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Gemini announces Mastercard as network partner for its crypto rewards credit card launch

By Pavithra R

April 28, 2021

  • Gemini
  • United States

Gemini announces Mastercard as network partner for its crypto rewards credit card launchGemini, a New York trust company that is a licensed cryptocurrency exchange and custodian, has announced entering into a partnership with Mastercard and WebBank, a leader in digital lending and the bank issuing the credit card, to launch its new cryptocurrency rewards credit card.

Gemini has collaborated with Mastercard as the exclusive card network to offer various innovative features for this upcoming offering:

  • Crypto rewards on purchases: Cardholders can earn up to 3% back on qualifying purchases in bitcoin or on cryptocurrencies available on Gemini. Crypto rewards will be deposited into the cardholders’ Gemini account automatically.
  • Real-time rewards: Gemini enables its cardholders to receive their crypto rewards in real-time i.e., as the transaction occurs for most of their purchases.
  • Security-first design: The sleek, metal card has only the cardholder’s name on it, sensitive information, like the 16-digit card number, are removed, but can be easily accessed via the Gemini web or mobile app and requires two-factor authentication.
  • Near-instant access: Upon approval, cardholders can instantly access the Gemini Credit Card and begin making purchases online, in-app, and at the point of sale by directly adding it to their mobile wallet from the Gemini mobile app.
  • World Mastercard Benefits: Cardholders can access exclusive offers with select merchants such as DoorDash, HelloFresh, Lyft and ShopRunner. The Gemini Credit Card will include advanced security features including Mastercard ID Theft Protection, Zero Liability and Price Protection, and cardholders will also have access to Priceless Experiences.
  • No annual fee
  • 24/7 live customer support

“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. Mastercard continues to evolve and meet both industry and consumer demands and commit to the crypto space. We’re excited to partner with them on our first real-time crypto rewards card, further helping to bring crypto mainstream,” said Tyler Winklevoss, CEO of Gemini.

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. The Credit Card will be available in all 50 U.S. States and will be accepted wherever Mastercard is accepted.

“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,” said Linda Kirkpatrick, president of North America at Mastercard.

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