TLDR
- Gemini XRP card offers up to 4% cashback in XRP with no annual or exchange fees.
- Ripple backs Gemini’s IPO and offers up to $150 million in credit support.
- The XRP card supports RLUSD stablecoin for fee-free crypto trading.
- Gemini reports $282.5 million net loss in H1 while launching XRP rewards card.
Gemini has launched a new XRP credit card, aiming to attract XRP users with cashback rewards and no extra fees. The card’s release comes as the crypto exchange pushes forward with its IPO plans, backed by Ripple. With growing competition in the crypto card space, Gemini is tapping into the XRP community to strengthen its user base and explore new revenue streams.
XRP Credit Card Offers Cashback and Zero Fees
Gemini’s XRP credit card provides users with up to 4% cashback on purchases, paid directly in XRP. According to the exchange, the card has no annual fees, no foreign transaction fees, and no exchange fees when claiming crypto rewards.
The company also stated that the card’s functionality remains similar to other Gemini cards. However, it includes an XRP-focused design aimed at users who support the asset. Cardholders can continue to earn rewards in bitcoin or any of the 50+ supported cryptocurrencies and can swap them at any time.
🚨BREAKING: Gemini partners with #Ripple to launch an $XRP-powered credit card, bringing crypto payments closer to everyday use. pic.twitter.com/mhByR6oQDO
— Coin Bureau (@coinbureau) August 25, 2025
Cameron Winklevoss commented on the release in a post on X (formerly Twitter), encouraging the XRP community to take advantage of the card. “Earn up to 4% XRP back every time you swipe,” he said. The co-founder called it a way to give more value to users while staying connected to the crypto ecosystem.
Ripple Confirms Support for RLUSD on the Card
Ripple responded to the card’s launch by confirming that the Gemini XRP card will also support its RLUSD stablecoin. In a post on X, the company stated that the card will make it easier for users to trade crypto without paying conversion fees. This feature is expected to simplify spot trading for U.S. users.
Ripple added that the partnership will help provide fast and easy access to both crypto and stable value. The RLUSD stablecoin is designed to offer a reliable option for trading and holding digital assets. Users can choose to receive rewards in RLUSD or convert it into other supported coins.
Ripple is also financially backing Gemini in its IPO process. Under the agreement, Gemini can access a credit line of up to $150 million from Ripple. This connection has led many to view the XRP card as part of a larger strategy between the two firms.
Gemini’s IPO Filing Shows Financial Struggles
Gemini’s push to launch the XRP card appears to be linked to its IPO plans. The exchange has filed for a public offering, and reports show a net loss of $282.5 million in the first half of the year. It has also been operating at a loss for the past two years, based on the IPO filing.
Launching the XRP card could be a move to bring in more users and raise transaction volumes. The exchange aims to grow its market share by appealing to specific communities like the XRP Army. Pro-crypto attorney John Deaton had earlier noted that such a card would likely see strong adoption among XRP holders.
Gemini’s leadership is also counting on new products to build trust ahead of its IPO. The exchange has been expanding its offerings to remain competitive while showing potential investors that it is working to increase revenue. The XRP card is the latest step in that direction, combining user incentives with strategic partnerships.
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