Why the New Gemini XRP Card Has Crypto Twitter Buzzing

• Gemini launched an XRP credit card offering up to 4% cashback rewards with no annual fees or foreign transaction charges.

• Ripple is backing Gemini’s IPO plans with up to $150 million in credit facilities and has integrated its RLUSD stablecoin into the platform.

• The card launch aims to attract new users and boost revenue as Gemini reported $282.5 million in losses during the first half of this year.

Cryptocurrency exchange Gemini has launched a special-edition XRP credit card, offering users up to 4% cashback rewards in XRP on everyday purchases. The move comes as the exchange prepares for its initial public offering, with Ripple providing significant financial backing through a credit facility agreement.

The card targets the dedicated XRP community while expanding access to Ripple’s RLUSD stablecoin for U.S. spot trading. Gemini positions this product launch as part of its strategy to bridge traditional finance with cryptocurrency adoption.

Comprehensive Rewards Structure and Zero-Fee Model

The Gemini XRP credit card offers tiered rewards across spending categories. Users earn 4% back in XRP on gas, electric vehicle charging, and rideshare purchases. Dining transactions generate 3% rewards, while grocery purchases provide 2% cashback. All other purchases earn 1% in XRP rewards.

New cardholders receive a $200 bonus in XRP after spending $3,000 within their initial 90 days. The exchange has partnered with select merchants to offer up to 10% back on qualifying purchases, maximizing potential returns for active users.

The card operates without annual fees, foreign transaction fees, or exchange fees for crypto rewards. This fee structure makes it competitive within the growing crypto credit card market. WebBank issues the card under the Mastercard World Elite program, ensuring broad merchant acceptance.

Cameron Winklevoss, Gemini’s co-founder, promoted the launch on social media, encouraging XRP supporters to utilize the card’s benefits. The exchange designed the card with XRP-focused branding to appeal to the cryptocurrency’s loyal community base.

Strategic Partnership Supports IPO Ambitions

Through a substantial credit agreement, Ripple has emerged as a key supporter of Gemini’s public offering plans. The partnership includes a $75 million credit line that can expand to $150 million, demonstrating significant financial commitment between the companies.

The collaboration extends beyond funding to product integration. Ripple’s RLUSD stablecoin now serves as a base currency for all spot trading pairs on Gemini’s platform for U.S. users. This integration eliminates conversion fees when trading between RLUSD and other digital assets.

Ripple CEO Brad Garlinghouse emphasized the partnership’s goal of making cryptocurrency accessible to mainstream consumers. The RLUSD stablecoin has achieved over $640 million in market capitalization, ranking among the top six dollar-pegged tokens.

Gemini’s IPO filing reveals financial challenges, including a $282.5 million net loss in the year’s first half and continued operating losses over the past two years. The XRP card launch represents part of the exchange’s broader strategy to attract new users and diversify revenue streams ahead of its public debut.

The exchange has expanded its offerings recently, including tokenized stock trading and obtaining regulatory licenses in Malta under the Markets in Crypto-Assets framework. These initiatives aim to strengthen Gemini’s market position while demonstrating growth potential to prospective investors.