Gemini launches credit card with Solana rewards and automatic staking features.

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According to reports, a certain cryptocurrency exchange has launched a Solana-specific credit card called 'Credit Card Solana Edition'. This card allows users to earn SOL rewards and automatically stake them for additional returns.

The exchange explained that this is the first card connected to a specific blockchain network, integrating automatic reward staking within the platform. The card design reflects Solana's brand and community, offering up to 4% SOL cashback on gas, EV charging and rideshare services, 3% on dining, 2% on groceries, and 1% on other purchases.

Customers can now automatically stake their Solana credit card rewards on the exchange. The current staking reward rate is 6.77%, allowing users to earn additional income while contributing to Solana network security. Staking involves locking coins as collateral to validate transactions.

This card reflects a new trend of combining DeFi mechanisms with traditional payment methods by converting typical credit card rewards into network participation. The exchange cited Solana's high processing speed and active developer ecosystem as reasons for choosing it.

According to the exchange, Solana rewards have been one of the best performing assets on the platform, with users who held card rewards for over a year seeing returns of over 290%.

This announcement is seen as an important example of innovative developments in crypto financial products.

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SOL-0.76%
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