Gemini (GEMI) said Monday it is expanding its crypto-linked credit card lineup with the Solana Card, a new product offering instant Solana (SOL) rewards and an optional auto-staking feature to increase returns.
GEMI’s stock was up nearly 3% in midday trade. However, retail sentiment on Stocktwits around the cryptocurrency exchange remained in ‘bearish’ territory over the past day. Meanwhile, Solana’s price dipped around 1.2% in the last 24 hours, after a brief recovery, with retail sentiment dipping to ‘bearish’ from ‘neutral’ territory.
Gemini already provides Bitcoin (BTC) and XRP (XRP) versions of its card, each offering up to 4% back in digital assets. Gemini launched the ‘XRP Edition’ of its card earlier this year, following its Bitcoin-branded version.
“Launching a Solana edition of the Gemini Credit Card was a logical choice given Solana’s momentum and its robust and active community it built as one of the top ecosystems for new developers,” Gemini said in a statement.
The Solana Card functions much like Gemini’s existing cards but includes a new auto-staking feature, allowing users to automatically stake their SOL rewards for yields of up to 6.77%. Cardholders can unstake tokens at any time, though withdrawal times may vary.
Also like the other credit cards in Gemini’s suite, rewards are category-based, with 4% back on gas, EV charging, and rideshare, 3% on dining, 2% on groceries, and 1% on other purchases.
According to Wall Street, Gemini’s crypto cards – part of the Mastercard network – are a big driver of growth. Sign-ups have surged from about 8,000 in 2024 to nearly 31,000 as of August 2025 Analysts at Truist and Needham cite newer revenue streams such as staking and crypto credit cards as key growth levers.
Truist and Needham both have ‘Buy’ ratings on the stock are betting on newer revenue streams like staking and credit cards to showcase “outsized growth,” as per TheFly.
Needham initiated coverage with a ‘Buy’ rating and a $42 price target earlier this month, noting that card growth drives three times higher average revenue per user and creates potential for expansion into tokenized real-world assets and prediction markets. Truist analyst Matthew Coad also initiated coverage with a ‘Buy’ rating and $31 target, highlighting U.S. market share gains and the “outsized growth” potential of credit cards and staking.
Mizuho initiated coverage with an ‘Outperform’ rating and a $30 price target, emphasizing Gemini’s “differentiated” platform and a compliance-first approach that benefits from the broader secular adoption of crypto. Analysts said that Gemini’s credit cards create a “flywheel effect,” with roughly half of cardholders also becoming monthly exchange traders.
Gemini, which went public in September, raised more than $425 million in its Nasdaq debut. GEMI’s stock has fallen more than 45% since then.
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