Gemini has announced a strategic partnership with Ripple to launch an XRP version of the Gemini Credit Card, marking a significant expansion of XRP's utility in global payments and financial applications. The collaboration also includes expanded access to Ripple USD (RLUSD), providing users with greater stability and flexibility.
Ripple CEO Brad Garlinghouse emphasized the growing demand for cryptocurrency integration in daily life, stating: "55 million Americans own cryptocurrencies, and this number is growing as more and more people seek more convenient ways to obtain and use cryptocurrencies in their daily lives. With Gemini, we make everyday purchases an opportunity to earn XRP and RLUSD."
The news has already triggered positive market momentum for XRP, with reports indicating a strong price rebound following the announcement. The partnership builds on XRP's growing institutional adoption, with major entities like abrdn, Braza Bank, Vert, Societe Generale Forge, and Guggenheim Financial Services already utilizing the XRP Ledger (XRPL) for its speed and low transaction costs.
Additionally, cloud mining platform SolMining has introduced mining contracts that support XRP and RLUSD payments, though this appears to be a separate commercial offering rather than part of the core Gemini-Ripple partnership.