Crypto exchange Gemini is launching a new credit card that lets users earn rewards in Bitcoin (BTC) and other cryptocurrencies.
Gemini CEO Tyler Winklevoss says the Gemini Credit Card is like any traditional credit card. It will work wherever major cards are accepted, but give users 3% “cashback” in cryptocurrency for every dollar they spend.
The card will be available to US residents only. Cardholders will automatically receive their crypto rewards through their Gemini account.
Gemini is launching the card later this year following its acquisition of Blockrize, a San Francisco-based fintech startup that is building the first credit card that offers Bitcoin and Ethereum (ETH) rewards.
“Our effort to launch the Gemini Credit Card has been accelerated by our acquisition of Blockrize…
The Blockrize team, led by CEO and founder Thomas Harrison, will play a central role in the development and rollout of the Gemini Credit Card.”
The waitlist for early access to the card is now open.
People who previously signed up for the Blockrize card are automatically added to the Gemini Credit Card waitlist.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Kiselev Andrey Valerevich