Gemini Launches Cryptocurrency Credit Card with Mastercard

Gemini, the cryptocurrency exchange backed by the Winklevoss twins, has decided to issue a new credit card. With this credit card, users will be rewarded with the cryptocurrencies they use. Efforts are underway to launch the credit card into the market. Next summer, Gemini credit card is planned to be offered to users in partnership with WebBank and Mastercard.

Gemini had purchased Blockrize in early 2021 and announced that they will offer a cryptocurrency credit card service after this. Blockrize is a crypto money reward system and it was announced that the credit card will also have such a feature. With these developments, Gemini accelerated its plans.

According to the announcement, this reward system will be used for spending with Gemini and other cryptocurrencies backed by Bitcoin. This credit card offers the user a reward of up to 3 percent for their spending. In fact, these reward points will be credited in real-time. Cryptocurrency trading will be done quickly with this card.

In addition, Gemini will not charge an annual usage fee from these credit cardholders. According to Gemini CEO, Tyler Winklevoss, more and more users are starting to log into the system day by day. Gemini credit card provides these users with easy access to the system. In addition, they can continue to earn cryptocurrency as a reward for their transactions without having to change their daily cryptocurrency trading habits.

The Increase in Cryptocurrency Prices Changed the Demand for Credit Cards

Gemini announced that a waiting list for the credit card has been created and more than 140,000 people have registered. The change in the values ​​of crypto money has had an effect on the rate of demand for the credit card. Gemini will issue the credit card only in the United States. However, it has been announced that the card will be accepted by all vendors in the Mastercard network.

Partnership With Mastercard

Mastercard is a developing company and continues to grow. It places great emphasis on meeting both consumer demands and industry demands. For this reason, it has been growing its work also in the field of cryptocurrency over time. Gemini CEO stated that they are very honored to cooperate with Mastercard in their real-time crypto reward credit card.

SEE ALSO: Binance To Offer Tokenized Share Trading Starting With Tesla Stock

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