Gemini, the cryptocurrency exchange and custodian founded by the Winklevoss brothers, has partnered with Mastercard to launch a crypto rewards credit card this summer.
- The Tuesday announcement reveals further details about Gemini’s upcoming credit card, which was first announced in January.
- This is not the first credit card to make crypto rewards available for crypto cardholders. Back in December, cryptocurrency lender BlockFi announced the launch of its rewards credit card in the first quarter of this year, calling it the first of its kind in an industry that is already saturated with bitcoin reward debit cards.
- BlockFi promised users for every transaction made with its card 1.5% cash back will accrue and then automatically be converted to bitcoin and placed into the user's BlockFi account.
- Gemini cardholders will be given the option to transfer their crypto rewards into interest-earning program Gemini Earn, said the firm.
- The card will be made available to American investors across all 50 states later this year.