The cryptocurrency exchange Gemini has recently surpassed Coinbase in the finance category of the US Apple App Store. This shift in rankings occurred following Gemini's collaboration with Ripple Labs and Mastercard to launch an XRP rewards credit card.

The XRP-themed credit card, issued by WebBank, allows users to earn up to 4% back in XRP on everyday purchases. Rewards are instantly credited to the cardholder's Gemini Exchange account. The card is available in black, silver, and rose gold finishes, and is constructed largely from recycled materials. As an added security measure, the card numbers are not printed on the physical card; instead, they can be accessed through the Gemini app. New users can also receive a $200 bonus in XRP after spending $3,000 within the first 90 days.

The Gemini Credit Card rewards structure is designed to appeal to a broad base of consumers. Cardholders can earn 4% back in XRP on purchases related to fuel, EV charging, rideshare, and transit; 3% on dining; 2% on groceries; and 1% on all other purchases. Gemini is also partnering with select merchants to offer up to 10% back on qualifying purchases.

The launch of the XRP credit card is part of a broader collaboration between Gemini and Ripple. This collaboration also includes the integration of Ripple USD (RLUSD), Ripple's U.S. dollar-backed stablecoin. RLUSD is now supported as a base currency for all spot trading pairs on Gemini's U.S. platform, which streamlines crypto trading without the need for conversion steps. RLUSD, launched earlier in the year, has already grown to a market capitalization of over $640 million.

According to Gemini, XRP has proven to be the most lucrative rewards option among its credit card offerings. From October 2021 to July 2025, users who chose XRP as their rewards currency and held it for at least a year saw their returns increase by more than 450%. Tyler Winklevoss, Co-Founder and CEO of Gemini, stated that the XRP edition of the Gemini Credit Card gives customers new ways to earn XRP and express their passion, loyalty, and excitement.

The initiative comes as Gemini prepares for a potential IPO and continues expanding its international and product offerings. Recent developments include the launch of tokenized U.S. stock trading and securing a MiCA license in Malta. According to its IPO filings, Gemini reported a $282 million net loss in the first half of the year and revealed a $75 million credit facility from Ripple.

While Gemini has seen a surge in app store rankings, Coinbase reports much higher trading volumes. The price of XRP has experienced volatility, with recent slides despite the launch of the new credit card. XRP declined 3.24% from $3.01 to $2.91 in a recent 24-hour period. Increased trading volumes and liquidations have also been observed in the XRP market.

Analysts suggest that the Gemini XRP Mastercard could attract 1 million users in its first year. If that happens, the increased demand and token burns from fees could potentially push XRP's price higher. JP Morgan analysts have also suggested that XRP could generate $4.3 to $8.4 billion in its first year following the launch of an exchange-traded product.