Gemini has announced its latest partnership with MasterCard to launch a crypto credit card with cashback rewards in Bitcoin. The services are associated with crypto as this recent partnership aims to innovate crypto reward credit cards. The partnership offers a 3% of cashback in Bitcoin to the investors.
Credit Card Offerings with Bitcoin Rewards From Gemini
Along with a partnership with Mastercard, the partnership extends to Utah-based industrial bank – WebBank. The announcement summarizes the key features of the card. Out of which the most prominent include up to 3% of cashback on the ‘authorized purchase’ in Bitcoin. The cashback reward is by default deposited immediately once the transaction is made. The main thing to note here is that Cashback will be provided into the cardholder’s account on the exchange.
Gemini’s CEO, Tyler Winklevoss commented:
“As more customers look to enter the crypto ecosystem, the Gemini Credit Card gives them an easy point of entry and an effortless way to earn crypto as a reward without changing their daily spendings.”
It is promised by the exchange that the card will come with no annual fees. Incorporating 24/7 live customer support the exchange commits to “deliver a superior cardholder experience.”
Talking about the specification of the card, then the card is available in silver, black, and rose gold. The cards do not contain a 16 digit card number, which is a usual number of digits on the cards. Apart from this, the Gemini accounts that are easily accessed via customers need two-factor authentication.
The launch of the card will be available in all US states and will be accepted wherever Mastercard operates.
Mastercard Strategy for The Crypto-Assets
This recent effort by MasterCard and Winklevoss twins for connecting with the crypto-space becomes a significant milestone in overcoming hurdles of adoption. As reported earlier, it is decided by the US financial services giant will lend support to a variety of digital assets directly on its network.
Linda Kirkpatrick, Mastercard’s North American president, stated;
“Our work with Gemini builds upon this position, connecting consumer needs with next-generation assets and delivering a ground-breaking experience that redefines the future of card rewards and benefits.”