Today, cryptocurrency exchange Gemini announced its plans to launch the Gemini credit card, which will reward users with bitcoin for purchases later this year.
The launch announcement follows the acquisition of Blockrize by Gemini, a fintech company that has already worked on such a product. Gemini has created a waiting list for early access to the credit card, which also includes Blockrize’s 10,000+ waiting list members.
“By combining the simple, reliable and secure platform from Gemini with the rewards program from Blockrize, cardholders can seamlessly get back up to 3 percent Bitcoin or other cryptos with every purchase made with the Gemini credit card,” according to a press release shared Bitcoin Magazine.
The card will be available to US residents in all states, and Gemini expects to be able to use it wherever “major cards are accepted”. Bitcoin rewards are automatically deposited into a user’s Gemini account.
“The Gemini credit card makes it easier for every consumer to invest in Bitcoin and other cryptos without changing their existing behavior,” said Tyler Winklevoss, CEO of Gemini, in the press release. “Instead of deciding how and when to buy crypto, customers can do so with their daily purchases.”