XRP News Today: Gemini Surpasses Coinbase in App Store Finance Rankings After XRP Mastercard Launch

Gemini has surpassed Coinbase in the U.S. iOS App Store rankings following the launch of its XRP Mastercard, a special edition credit card developed in partnership with Ripple and issued by WebBank under Mastercard’s World Elite program [1]. According to Sensor Tower data, Gemini climbed to 11th place in the finance category, while Coinbase fell to 26th [1]. This shift marks a significant moment considering that Coinbase reports over three times the daily trading volume of Gemini—$4.54 billion compared to $382.49 million in 24-hour activity [1].

The XRP Mastercard offers up to 4% cashback in XRP on everyday purchases, with no annual fees. Cardholders earn tiered rewards based on spending categories, including 4% on gas, EV charging, and rideshares, 3% on dining, and 2% on groceries [1]. A $200 bonus in XRP is available for new users who spend $3,000 within 90 days. Select merchant partnerships also offer up to 10% back on qualifying purchases. Gemini reports that users who selected XRP as a rewards currency and held it for at least a year saw returns increase by more than 450% between October 2021 and July 2025 [1].

The product has been well-received by both Gemini and Ripple executives. Tyler Winklevoss, co-founder and CEO of Gemini, called the card “a bridge to the future of finance” [1]. Ripple CEO Brad Garlinghouse celebrated the launch on social media, writing, “An XRP rewards credit card out in the world?! What a time to be alive, XRP family” [1].

The card’s launch coincided with the expanded availability of Ripple’s RLUSD stablecoin on Gemini, now tradable on the U.S. spot market. RLUSD, a USD-backed token, has grown to a market capitalization of over $640 million since its launch earlier this year [1]. Sensor Tower analytics indicate that Gemini maintained a top 25-30 position in the App Store’s finance category between July 28 and August 26, with over 90,000 downloads in the month of August [1].

Coinbase experienced considerable volatility in the same period, dropping from around 95th place in late July to 155th in mid-August before jumping to 11th place. Tyler Winklevoss highlighted the move as a sign that “The flippening is accelerating,” referring to the overtaking of a platform with significantly higher trading volumes [1].

The XRP Mastercard is part of a broader strategic partnership between Gemini and Ripple, which includes a $75 million credit line that could expand to $150 million to support Gemini’s planned initial public offering (IPO). Gemini recently filed its S-1 with the SEC to list on Nasdaq under the ticker “GEMI,” positioning itself to become the third U.S. crypto exchange to go public following Coinbase in 2021 and Bullish in early 2025 [1]. The agreement also introduces RLUSD as a borrowing option once the initial credit facility is used, integrating Ripple’s stablecoin into U.S. exchange infrastructure.

Goldman Sachs, Citigroup, Morgan Stanley, and Cantor Fitzgerald are underwriting the offering. Despite these efforts, Gemini reported a $282.5 million net loss in the first half of 2025, with cash reserves declining from $341.5 million to $161.9 million [1]. Other major crypto firms, including OKX, Grayscale, and Kraken, have also signaled IPO intentions in recent months [1].

Source:

[1] XRP Mastercard Launch Pushes Gemini Above Coinbase on US iOS App Store (https://cryptonews.com/news/xrp-mastercard-launch-pushes-gemini-above-coinbase-on-us-ios-app-store/)