Major US cryptocurrency exchange Gemini appears to be on track to release an XRP-themed card, according to its Thursday post on social media.
The exchange has placed a billboard in a busy commercial area of Manhattan in order to promote the new product, which is slated to be released on Aug. 19.
As reported by U.Today, Gemini recently teased the “next era” of XRP rewards ahead of the Thursday reveal.
That said, the most recent announcement has attracted some backlash from the exchange’s Bitcoin-centric users, who have slammed the exchange for actively advertising the token that they deem to be centralized.
Some XRP holders have also questioned whether the launch of the product (and the billboard in a busy neighbourhood of Manhattan) will have any impact on the price of the Ripple-linked token, which has been struggling to pick up more steam as of late.
Gemini’s XRP rewards program
The launch of Gemini’s XRP card comes after the exchange also launched rewards for the popular Ripple-linked altcoin in March. This made it possible for the holders of the cryptocurrency to earn up to 4% cashback with Gemini’s credit card.
Now, Gemini is specifically launching an XRP-centric credit card to further cater to the community.
From haters to cheerleaders
Gemini’s newfound love for XRP is a relatively recent phenomenon. In fact, Tyler Winklevoss, the co-founder of the leading US cryptocurrency exchange, has openly feuded with the community behind the token after refusing to list the token.
In fact, Gemini refused to list XRP even after Ripple dangled $1 million in front of it, according to the SEC’s complaint.
However, following Ripple’s legal victory, the exchange moved to list XRP in August 2023.
