- Gemini introduces the Solana Card, offering instant Solana (SOL) rewards and an auto-staking option with yields up to 6.77%.
- This card follows earlier launches of Bitcoin and XRP versions, expanding Gemini’s crypto credit card suite.
- Wall Street analysts see Gemini’s crypto cards as key growth drivers, noting significant increases in sign-ups and new revenue streams.
- The Solana Card offers reward rates up to 4% on select purchases and instant staking capability.
- Gemini’s stock rose nearly 3% after the announcement, though both company and Solana tokens saw bearish retail sentiment in recent days.
Gemini has launched a new Solana Card, adding to its growing lineup of crypto-linked credit cards. The new card delivers instant Solana (SOL) rewards and includes an option for automatic staking, which enables users to earn returns of up to 6.77%. The product is available alongside Gemini’s existing Bitcoin and XRP-branded cards.
The Solana Card provides category-based rewards, with 4% back on gas, electric vehicle charging, and rideshare services, 3% on dining, 2% on groceries, and 1% on other categories. According to Gemini, the auto-staking feature allows cardholders to automatically stake their SOL rewards for additional yields. Users can withdraw their staked tokens at any time, though processing times may vary.
“Launching a Solana edition of the Gemini Credit Card was a logical choice given Solana’s momentum and its robust and active community,” Gemini said in a statement. The card operates on the Mastercard network and aims to attract users interested in both earning and staking crypto with their daily purchases.
Analysts from Truist, Needham, and Mizuho have expressed optimism about Gemini’s credit card strategy, calling these products a major source of future growth. Needham highlighted that the card’s launch has driven average revenue per user to triple, while Truist and Mizuho pointed to potential gains in U.S. market share and expansion into areas like tokenized real-world assets and prediction markets. Mizuho noted that about half of cardholders also become active exchange traders, creating a “flywheel effect” for the platform.
Gemini debuted on Nasdaq in September, raising over $425 million. Since its listing, Gemini’s shares have declined by more than 45%. After the Solana Card announcement, the stock gained nearly 3% during midday trading, despite recent bearish sentiment for both Gemini and Solana in retail markets.
For more information, see: Gemini Stock Activity and read about Bitcoin’s Market Movement.
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