XRP Mastercard by Gemini Overtakes Coinbase’s App Store Rank

In collaboration with Ripple, Gemini has released a limited-edition XRP credit card that offers U.S. customers who make regular purchases up to 4% back in XRP. The new product, which is offered by WebBank under Mastercard, pushed Gemini’s app in the top 16, overtaking Coinbase.

Attracting users

The launch attracted more users to the exchange’s app, elevating Gemini’s app above Coinbase in the United States’ App Store ranking for finance, quite a surprise for a field that Coinbase has long controlled.

Additionally, Gemini has teamed up with a few retailers to provide up to 10% back in XRP, trying to push the adoption further. According to Gemini, rewards are given out right away, eliminating the often observed delays in conventional credit card point systems.

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Ripple recently supported Gemini’s initial public offering (IPO) filing with a $75 million credit facility that could be increased to $150 million, which is tied directly to the issuance of the “crypto card.”

Additionally, Ripple’s RLUSD stablecoin, which is currently accessible for U.S. spot trading, into Gemini’s borrowing options. With a market valuation of over $640 million, RLUSD has rapidly risen to rank among the top six dollar-pegged tokens.

Gemini’s performance

This launch timing corresponds to the rising demand for financial products that are crypto-native. There is hope that the new card will be well received by the XRP community and beyond, as Gemini reports that users who chose to use XRP rewards between 2021 and 2025 experienced long-term gains of over 450%.

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Ripple sees the product as a means of strengthening XRP Ledger’s position in international payments and settlement, while broadening the real-world use cases for XRP and RLUSD. However, Gemini’s finances are still struggling. While revenue fell sharply, the exchange reported a $282.5 million net loss in the first half of 2025, down from $41.4 million the year before.

Coinbase’s app usually ranks at the top of the cryptocurrency exchange rankings, but the XRP card offers a rare competitive victory despite these obstacles. The launch represents a significant change in the competitive landscape, but it is unclear if Gemini can maintain this momentum in the face of more general market difficulties.