Crypto credit cards developed by the Gemini exchange became available to American users. The company has released a new product in partnership with WebBank and MasterCard payment system.
The card is available to residents of 50 states, and Gemini announced its intention to develop such a product last year. You can use the card in everyday transactions.
Moreover, the holders will be able to receive cashback. The Gemini press service stressed that since last year, more than 500,000 people have expressed a desire to get a card. It supports about 60 virtual coins, including Bitcoin, Ethereum, and Dogecoin.
Cashback will be up to 3% depending on the place where the crypto-credit card is used.
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At the time of purchase through the MasterCard payment system, the cryptocurrency is automatically converted into US dollars.
Gemini CTO Pravjit Tivana said that with the help of the crypto card, a large number of Americans are going to gain access to digital currencies, and the industry will become more integrated into the US financial system.
Note that Gemini is included in the list of the largest platforms in terms of cryptocurrency trading volumes. Last year, it was able to significantly strengthen its position in the market.