Gemini Deepens Ripple Ties With XRP Credit Card, RLUSD Expansion Ahead of IPO

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Gemini is expanding its partnership with Ripple,rolling out an XRP rewards credit card for U.S. customers and broadening theuse of Ripple USD (RLUSD) as it prepares for a potential public listing.XRP Credit Card LaunchThe crypto exchange introduced a new version of itscredit card that provides cashback in XRP. Issued by WebBank, the card offers4% rewards on fuel, EV charging, and ridesharing, 3% on dining, 2% ongroceries, and 1% on all other purchases.Gemini said select merchants will provide up to 10%back on eligible transactions. “We’re giving customers and the XRP Army new ways toearn XRP and express their passion, loyalty, and excitement,” Gemini co-founderTyler Winklevoss said.Gemini also expanded the role of Ripple USD on itsU.S. platform. The $680 million stablecoin is now available as a base currencyfor all spot trading pairs, allowing traders to move between assets withoutconversion steps.“Fifty-five million Americans own crypto, and thatnumber is only increasing as more people look for easier ways to access and useit in their daily lives,” Ripple CEO Brad Garlinghouse said. “With Gemini,we’re making everyday spending a chance to earn and connect with both XRP andRLUSD.”IPO FilingThe moves come as Gemini steps up efforts ahead of aplanned IPO. The exchange filed for a listing in June and has since expandedits offerings, including tokenized U.S. stock trading and regulatory approvalin Malta under MiCA rules.According to its IPO paperwork, Gemini reported a $282million net loss in the first half of the year and secured a $75 million creditfacility from Ripple.Expect ongoing updates as this story evolves.This article was written by Jared Kirui at www.financemagnates.com.