Gemini Partners with Mastercard to Launch New Crypto Rewards Credit Card

​Fazzaco learned that Gemini, a cryptocurrency exchange and custodian, has partnered with Mastercard and WebBank, a global technology company in the payments industry and the bank issuing the credit card, to launch its its credit card that will reward users in cryptocurrencies.

According to the press release, the Gemini Credit Card offers a seamless way to consumers for acquiring bitcoin or other cryptocurrencies as a reward on their everyday purchases. Cardholders will earn up to 3% back on dining, 2% back on groceries, and 1% back on other purchases. Cardholders also have the option to transfer their crypto rewards into Gemini Earn, a new interest-earning program, to grow their holdings even further.

Additionally, the Gemini Credit Card will offer real-time crypto rewards available in all 50 U.S. States and will be accepted wherever Mastercard is accepted. The Gemini Credit Card is expected to launch this summer and those who are on the waitlist will receive first access to apply. 

Gemini CEO, Tyler Winklevoss, said: "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."

President of North America at Mastercard, Linda Kirkpatrick, said: "Consumer choice is at the center of Mastercard's strategy – giving people flexibility in how they pay and anticipating their evolving preferences. 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." 

Fazzaco earlier reported that Gemini has launched a free crypto education platform called Cryptopedia​, which aims to deal with the concern about the lack of comprehensive education around crypto, one of the main barriers to entry and adoption for consumers.