Gemini Launches XRP Credit Card with Rewards as RLUSD Trading Expands

The August 25, 2025 launch marks a significant partnership between Gemini and Ripple, backed by $75 million in joint investment.

The timing comes as Gemini prepares for its public listing, having filed IPO paperwork despite reporting $282.5 million in net losses for the first half of 2025. This strategic move aims to attract the dedicated XRP community while positioning both companies in the growing crypto payments market.

XRP Credit Card Rewards Structure

The new Gemini Credit Card XRP Edition offers competitive cashback rates exclusively in XRP tokens. Cardholders earn up to 4% back on gas purchases, electric vehicle charging, and rideshare services, with a monthly cap of $300 before rates drop to 1%. Dining purchases earn 3% back, groceries provide 2% rewards, and all other qualifying purchases return 1% in XRP.

Additionally, Gemini has partnered with select merchants to offer up to 10% cashback on qualifying purchases for all Gemini Credit Card holders. These enhanced rates position the card competitively within the crypto rewards space.

The card comes with no annual fee, no foreign transaction fees, and no charges for receiving crypto rewards. The launch promotion offered a $200 XRP bonus for applicants approved by June 30, 2025, who spent $3,000 within their first 90 days, though this promotional period has now ended.

Why Gemini Chose XRP

Gemini’s decision to create an XRP-specific card stems from impressive historical performance data. According to Gemini’s analysis, credit card users who held XRP rewards for at least one year saw their rewards grow by 452.9% as of July 27, 2025. This represented the highest percentage gain among all reward currency options available to Gemini cardholders.

Source: @Gemini

To illustrate this performance, $73,700 in XRP rewards earned between October 2021 and July 2024 were worth over $407,000 by July 2025. This substantial growth demonstrates XRP’s potential as a long-term store of value for rewards programs.

Tyler Winklevoss, Gemini’s co-founder and CEO, explained the strategy: “The Gemini Credit Card is a bridge to the future of finance. By introducing a special XRP edition of the Gemini Credit Card, we’re giving customers and the XRP Army new ways to earn XRP and express their passion, loyalty, and excitement.”

RLUSD Integration Expands Trading Options

Simultaneously, Gemini expanded access to Ripple USD (RLUSD), Ripple’s dollar-backed stablecoin that has grown to over $640 million in market cap since launch. RLUSD now serves as an optional base currency for all spot trading pairs available to US customers on Gemini’s platform.

This integration eliminates extra conversion steps and fees when traders move between RLUSD and other digital assets. Previously, traders often needed multiple transactions to achieve desired positions, incurring additional costs and delays.

RLUSD ranks among the top six USD stablecoins by market capitalization. The stablecoin received approval from the New York Department of Financial Services in December 2024, providing regulatory clarity for institutional adoption.

Brad Garlinghouse, Ripple’s CEO, emphasized the partnership’s significance: “Fifty-five million Americans own crypto and that number is only increasing as more people look for easier ways to access and use it in their daily lives. With Gemini, we’re making everyday spending a chance to earn and connect with both XRP and RLUSD.”

Card Features and Security

The limited-edition metal card comes in black, silver, or rose gold finishes made from recycled materials. For security purposes, the 16-digit card number is not printed on the physical card and can only be accessed through Gemini’s mobile or web application.

Rewards are deposited instantly into users’ Gemini accounts after purchases, allowing immediate access to hold, trade, or cash out XRP. This differs from traditional cashback programs where rewards may take days or weeks to process.

Cardholders also receive access to Mastercard World Elite benefits, including discounted subscriptions to Peacock Premium and savings on services like Instacart, ResortPass, Lyft, and Booking.com.

The card is currently available only to US residents, with applications accepted from all 50 states and Puerto Rico. WebBank issues the card while Mastercard provides the payment network infrastructure.

Strategic Context and Financial Position

The partnership represents a significant milestone for both companies as the crypto industry continues integrating with traditional financial services. The $75 million backing from Ripple includes a credit facility that supports Gemini’s expansion plans ahead of its planned IPO.

According to Gemini’s IPO filing, the exchange reported a net loss of $282.5 million on $67.9 million in revenue for the first half of 2025, compared to a $41.4 million loss on $74.3 million in revenue during the same period in 2024. Despite these financial challenges, Gemini continues expanding its product offerings and international presence.

The credit card launch coincides with renewed optimism around XRP following Ripple’s legal victory over the SEC. With regulatory clarity improving and institutional adoption growing, the timing appears strategic for capturing increased market interest.

XRP’s utility continues expanding globally as financial institutions increasingly adopt the XRP Ledger for cross-border payments and settlement. Major institutions including abrdn, Braza Bank, and Société Générale–Forge have implemented XRPL technology in their operations.

Bridging Traditional and Digital Finance

Gemini’s XRP credit card and expanded RLUSD access represent practical steps toward mainstream crypto adoption. By making everyday spending an opportunity to earn digital assets, these products bridge traditional finance with emerging blockchain technology. The partnership’s success will likely influence similar collaborations as the industry continues evolving toward greater mainstream integration.