Crypto Exchange Gemini has unveiled a credit card that you can use to earn rewards in Solana tokens on eligible purchases, as well as auto-stake the rewards you receive from your Solana credit card. The new Solana edition of the Gemini Credit Card offers these benefits, Gemini said in a Monday (Oct. 20) blog post.
- Gemini Unveils New Credit Card Offering Solana (SOL) Rewards for Users
- Gemini Debuts First-of-Its-Kind Credit Card That Lets Users Earn Solana Rewards
- Earn Solana with Gemini’s Newly Launched Cryptocurrency Credit Card
- Gemini Launches Innovative Credit Card That Rewards Purchases in Solana
- Gemini Rolls Out Credit Card Letting Users Earn Solana on Every Spend
With this card, customers can earn as much as 4% back on gas, electric vehicle charging, and rideshare; 3% back on dining; 2% back on groceries; and 1% back on all other purchases, the post said. Customers can receive up to 10% back on eligible purchases from select merchants, according to the post.
In addition, Solana credit card rewards can be automatically transferred to Gemini customers, who will receive a reward for locking up their cryptoasset and help secure the Solana network through validating transactions in return, according to the post.
“Creating a Solana version of the Gemini Credit Card was an easy decision as Solana continues to gain pace and grow its strong, active community that it’s forged as one of the leading ecosystems for new developers,” Gemini said in the post. “Solana has been one of the top-performers across all available cryptocurrencies on Gemini to date.”
The company announced in January that it would issue a cryptocurrency rewards credit card after acquiring Blockrize, which had been working on such a card.
At the time, the card will be intended to give consumers a simple way to invest in cryptocurrencies, according to Tyler Winklevoss, CEO of Gemini. “Instead of deciding when and how to invest in crypto, customers can do it when they buy their morning coffee,” Winklevoss said.
In August, Gemini and blockchain firm Ripple teamed to launch the XRP Edition of the Gemini Credit Card.
The card, of which this is a limited edition offering, pays rewards in the form of XRP, a digital currency native to the XRP Ledger (XRPL), and controlled by WebBank on Mastercard’s network.
In a blog post on Aug. 25, Winklevoss said: “By offering a special XRP edition of the Gemini Credit Card, we’re providing customers and the XRP community with even more options to buy and spend in time for the bullish rally.”
And in that same post, the Ripple CEO Brad Garlinghouse said the card would make holding crypto “easy and approachable for everyone”.
