Gemini’s $50M quarter shows why it is moving beyond crypto trading
Gemini reported $50.3 million in total revenue for the first quarter of 2026, up 42% from a year earlier. Geminis credit card revenue jumped nearly 300%, making financial services central to its Q1 growth story.Exchange revenue fell 27% as trading volume dropped from $13.5 billion to $6.3 billion year over year.Geminis CFTC clearing license supports its push into prediction markets, futures, options and broader trading products. The company said the increase came from services, interest income and over-the-counter activity, while transaction revenue stayed almost flat at $24.1 million. The results show how Gemini is moving beyond its original crypto exchange model. Exchange revenue fell 27% to $17.2 million as spot trading slowed. Total trading volume dropped to $6.3 billion from $13.5 billion in the same quarter last year. Credit card revenue leads growth The largest gain came from Geminis credit card business. Credit card revenue rose nearly 300% year over year to $14.7 million. Gemini said the increase came from user growth, with about 13,100 new card sign-ups in Q1 and 123,700 cumulative new cardholders over the past four quarters. Services revenue and interest income rose 122% to $24.5 million. That segment now accounts for 49% of total revenue, compared with 31% in Q1 2025.