Gemini launched a limited-edition credit card in partnership with Zcash, offering rewards paid in ZEC and no annual maintenance fees. The card is available to US customers and provides Zcash cashback credited to users’ Gemini accounts.
One of the product’s key features is that it links a privacy-focused asset to users’ everyday spending and finances. This further strengthens privacy companies like Zcash, ensuring compliance with regulatory frameworks.
Another key feature of this card is its rewards system for energy and transportation-related expenses. This system operates based on the user’s tier and increases their spending capacity within Gemini, as the ZEC cashback is deposited directly into the user’s account.
The company will offer 4% ZEC cashback on gasoline, electric vehicle charging, public transportation, taxis, and ride-sharing services, capped at $300 per month. It will also offer 3% cashback at restaurants, 2% on groceries, and 1% on other purchases.
Gemini described the product as a branded version of its existing credit card offering, providing a familiar user experience for its customers.
Focus on privacy and user benefits
Gemini has focused the card on Zcash, a cryptocurrency that prioritizes user privacy. Globally, it’s seen as a step toward integrating these types of currencies into regulated and everyday frameworks.
Shortly after the announcement, reports indicated a significant increase in ZEC trading volume on the Gemini platform, suggesting immediate market interest. For crypto traders and treasuries, the product creates a new entry point for organically accumulating ZEC through spending rather than direct market purchases.
Operationally, it facilitates ZEC accumulation for users who use the currency for exchange, doing so centrally and without fees. It will also serve institutional treasuries for much larger ZEC flows.
Risk factors identified at launch include user adoption and regulatory continuity. Analysts noted that wider acceptance of a privacy currency within regulated products will depend on continued clarity in compliance and public policy discourse surrounding financial privacy.
Investors and market participants are now focusing on adoption metrics and regulatory developments, which will serve as the ultimate test for the card’s thesis. If adoption and flows on the platform continue, the product could increase the utility and circulation of ZEC on Gemini; if regulatory headwinds arise, the initiative could face limitations that restrict its impact.
