- Gemini has overtaken Coinbase in the US finance app charts after launching an XRP rewards credit card.
- The limited-edition card offers up to 4% instant cashback in XRP on purchases.
- Coinbase still leads in core metrics recording US$4.54B (AU$7.00B) versus Gemini’s US$382.49M (AU$590.23M).
Gemini has climbed ahead of Coinbase in the US App Store’s finance category following the introduction of a new XRP rewards credit card. The cryptocurrency exchange, founded by Cameron and Tyler Winklevoss, launched the product in partnership with Ripple Labs and Mastercard, offering users up to 4% cashback in XRP instantly on purchases.
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From 117th to 16th: Gemini’s sharp ranking surge
Sensor Tower data revealed Gemini moved to 16th place in the finance app rankings, while Coinbase sat at 20th. On August 6th Gemini ranked 117th compared to Coinbase at 26th.
The rise is significant considering Coinbase maintains over three times Gemini’s daily trading activity, according to Messari figures. Tyler Winklevoss acknowledged the development on X, saying “the flippening is accelerating”.
Despite its app store gains, Gemini continues to trail Coinbase in core metrics. Coinbase ranks third among cryptocurrency exchanges globally, handling US$4.54 billion (AU$7.00 billion) in trades over 24 hours, while Gemini is placed 24th with US$382.49 million (AU$590.23 million).
The product launch comes at a busy time for Gemini, which has also filed to list its Class A common stock on the Nasdaq Global Select Market under the ticker GEM. The planned initial public offering, led by major banks including Goldman Sachs, Morgan Stanley and Citigroup, will mark Gemini’s first public listing.
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