Gemini Launches 4% XRP Cashback on Credit Card Purchases

Gemini, a prominent cryptocurrency exchange, has launched a cashback rewards program that allows its credit card users to earn up to 4% back in XRP when making purchases. This initiative is part of the platform’s ongoing efforts to integrate cryptocurrency into everyday spending and incentivize user engagement.

The Gemini Credit Card, introduced in 2022 in partnership with Mastercard, offers users the opportunity to receive cryptocurrency rewards instead of traditional cashback. Through this program, cardholders can earn XRP, Bitcoin, or any of the more than 50 supported cryptocurrencies as cashback on eligible transactions.

Recently, Gemini co-founder Tyler Winklevoss highlighted the availability of XRP as a cashback option, encouraging members of the XRP community to take advantage of the offer. However, this announcement faced backlash due to past tensions between the founder and the XRP community. In 2020, Winklevoss referred to members of the community as “dumb trolls” during a dispute over Gemini’s reluctance to list the token on its exchange. Although Gemini eventually listed XRP in 2023 following Ripple’s legal victory, and introduced the cash back reward that same year, some community members remain wary of Winklevoss’s current endorsement.

To access these rewards, prospective cardholders must meet Gemini’s qualification criteria, which include a credit check. Once approved, they can begin earning XRP on purchases made at merchants that accept Mastercard. New users who apply and are approved for the Gemini Credit Card by June 30, 2025, will be eligible for an introductory bonus. By spending at least $3,000 within the first 90 days of card activation, they can earn up to $200 in XRP cashback, which is deposited directly into their Gemini trading accounts. This integration allows users to benefit from potential price appreciation while maintaining flexibility in how they use their rewards.

The amount of XRP earned varies based on the type of transaction. Cardholders receive 4% back on gas station and EV charging purchases, up to a $200 monthly spending cap, after which the rate drops to 1% for additional fuel and charging transactions within the same month. Dining expenditures earn 3% back, grocery store purchases qualify for 2%, and all other eligible transactions receive 1%. This tiered structure enables users to maximize their crypto rewards in key spending categories while still earning cashback on everyday purchases.

The Gemini Credit Card’s cashback program aligns with a broader industry trend of integrating cryptocurrency rewards into financial products. Other platforms have also introduced similar XRP reward initiatives. By offering XRP as a cashback option, Gemini contributes to the token’s mainstream adoption. This program not only enhances the utility of the asset but also provides users with a seamless way to accumulate crypto while making routine purchases. With the continued growth of cryptocurrency-based financial services, cashback initiatives like Gemini’s offer a practical way for consumers to engage with digital assets. As more individuals explore these opportunities, the integration of crypto into everyday transactions is likely to expand further.