The exchange will offer up to 3% cashback in cryptocurrency for users of the upcoming Mastercard credit card.
Gemini credit card
New York cryptocurrency exchange Gemini announced on Tuesday the launch of the Gemini Credit Card, which will allow cryptocurrency holders to receive crypto spending and repayment rewards in the form of Bitcoin (BTC) or any other cryptocurrency available on the Gemini platform.
The credit card will be in the market along with Mastercard and will be issued by the online banking institution WebBank. It has been reported that over 140,000 records have already been received from customers for the credit card, which is expected to be released next summer.
It is reported that the Gemini card will offer users 3% cashback for food purchases, 2% for grocery shopping and 1% for other purchases. It is reported that the rewards will be refunded to the user in real time as soon as the transaction takes place.
Linda Kirkpatrick, head of Mastercard’s North American operations, said the financial services firm is happy to offer customers more choice by providing cryptocurrency payments and rewards.