Executive Summary
The Story So Far
Why This Matters
Who Thinks What?
Gemini, the crypto exchange founded by the Winklevoss twins, officially launched the Solana edition of its credit card on October 20, offering customers up to 4% back in Solana (SOL) rewards on purchases. A notable new feature allows cardholders to automatically stake their earned SOL rewards, potentially yielding up to 6.77% annually.
Reward Structure and Merchant Partnerships
The new Gemini Credit Card provides a tiered reward system for Solana. Cardholders can earn 4% back on gas, EV charging, and rideshare purchases, 3% on dining, and 2% on groceries. All other purchases will receive 1% back in SOL.
In addition to these standard rates, Gemini has established partnerships with various merchants to offer enhanced rewards. Through these collaborations, cardholders can earn up to 10% back on qualifying purchases across all Gemini Credit Card options.
Automated Solana Staking
A key innovation for the Solana card is the integration of automatic staking for earned SOL rewards. This allows customers to passively grow their Solana holdings, with potential returns reaching up to 6.77% APY. Solana, which operates on a proof-of-stake (PoS) consensus mechanism, enables users to stake their assets to help secure the network and earn rewards.
New customers can opt into this auto-staking feature during the sign-up process, while existing Gemini cardholders can activate it when they select SOL as their preferred crypto reward. This mechanism simplifies the process of earning passive income directly from credit card rewards.
Solana’s Strategic Choice
Gemini cited Solana’s “robust and active community” and its standing as a top blockchain ecosystem for developers as primary reasons for launching the dedicated card. The company also highlighted Solana’s strong past performance; users holding SOL rewards for at least a year saw a 299.1% growth as of July 27, 2025, making it one of the highest-performing cryptocurrencies on Gemini.
Currently, SOL ranks as the world’s sixth-largest cryptocurrency by market capitalization, exceeding $100 billion at the time of the announcement. Its significant market presence and technological foundation align with Gemini’s strategic expansion of its crypto reward offerings.
Card Benefits and Flexibility
The Gemini Credit Card maintains its customer-friendly structure with no annual fee, no fees for receiving crypto rewards, and no foreign transaction fees. This transparent fee structure aims to maximize the value proposition for cardholders.
Furthermore, cardholders retain the flexibility to switch their reward preference among more than 50 cryptocurrencies available on the Gemini platform. This allows users to adapt their reward strategy based on market conditions or personal investment interests.
Key Takeaways
The launch of Gemini’s Solana-edition credit card introduces a new avenue for crypto enthusiasts to earn and grow their SOL holdings through everyday spending. By combining high reward rates with an automated staking option, Gemini aims to appeal to Solana’s engaged community and facilitate broader adoption of crypto rewards.
