Brad Garlinghouse, CEO of Ripple Labs, teased on Monday a credit card by cryptocurrency exchange Gemini that claims to give back up to 4% in XRP (CRYPTO: XRP) rewards.
Garlinghouse Cheers XRP Credit Card
Garlinghouse expressed his enthusiasm over the new card on X, saying, “What a time to be alive, XRP family…”
In a friendly response, Gemini CEO and co-founder Tyler Winklevoss said they will give a “whale limit” to Garlinghouse on his XRP card
See Also: XRP Down Another 3% But Traders Eye A Breakout To $3.70
What Does The XRP Card Offer?
The Mastercard Inc. (NYSE:MA)-powered card claims to give back up to 4% in XRP instantly on gas, EV charging and rideshare, 3% back on dining, 2% on groceries and 1% on all other purchases.
The card has no annual fees, no fee to receive cryptocurrency rewards and no fee on foreign transactions. As of this writing, the card is only available to U.S. users.
Gemini also announced a “Welcome Bonus,” in which one if one spends $3,000 within the first 90 days, they'll get $200 in XRP back.
Gemini also announced expanded access to the Ripple USD (CRYPTO: RLUSD) stablecoin on its U.S. platform, listing it available as a base currency for all spot trading pairs.
This was not the first time Gemini launched a card tailored to a particular cryptocurrency. Earlier this year, it launched a Bitcoin (CRYPTO: BTC) credit card, offering similar rewards and features.
Price Action: At the time of writing, XRP was exchanging hands at $2.89, down 3.92% in the last 24 hours, according to data from Benzinga Pro.
Shares of Mastercard closed 0.96% lower at $593.21 during Monday’s regular trading session.
As of this writing, the Mastercard stock ranked high on the Momentum metric, but lagged in Value. Find out similar details about the biggest fintech stocks on Wall Street by clicking Benzinga Edge Stock Rankings.
Photo Courtesy: Primakov on Shutterstock.com
Read Next:
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
