Payments giant Mastercard is launching a new crypto rewards credit card this summer in partnership with cryptocurrency exchange Gemini, the two companies announced Tuesday. Mastercard will be the exclusive card network with Webbank as the bank issuing the card.
Mastercard is launching a new cryptocurrency rewards credit card featuring real-time rewards in partnership with crypto exchange Gemini. Cardholders will earn up to 3% back in real-time in bitcoin or a number of supported cryptocurrencies.
Holders of the new credit card will earn up to 3% back on qualifying purchases in bitcoin or any of the more than 30 cryptocurrencies supported by the exchange. Cryptocurrency rewards will automatically be deposited into the cardholders’ accounts at the exchange. There is also no annual fee for the card.
The project was introduced early this year and so far more than 140,000 people are on the waitlist. When launched, those who are on the waitlist will receive first access to apply for the card.
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