Gemini, the crypto exchange and custodian, has announced that it will launch the Gemini Credit Card, a credit card with cryptocurrency rewards. This effort has been accelerated by the acquisition of Blockrize, a fintech startup that has been building a credit card with cryptocurrency rewards.
In preparation for launch later this year, Gemini has opened the Gemini Credit Card waitlist — providing Gemini customers, and those already on the Blockrize waitlist, with early access. By combining Gemini's simple, reliable, and safe platform with Blockrize's rewards program, card holders will be able to seamlessly earn up to 3 percent back in bitcoin, or other cryptos, on every purchase they make with the Gemini Card.
"The Gemini Credit Card will make it easier for any consumer to invest in bitcoin and other cryptos without changing their existing behavior," said Tyler Winklevoss, CEO of Gemini. "Rather than deciding how and when to buy crypto, customers can do so when making their everyday purchases. We're excited to welcome the Blockrize team to Gemini and work together to continue to mainstream crypto."
Those who join the waitlist, and the more than 10,000 people already on the Blockrize waitlist, will get early access. The Gemini Credit Card will work like a traditional credit card. It will be available to U.S. residents in every state and will be widely accepted wherever major cards are accepted. Rewards will be automatically deposited into a cardholder's account.
For Gemini users or others interested in signing up to the waitlist, please visit: www.gemini.com/credit-card/waitlist
To sign up please visit: www.exchange.gemini.com/register
This is Gemini's second acquisition, following its acquisition of Nifty Gateway in November of 2019. Gemini continues to look for companies that align with its values and mission to empower the individual through crypto.
Gemini has also announced the launch of its new interest-earning program Gemini EarnTM. Gemini Earn enables customers to earn up to 7.4% APY — more than 100 times the national U.S. average — on cryptocurrencies. Crypto investors can now buy, sell, store, and earn real interest on cryptocurrencies all through the simple, reliable, and secure Gemini platform. This will be the only crypto interest-earning product available in all 50 states and currently offers one of the highest yields of competitive crypto interest offerings and the most flexible redemption policies.
"Today's investors know that a smart, diverse portfolio includes crypto — it's an investment in their future selves," said Tyler Winklevoss, CEO of Gemini. "We designed a program that allows our customers the ability to generate a real return on their crypto holdings without having to sell one of the best performing asset classes of the decade."
Customers can transfer existing crypto holdings, or easily purchase crypto to transfer into Gemini Earn and earn interest for any period of time. They can also redeem their crypto at any time. As a New York-based Trust company with security protocols on par with those offered by top financial institutions, Gemini's secure custody and exchange solutions also integrate seamlessly with Gemini Earn. The launch of Gemini Earn follows recent news that Gemini customers will soon be able to earn cryptocurrency rewards on their everyday purchases with the new Gemini Credit Card, which provides exposure to crypto without changing consumers' daily behavior. With these two new opportunities for customers to earn, Gemini furthers its mission to make crypto mainstream, providing the bridge from traditional financial products like interest opportunities and credit cards, to the world of cryptocurrency.
"With interest in cryptocurrency at an all time high, we're seeing demand from both crypto and crypto-curious customers for more ways to capitalize on this boom," said Noah Perlman, Chief Operating Officer at Gemini. "Gemini allows our customers the ability to invest for the long term while also easily putting their money to work and reward themselves today with high-yield products like Gemini Earn."
Gemini is a crypto exchange and custodian that allows customers to buy, sell, store, and earn on more than 30 cryptocurrencies like bitcoin, bitcoin cash, ether, litecoin, and Zcash. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York State Department of Financial Services and the New York Banking Law.
Gemini was founded in 2014 by twin brothers Cameron and Tyler Winklevoss to empower the individual through crypto. Note: Gemini is not a depository institution and Gemini Earn is not a depository account. Gemini Earn allows customers to lend their digital assets to disclosed institutional borrowers. Loans are not insured by Gemini or any governmental program or institution.