Last year, PayPal and Revolut began dabbling in crypto trading. Quontic Bank became the first bank to offer bitcoin rewards on debit card transactions. Anchorage Digital bank just received conditional approval by the OCC for a national trust charter that will make the crypto bank the first recipient of a U.S national bank charter. In September, San Francisco’s cryptocurrency exchange Kraken received the first Wyoming state banking license for a cryptocurrency firm. “And as more traditional companies adopt crypto and its use cases, it’s become even easier for consumers to use cryptocurrencies in their everyday lives to make real-world purchases, both online and in-person.”Ģ020 was a major year for cryptocurrencies like bitcoin becoming increasingly mainstream. “Cryptocurrency’s decentralized, open-source nature helps eliminate the stresses of the modern banking system by bringing access directly to consumers, making it easier to buy, sell, store and trade cryptocurrencies,” said Gemini’s chief operating officer, Noah Perlman. According to Bloomberg, the Winklevoss brothers are now considering taking Gemini public because of the recent widespread resurgence of cryptocurrency. Gemini acquired the firm in the third quarter of 2020 for an undisclosed sum. Gemini’s acquisition of Blockrize is the firm’s second acquisition so far, following its acquisition of Nifty Gateway in November of 2019. The Winklevoss brothers are known for a lawsuit which claimed that Mark Zuckerberg stole the idea of Facebook from them. Gemini was founded in 2014 by the Winklevoss twins, Tyler and Cameron Winklevoss. New York based Gemini allows customers to buy, sell and store more than 30 cryptocurrencies like bitcoin, bitcoin cash, ether, litecoin, and Zcash. Rewards will be automatically deposited into a cardholder’s Gemini account. residents and will function like a traditional credit card. The Gemini Credit Card will be available to all U.S.
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