Gemini will debut metal credit card that offers instant crypto rewards
CompoSecure Holdings, L.L.C., a leading provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, announced that it will manufacture a new crypto rewards credit card for Gemini. Gemini is a crypto platform, working with Mastercard and WebBank, the issuer and lender, on this innovative rewards credit card that will allow cardholders to earn up to 3% back on purchases in bitcoin or the more than 40 cryptocurrencies available on Gemini.
CompoSecure partners with a leading cryptocurrency exchange on innovative #crypto reward payment card.
The Gemini crypto rewards credit card demonstrates how the blockchain and cryptocurrency market category is being supported by banks with innovative financial products. In fact, Bank of America recently reported that 21% of banks have incorporated some form of blockchain technology into their businesses. According to the report, some of the world’s largest banks have already begun deploying services to support blockchain or cryptocurrency, including: JPMorgan, Citibank, Wells Fargo, US Bank and Signature Bank.
Read More: Blockchain Safety: Why You Should Create a New Bitcoin Address Every Time?
“This is an important moment for CompoSecure and the industry concerning the intersection between payments and cryptocurrency,” said Jon Wilk, President and CEO of CompoSecure, which recently announced it had signed a merger agreement with Roman DBDR Tech Acquisition Corp. (NASDAQ: DBDR) (“Roman DBDR”), a special purpose acquisition company. “Gemini’s strong value proposition combined with our premium payment cards can quickly deliver an innovative approach toward rewards that will drive the cryptocurrency market forward.”
Read More: Kraken Donates $250,000 to Advance Ethereum’s Blockchain Upgrade Efforts
The Gemini Credit Card offering includes a metal credit card with features such as crypto rewards on purchases, instant rewards, no annual fee, a security-first design and instant access to a virtual card after approval. Crypto rewards will automatically be deposited into the cardholder’s Gemini account.
The Gemini Credit Card is expected to launch in all 50 U.S. states this summer and can be used wherever Mastercard is accepted. Consumers will have the choice of black, silver or rose gold. Currently, more than 300,000 customers have signed up on Gemini’s waitlist.
The Gemini cards utilize CompoSecure’s metal dual-interface construction that enables contactless purchases. To speed up production and reduce time to market, Gemini selected CompoSecure for its innovative technology, creative design and manufacturing capabilities.
Read More: Currency Agnostic Blockchain Debuts for Global Trade
