Gemini Expands Crypto Credit Card Options to Solana

Crypto exchange Gemini has introduced its new Solana Edition Credit Card. The card lets users earn up to 4% back in SOL on eligible purchases. At the same time, users can automatically stake those rewards to earn extra yield. 

This initiative shows the exchange’s focus on making it easier for users to earn and grow crypto through everyday spending.

Gemini Launches Solana Credit Card with Auto-Staking Rewards

The Solana Edition Credit Card launch builds on the success of Gemini’s XRP Edition Credit Card. The XRP card, branded by Mastercard, helped the exchange expand its rewards service and attract more users interested in earning crypto through everyday spending.

The new card is designed with Solana’s branding and brings blockchain rewards into daily spending. Users can earn up to 10% back with select merchants through Gemini’s Vault Rewards program. Although this depends on users’ monthly spending and active promotions on the platform. 

For the first time, Gemini allows automatic staking of Solana rewards directly from the account, with potential earnings of up to 6.77%. As announced, there is no need for manual transfers or third-party wallets. 

Gemini’s Solana Card Makes Earning and Spending Crypto Easier

Notably, the new Solana credit card maintains Gemini’s compatibility with other digital currencies. This means it supports over 50 cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). It also provides instant crypto rewards and comes with no annual or foreign transaction fees. 

Cardholders can also enjoy discounts and benefits from the company’s partners, such as Booking.com and Lyft, among others. The Solana Credit Card is part of Gemini’s wider plan to use Solana’s high-speed blockchain. Last month, the exchange added support for USDC and USDT transfers on the SOL network, making stablecoin transactions faster and cheaper.

With this launch, Gemini continues to make it easier for users to earn, stake, and spend crypto in everyday life. Gemini’s move shows its plan to offer more tools for users in the growing world of decentralized finance (DeFi) and expand its on-chain ecosystem.

Gemini Expands Globally and Prepares for U.S. IPO

This initiative comes as Gemini is expanding its services globally and working on regulatory approvals. In May, Malta Financial Services Authority (MFSA) granted the exchange a MiFID II license, allowing the company to sell crypto derivatives across Europe. 

Later in June, the exchange introduced tokenized shares of Strategy (MSTR) to its European Union (EU) users. 

Gemini is also planning to go public in the United States later this year. Nasdaq recently invested $50 million ahead of the company’s planned IPO, showing confidence in the company’s future.

Gemini, founded in 2014 by twins Cameron and Tyler Winklevoss, is well-known in the crypto world but still sees lower trading volumes than Coinbase and Binance. The company hopes these new services will help it grow in the competitive crypto market.