Ripple's CEO, Brad Garlinghouse, recently made headlines by proudly showcasing the new Gemini XRP credit card, an initiative designed to capitalize on the cryptocurrency's market performance. This launch, however, has been met with a mix of excitement from high-profile figures and notable skepticism from the broader XRP community.
The Gemini XRP Card: Features and Promotion
Gemini officially released its XRP credit card, offering an attractive incentive of up to 4% cash back on various purchases. According to Gemini, the card's introduction was a direct response to the significant gains recorded by the XRP token, aiming to integrate the digital asset further into everyday spending. Ripple's top executives have actively promoted the card, with CEO Brad Garlinghouse sharing a photo of himself with the card, and CTO David Schwartz also displaying his while sporting XRP-themed attire, highlighting institutional endorsement.
Lukewarm Reception from the XRP Community
Despite the high-profile promotion and generous rewards, the Gemini XRP card has received a rather tepid reaction from many within the XRP community. A primary point of contention is the perceived lack of novelty, with some holders noting that Gemini already offered XRP rewards through its ordinary programs, meaning the new product brings little fundamentally new to the table. Additionally, the card's limited availability, being exclusively offered in the U.S., has drawn criticism from the global XRP user base, who feel excluded from the offering.
