- Gemini is launching a new XRP Mastercard on August 25, offering up to 4% cashback in XRP tokens
- Pro-XRP attorney John Deaton publicly bets that the card will outperform all its competitors
- The launch marks a strategic U-turn for Gemini, which only listed XRP after a key 2023 court ruling
The XRP community’s focus has locked onto August 25, after a massive billboard in New York City revealed the upcoming launch of an XRP Mastercard. The card, issued by WebBank and powered by Gemini, promises to deliver up to 4% cashback in XRP on everyday purchases.
Gemini teased the announcement on X, saying, “Prepare your bags,” hinting at one of its boldest XRP-focused products to date.
Notably, the revelation comes after multiple teasers over the past weeks from the exchange on X, where it hinted at something big coming for XRP. After finally letting the cat out of the bag on Thursday, excitement has swept through the XRP community. The post from Gemini has attracted over 2.2 million views.
Deaton: “This Card Will Outdo the Rest”
Pro-XRP attorney John Deaton added his voice to the building excitement publicly stating that he expects the Gemini XRP Mastercard will outperform all other crypto cards on the market.
While noting that his wager is a “friendly” one and not tied to compensation, Deaton stressed his confidence in the XRP community, saying he “just knows a thing or two about the XRP Army.”
Gemini’s U-Turn on XRP
This launch marks a complete strategic reversal in Gemini’s stance on XRP. The exchange refused to list the token for years, only adding it after a 2023 US court ruling clarified XRP’s legal status. Since then, Gemini has embraced XRP more with several XRP promotions and campaigns after listing. Now, it is pushing into consumer financial products.
Market analysts note that the card’s design could create a powerful new source of demand for XRP. By tying cashback directly to XRP, every purchase through the card creates a new source of demand for the asset.
One analyst also draws comparisons to Visa’s partnership with Solana in 2023, which triggered a 20% surge in SOL’s price. They see a similar pump playing out for XRP.
Related: XRP Gets Buy Signal as Analyst Eyes Potential 3x Gain to $9
With launch day set for late this coming Monday, excitement continues to build across the XRP community. Some see the Gemini XRP Mastercard as mainstream validation of the token’s use case. For others, like John Deaton, it’s a bet that the XRP Army will finally see its own consumer product outshine the competition.
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Source: https://coinedition.com/gemini-xrp-mastercard-launch-aug-25/