Gemini partnered with Mastercard to launch a crypto credit card that will offer up to 3% in Bitcoin rewards to users so let’s read more in today’s cryptocurrency latest news.

Mastercard continues with its crypto-related efforts by partnering with the Gemini crypto exchange in order to introduce a new crypto reward credit card. Dubbed Gemini Credit Card already has more than 100,000 people on its wallet but will likely be launched during this summer.

Gemini partnered with Mastercard to expand the crypto options on the market. The exchange was founded and managed by the Winklevoss twins and they also announced the latest product earlier today. Apart from including Mastercard, Gemini also partnered with Utah-based WebBank industrial bank.

The statement outlined some of the key features of the card which surpassed 140,000 people on the waitlist. These include up to 3% cash back rewards on qualifying purchases in BTC or some of the other digital assets that are listed on Gemini. The rewards will be automatically deposited right after the transactions into the cardholders’ account on the exchange. Gemini also said that the card will come with no annual fees as well as 24/7 live customer support that will deliver a superior cardholder experience.

The card will be available in three colors: silver, black, and rose gold and will not contain a 16-digit card number. Instead, it will be easily accessed via the Gemini accounts and will require two-factor authentications, as CEO Tyler Winklevoss noted:

“As more customers look to enter the crypto ecosystem, the Gemini Credit Card gives them an easy point of entry and an effortless way to earn crypto as a reward without changing their daily spendings.”

Before the launch, the card will be available in all 50 US States and will be accepted anywhere where Mastercard operates. Winklevoss outlined the recent efforts by the card company with affiliation to the crypto industry as a huge milestone in terms of mass adoption. The reports also showed that the US financial services giant decided to support a few other crypto assets on its network. Linda Kirkpatrick who is the president of Mastercard North America noted that the company’s pro-crypto approach will likely satisfy the growing customer demand:

“Our work with Gemini builds upon this position, connecting consumer needs with next-generation assets and delivering a ground-breaking experience that redefines the future of card rewards and benefits.”

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Source: https://www.dcforecasts.com/altcoin-news/gemini-partnered-with-mastercard-to-introduce-crypto-credit-card/