Gemini Exchange Launches Credit Card With 3% Cash Back Paid In Bitcoin

0
0

Gemini exchange users can now sign up for a cryptocurrency rewards credit card that allows them to earn up to 3% in Bitcoin (BTC).

The exchange and the Winklevoss-led custodian announced on Thursday that the Gemini credit card waiting list is now open. According to an announcement shared with TBEN, the new card will launch later this year.

Gemini has revealed that it has acquired Blockrize, a crypto payments startup run by product developers formerly of American Express, JPMorgan Chase, Google and BitMEX. Blockrize has a waiting list of 10,000 people and they too will benefit from early access to the Gemini credit card.

ALSO READ  CeFi and DeFi will finally meet in 2021 - let's hope they get along well

Blockrize is Gemini’s second acquisition. He bought Nifty Gateway, a non-fungible token platform, in November 2019.

Tyler Winklevoss, co-founder and influencer of Gemini crypto, said the new credit card would make it easier for customers to invest in Bitcoin “without changing their current behavior.”

“Rather than deciding how and when to buy cryptocurrency, customers can do it during their daily purchases. We are delighted to welcome the Blockrize team to Gemini and to work together to continue to integrate crypto. “

The Gemini card works like a regular credit card and will be available to US residents in all states. Crypto rewards will be automatically deposited into the user’s Gemini account.

ALSO READ  BitGo Assets Reach $ 16 Billion As Institutional Adoption Rises

As digital assets continue to pique consumer interest, crypto-focused credit cards are expected to continue to grow over the coming year. As TBEN reported last month, Visa and BlockFi have teamed up to launch a new credit card that rewards users with BTC.