Gemini Launches XRP-Backed Credit Card Amidst IPO and Financial Growth Challenges

Gemini, the well-known cryptocurrency exchange, has unveiled a new credit card that rewards users in Ripple (XRP), aiming to expand its offerings in the crypto payment space. This launch follows Gemini’s filing for an Initial Public Offering (IPO) in August 2025 and a significant credit line of up to $150 million extended by Ripple.

The new Gemini credit card offers up to 4% cashback on fuel and electric vehicle charging, 3% on dining, 2% on groceries, and 1% on general spending — all paid in XRP. This innovative reward structure provides crypto enthusiasts a seamless way to earn digital assets through everyday purchases.

Despite facing financial challenges with a net loss of $282.5 million in the first half of 2025 and cash reserves falling from $341.5 million at the end of 2024 to $161.9 million by mid-2025, Gemini remains committed to growth and innovation. Notably, XRP investors have enjoyed a remarkable 453% gain for the year ending in July, highlighting the potential upside for cardholders earning rewards in XRP.

For those looking to enter or expand their crypto portfolio, platforms like Bitlet.app offer innovative solutions such as Crypto Installment services, enabling users to buy cryptocurrencies now and pay monthly, reducing financial barriers.

Gemini’s new credit card adds a compelling option for crypto rewards, and with the backing of Ripple and strong investor interest in XRP, it represents an exciting development in crypto payments and finance.