Mastercard and Gemini Exchange Launching Crypto Rewards Card
The card features no annual fee and will have real-time rewards instead of monthly payouts like most cards.
Author:
Apr 27, 2021
The card features no annual fee and will have real-time rewards instead of monthly payouts like most cards.
The US crypto exchange Gemini has partnered with Mastercard and WeBank to launch a credit card that will give its users rewards in cryptocurrency.
The card generates 3% in Bitcoin or whichever cryptocurrency the user chooses that is available on Gemini's platform and crypto rewards will be automatically deposited into the cardholders' Gemini account.
Mastercard's press release said that "Unlike most cards, which pay rewards out monthly, Gemini cardholders will receive their crypto rewards as the transaction occurs for most of their purchases. This gives cardholders full control over their rewards and allows them to benefit from any appreciation in the price of their rewards from the moment the transaction occurs."