financemagnates.com
Gemini is expanding its partnership with Ripple, rolling out an XRP rewards credit card for U.S. customers and broadening the use of Ripple USD (RLUSD) as it prepares for a potential public listing.
XRP Credit Card Launch
The crypto exchange introduced a new version of its credit card that provides cashback in XRP. Issued by WebBank, the card offers 4% rewards on fuel, EV charging, and ridesharing, 3% on dining, 2% on groceries, and 1% on all other purchases.
Gemini said select merchants will provide up to 10% back on eligible transactions. “We’re giving customers and the XRP Army new ways to earn XRP and express their passion, loyalty, and excitement,” Gemini co-founder Tyler Winklevoss said.
Gemini also expanded the role of Ripple USD on its U.S. platform. The $680 million stablecoin is now available as a base currency for all spot trading pairs, allowing traders to move between assets without conversion steps.
“Fifty-five million Americans own crypto, and that number is only increasing as more people look for easier ways to access and use it in their daily lives,” Ripple CEO Brad Garlinghouse said. “With Gemini, we’re making everyday spending a chance to earn and connect with both XRP and RLUSD.”
IPO Filing
The moves come as Gemini steps up efforts ahead of a planned IPO. The exchange filed for a listing in June and has since expanded its offerings, including tokenized U.S. stock trading and regulatory approval in Malta under MiCA rules.
According to its IPO paperwork, Gemini reported a $282 million net loss in the first half of the year and secured a $75 million credit facility from Ripple.
Expect ongoing updates as this story evolves.