards. BlockFi already made an announcement last year, but the card has not launched yet. It promises 1.5% back in the form of Bitcoin for all purchases. The card also has a signup bonus of $250 in the crypto-asset if you spend more than $3,000 in the first three months.