Earlier this week, Gemini officially launched its XRP credit card. The product offers up to 4% cashback on a wide range of goods and services. According to Gemini, the decision to roll out the card was inspired by XRP’s strong price rally in recent months.
However, the community’s reaction has been underwhelming. Many argued that the card brought nothing particularly new, as XRP rewards had already been integrated into Gemini’s existing program. Others also criticized the fact that the card is currently available only in the U.S.
To ramp up excitement, both Garlinghouse and Gemini have been actively promoting the product. Gemini CEO Tyler Winklevoss even joked that Garlinghouse would be given a special “whale limit” on his XRP card, quipping: “I’m told he’s good for it.”
David Schwartz – Ripple’s Chief Technology Officer – also joined the fun, showing off his own XRP rewards card while sporting an XRP shirt and belt, sipping coffee at “XRPresso.” Winklevoss further noted that the XRP card had quickly become one of the top-trending tokens in the market.
Despite past frictions with the XRP community, Gemini is now forging closer ties with Ripple. Beyond launching the XRP card, the exchange has expanded access to Ripple’s RLUSD stablecoin. Just last month, Gemini added XRP as collateral for derivatives trading. More recently, it was revealed that Ripple had opened a credit line for Gemini ahead of the exchange’s upcoming IPO.
