Gemini acquires Blockrize and launches Gemini Credit Card

By Pavithra R

Gemini Trust Company, a next-generation cryptocurrency exchange and custodian, has announced the launch of a credit card with cryptocurrency rewards. 

In preparation for launch later this year, the firm has opened the waitlist, for providing early access for its customers, and those already on the Blockrize waitlist. The firm has also announced the acquisition of Blockrize, a San Francisco-based FinTech startup building a credit card with cryptocurrency rewards. The acquisition combines Gemini’s simple, reliable, and safe platform with Blockrize’s rewards program, enabling cardholders to seamlessly earn up to 3% back in bitcoin, or other cryptos, on every purchase they make with the Gemini Credit Card.

“The Gemini Credit Card will make it easier for any consumer to invest in bitcoin and other cryptos without changing their existing behavior. Rather than deciding how and when to buy crypto, customers can do so when making their everyday purchases. We’re excited to welcome the Blockrize team to Gemini and work together to continue to mainstream crypto,” said Tyler Winklevoss, CEO of Gemini. 

The new Credit Card will work like a traditional credit card and will be available to U.S. residents in every state and will be accepted wherever major cards are accepted. Rewards will be automatically deposited into the cardholder’s Gemini account.

Founded in 2015, by Cameron and Tyler Winklevoss, Gemini is a next-generation cryptocurrency exchange and custodian that allows customers to buy, sell, and store more than 30 cryptocurrencies including bitcoin, bitcoin cash, litecoin, ether, and Zcash. It is a New York trust company that is held to the highest level of fiduciary obligations, capital reserve requirements, and banking compliance standards.