Quick overview

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Gemini introduced a new XRP-branded Gemini Credit Card, issued by WebBank and supported by Mastercard’s World Elite program. Designed for XRP enthusiasts, the “Gemini Credit Card, XRP Edition” offers up to 4% cash back in XRP on purchases.

Gemini explained the launch in a post on X: “Introducing the Gemini Credit Card, XRP edition.”

Users can exchange their rewards for other cryptocurrencies or convert them into XRP after they are automatically deposited into their Gemini accounts.

Standard safeguards like fraud prevention, purchase monitoring, and zero liability for unauthorized charges are guaranteed by Mastercard’s World Elite framework.

It is not a standalone Mastercard XRP launch; rather, it is part of Gemini’s growing line of cryptocurrency rewards products that utilize Mastercard’s network. Mastercard provides its global payment power, while XRP offers quick and inexpensive infrastructure for cross-border settlements.

WebBank, a regulated US bank, provided the compliance layer required to integrate this product into the financial system. Gemini posted a teaser in New York that read, “Get ready,” featuring an image of a Mastercard with an XRP stamped on it. The phrase, “Issued by WebBank,” suggests an official launch is imminent. If this project comes to fruition, Mastercard could make a significant contribution to the emerging Web3 ecosystem, risking its market dominance and power, among other things.