Cryptocurrency platform Gemini has rolled out the first details of its upcoming cryptocurrency rewards credit card, according to a press release. It will come with a partnership with Mastercard and WebBank, the latter of which is the bank issuing the card.
Since the concept was announced earlier this year, the waitlist for the card has amassed over 140,000 people, the release stated. Cardholders will be eligible for rewards on purchases, there will be no eligible fees, and there will be “near-instant access” after one is approved for the card.
Gemini CEO Tyler Winklevoss said in the release that the card will give consumers “an easy point of entry and an effortless way to earn crypto as a reward without changing their daily spending habits. Mastercard continues to evolve and meet both industry and consumer demands and commit to the crypto space. We’re excited to partner with them on our first real-time crypto rewards card, further helping to bring crypto mainstream.”
“Expect a packed lineup of premier exhibitions and NFT collaborations, along with Binance’s industry-best liquidity — all with minimal fees for users and creators,” the post stated.
The market will attempt to bring together one-of-a-kind offerings and collaborations, according to the post. Artists will receive 90 percent of the proceeds for sales, and users will be able to deposit NFTs to the “trading market” and list them for sale or auction at minimal prices.
The CBI is authorizing banks and licensed foreign exchange (FX) shops to use cryptocurrency as payment for imports, according to the report. The regulatory framework says the crypto must be derived from licensed crypto miners only. The mining is officially permitted in Iran as an industrial activity, and operators have to get licensed.