CompoSecure Partners on innovative crypto reward payment card
By Edlyn Cardoza
CompoSecure Holdings, L.L.C. a provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, today announced that it will manufacture a new crypto rewards credit card for Gemini. Gemini is a crypto platform, working with Mastercard and WebBank, the issuer and lender, on this innovative rewards credit card that will allow cardholders to earn up to 3% back on purchases in bitcoin or the more than 40 cryptocurrencies available on Gemini.
The Gemini crypto rewards credit card demonstrates how the blockchain and cryptocurrency market category is being supported by banks with innovative financial products. “This is an important moment for CompoSecure and the industry concerning the intersection between payments and cryptocurrency,” said Jon Wilk, President and CEO of CompoSecure, which recently announced it had signed a merger agreement with Roman DBDR Tech Acquisition Corp., a special purpose acquisition company. “Gemini’s strong value proposition combined with our premium payment cards can quickly deliver an innovative approach toward rewards that will drive the cryptocurrency market forward.”
The Gemini Credit Card offering includes a metal credit card with features such as crypto rewards on purchases, instant rewards, no annual fee, a security-first design and instant access to a virtual card after approval. Crypto rewards will automatically be deposited into the cardholder’s Gemini account.
The Gemini Credit Card is expected to launch in all 50 U.S. states this summer and can be used wherever Mastercard is accepted. Consumers will have the choice of black, silver or rose gold. Currently, more than 300,000 customers have signed up on Gemini’s waitlist.
The Gemini cards utilize CompoSecure’s metal dual-interface construction that enables contactless purchases. To speed up production and reduce time to market, Gemini selected CompoSecure for its innovative technology, creative design, and manufacturing capabilities.
IBS Intelligence recently, reported that CompoSecure had announced partnership with Thales Group, it’s manufacturing the first-of-its-kind card from Visa and Crypto.com, a fastest-growing crypto app.