Cryptocurrency exchange Gemini has expanded its credit card product line, introducing a new credit card focused on Solana (SOL). This new card gives users instant SOL token rewards for their spending and offers the opportunity to increase their reward returns with the optional automatic staking feature.
SOL tokens, automatically staked through the Gemini platform, can yield users up to 6.77% annual returns. Cardholders can unstake their staked assets at any time, and withdrawal times can range from a few hours to a few days.
Spending Categories and Rewards
The new credit card offers different crypto reward rates based on spending categories:
- •Fuel, electric vehicle charging and transportation services: 4% SOL reward
- •Restaurant and food expenses: 3% SOL reward
- •Grocery shopping: 2% SOL reward
- •All other spending: 1% cryptocurrency reward
Strategic Goals
With this card, Gemini aims to increase user engagement with the crypto ecosystem and facilitate integration with the Solana network's growing DeFi infrastructure. The new product is considered an innovative step that combines traditional finance with blockchain-based reward mechanisms.