Gemini, the Winklevoss twins’ well-known cryptocurrency exchange, will soon launch a credit card in partnership with Mastercard. The companies announced this on April 27:
With this Gemini Credit Card, customers can earn crypto like bitcoin (BTC) in the form of a so-called “cashback” every time they use their credit card to pay.
This reward will immediately appear on your account, the press release says, and will be 3% on spend at restaurants, 2% on groceries and 1% on all other products. In addition to bitcoin, you can also receive the reward as ethereum (ETH) or as one of 30 other cryptos that Gemini supports.
The credit card will likely be released in the United States sometime this summer. Gemini reports that there are already 140,000 people in line who will be the first to receive their card. The crypto exchange revealed plans for such a credit card earlier this year.
“As more consumers want to enter the crypto ecosystem, the Gemini credit card provides them with easy access and an effortless way to earn crypto without changing their daily spending habits.
Mastercard continues to evolve to meet the demands of both industry and consumers, and is committed to the crypto sector. We are excited to partner with them on our first real-time crypto rewards card, further helping to make crypto mainstream. ”
Said Tyler Winklevoss, CEO of Gemini. The Winklevoss twins are mainly known for the Facebook lawsuit. The book and movie about this lawsuit will be continued with the twins called “Bitcoin Billionaires.” Mastercard announced in February that it will support crypto this year.