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Gemini collaborates with Mastercard on crypto rewards card

Cryptocurrency exchange Gemini has partnered with Mastercard and WebBank to launch a crypto rewards credit card for its users.

Gemini disclosed on Tuesday that the partnership with Mastercard cardholders earns up to three per cent qualifying purchases in bitcoin or any of the more than 30 cryptocurrencies available on Gemini.

According to Tyler Winklevoss, CEO, Gemini, “As more consumers 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 spending habits.”

For Mastercard, the partnership marks another milestone in its acceptance of cryptocurrency on its platform. In February, the card giant revealed that it is preparing its network to handle the direct processing of cryptocurrency payments.

Linda Kirkpatrick, president, North America, Mastercard, says: “Consumer choice is at the centre of Mastercard’s strategy – giving people flexibility in how they pay and anticipating their evolving preferences.

“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.”

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