Summary
- US crypto exchange Gemini said it has launched a credit card that offers Zcash (ZEC) rewards on purchases.
- The card offers up to 4% in crypto rewards, with rewards credited automatically to users’ Gemini accounts, it said.
- Gemini said it also reviewed Ripple USD (RLUSD) for payment settlement and led an investment to establish a Zcash-based digital-asset treasury company.
US crypto exchange Gemini has launched a credit card that offers Zcash (ZEC) rewards on purchases, putting a privacy-focused cryptocurrency front and center. Building on existing options tied to Bitcoin, Solana and XRP, the company expanded its crypto-rewards lineup with a Zcash-themed card.
According to Decrypt on the 29th (local time), Gemini unveiled the “Gemini Credit Card Zcash Edition.” The card is the latest iteration in Gemini’s crypto rewards card series, in which users earn a set percentage of their spending back in Zcash.
Tyler Winklevoss, Gemini co-founder, said on X (formerly Twitter), “Privacy is normal and a prerequisite for freedom and self-sovereignty,” adding, “Start your privacy journey with the Zcash Edition Gemini Card.”
Like the existing card, the Zcash Edition carries no annual fee and offers up to 4% in crypto rewards if certain conditions are met. Rewards are credited automatically to users’ Gemini accounts without a separate conversion process.
Gemini is also widening the scope for crypto use in credit-card payment infrastructure. In November last year, it reviewed a plan with card issuer WebBank, Ripple and Mastercard to use Ripple’s dollar-pegged stablecoin Ripple USD (RLUSD) for payment settlement. In the same month, the Winklevoss twins also led an investment to establish a Zcash-based digital-asset treasury company.
YM Lee
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