The Winklevoss brothers’ credit card offers instant rewards paid in Bitcoin or other cryptocurrencies.
Gemini has revealed that Mastercard is going to be its “exclusive network partner” for its new crypto-back credit card — offering rewards of up to 3% in Bitcoin and other digital assets.
“As more consumers look to enter the crypto ecosystem, the Gemini credit card gives them an easy point of entry and an effortless way to earn crypto as a reward without changing their daily spending habits.”
Mastercard’s North America President, Linda Kirkpatrick, referred to this as well — saying “giving people flexibility in how they pay and anticipating their evolving preferences” is a core strategy for the payments giant. She added:
“Our work with Gemini builds upon this position, connecting consumer needs with next-generation assets and delivering a ground-breaking experience that redefines the future of card rewards and benefits.”
A New Use Case for Crypto
While a Gemini account is not required to apply, one will be necessary to receive rewards. And as part of the card’s security features, only the cardholder’s name appears on the card, with other information like the card number, expiration date and security code available through the Gemini website or app.
Gemini said it has more than 140,000 names on the waitlist for the fee-free card which will be issued by leading digital lender WebBank this summer. Normal Mastercard cardholder benefits apply.