A crypto card with a real Apple Pay story and a fee schedule nobody can read

Updated October 2026

Licensed

Available in US

Fast payouts

18+ Only

Wasabi promises something quite specific: a virtual card you can bind to Apple Pay instantly, a physical card for cash, and a balance you top up with stablecoins rather than from a bank account. That is a narrow, useful promise, and on the everyday-use side it is the most concrete card in this corner of the market. But when you go looking for the numbers that decide whether a payment card is worth keeping — what a card costs to issue, what a currency conversion takes, what a cash withdrawal costs — the public pages list the fee *types* and stop. There are no amounts on them. That single fact does most of the work in this review, and I will come back to it.

I went through the terms, the help centre, the site’s own claims and the complaint record, and I scored the card 6.4 out of 10. The conditions I describe are current as of October 28, 2026.

Verdict: 6.4 out of 10, and the reason is the missing price list

Wasabi is a financial technology company that says it is “not bank or custodians” and that its OTC and card issuing are “provided in partnership with licensed institutions or banks”. Read that carefully: the company itself is not the regulated entity, and it does not name the issuer or the licences on the pages I could read. That is not automatically a warning — plenty of programmes work exactly this way, with a licensed partner underneath — but it means the name on your statement, the entity that holds your balance and the regulator you can complain to are all one layer down from the brand you are signing up for.

The card suits people who already hold stablecoins, want to spend them at ordinary shops, and specifically want a virtual card in Apple Wallet fast. It does not suit you if you need to know what you are paying before you pay, or if you want a bank you can name, or if you expect a generous rewards scheme. The audience the card describes itself as serving is businesses and users who want stablecoin virtual and physical cards — and that business-first framing shows up in the one public complaint I could find.

Here is the score broken down.

Six-and-a-half is not a rejection. It is “read the terms, ask support for the numbers in writing, and keep it for the use case it is genuinely good at”.

Will they give you the card?

The starting data says 200+ countries and regions, and the terms do not print a list of them. So the honest answer is: almost everywhere, subject to two carve-outs.

The first carve-out is residence. The terms say users must not be located in, or be residents of, “any prohibited or sanctioned jurisdiction”. Notice the wording — it is residence-based. Your citizenship or country of birth is not the same thing as where you live, and the terms do not say citizenship is separately screened here. But that does not mean citizenship is irrelevant to you in practice: sanctions screening at this layer of the industry very often runs on citizenship and country of birth as well as address, and it is the issuer partner, not Wasabi, that makes the final call. Treat the country you actually live in as the country that decides.

The second carve-out is the list you cannot read. There is a “prohibited or sanctioned jurisdiction” carve-out and no published list on the pages I read. So you cannot pre-check your own eligibility with any confidence before you apply. If you live somewhere with an active sanctions relationship, or somewhere the partner bank simply will not take customers, you will find out at the verification stage rather than at the sign-up form — which is a worse place to find out.

Who is this for in practice? The card’s own audience note is businesses and users who want stablecoin virtual and physical cards. The one public review I found makes the same point from the other side, complaining that the provider is aimed at businesses and that setup fees are high. If you are an individual just trying to buy groceries, that framing is worth weighing — you may be the secondary customer.

One more thing that is genuinely useful to know: the pages I read do not state an age requirement, and prepaid and debit cards in this category are generally available to adults (18+) with some issuers setting higher limits. So do not read “no age stated” as “any age welcome”.

How to get it

The sign-up route is the ordinary regulated one. The terms require you to “Successfully complete any required identity verification (KYC/KYB) procedures”. For individuals that means the provider may ask for a government-issued ID, proof of address, and a selfie check. For companies, expect registration documents and beneficial-ownership information instead. The terms are also clear about consequence: failure to complete verification may lead to suspension or termination.

A few honest observations on that process:

• The card’s public pages do not state which KYC level you will be placed in, or how many tiers there are. A KYC guide article exists in the help centre, which tells you documentation is organised in levels, but the tier structure itself is not published. Ask which level you land in before you send your documents.
• There is no statement anywhere on the pages I read about delivery — how long the physical card takes, or how it reaches you. Do not plan around a physical card arriving on any particular schedule.
• The card type you apply for is not fixed by the application: the offer is a virtual card and a physical card. The virtual card is the one with the instant Apple Pay binding. The physical card comes with flexible spending limits. Card tiers beyond virtual and physical are not described.

So the practical shape of applying is: sign up, complete whatever verification is asked of you, and then decide whether you want the virtual card first (immediate, Apple Pay, best for the described use case) or the physical card (cash, plastic). Given that delivery timing is not published, starting with the virtual card is the lower-risk order.

Fees: what it really costs, and what nobody will tell you

This is the section that decides my score, so I will give it the most space.

The terms list six fee types: card issuance, foreign exchange, cross-border transaction, ATM withdrawal, chargeback handling, and replacement card. Read that list again and notice what is missing: a number. Not one amount appears against any of these. No monthly fee is named either — it is neither charged nor waived on the public pages; it is simply absent.

The site adds one more: “Currency conversion rates may apply”. Again, no figures. And for cash, the site says you can “Withdraw cash from millions of ATMs worldwide with competitive rates” — competitive against what, at what cost, with what daily allowance, the pages do not say.

Here is the honest position, in a table.

Three everyday payments, and what I can and cannot tell you about each.

A grocery shop in a country that is not the US. This is the payment where you have the best chance of knowing roughly what you are paying, and the worst luck on precision. If you hold US dollars and the shop charges euros, your issuer converts — and the terms tell you a foreign exchange fee and a conversion rate exist but not what either is. A conversion rate applied to a grocery bill can quietly move the cost by a point or two or several points, and you cannot see the card currency or the network on the public pages. If the shop declines a foreign-issued or prepaid card outright — some merchants do this by policy — you have no way to know in advance.

A coffee at a chain that accepts Apple Pay. Here Wasabi is at its best and the maths is at its simplest. The virtual card supports instant Apple Pay binding, so the payment happens from your phone with one tap, and the balance is stablecoin-denominated. The costs you might expect to see here — the conversion rate if your stablecoin is not dollar-pegged in practice, or any conversion fee — are the same unpriced items. But the mechanics are clean, and this is the payment type the product is designed around.

A cash withdrawal abroad. This is the one I would not attempt without a number from support first. You have at least three cost layers, none of them published: the ATM operator’s own charge, the card’s listed ATM withdrawal fee, and any foreign exchange or cross-border fee. On top of that, the allowance — how much you can take out per day or per month — is not stated for either card type. Declined authorisations can also leave a hold on funds for several days. Going to an ATM with an unstated fee and an unstated limit is how people get a bad first impression of a card, and given the one public complaint already complains about card restrictions, I would ask support for the ATM terms in writing before relying on cash.

What I would do with that list, and it is not a trick: treat the pricing as unknown until you have it in writing from support, in the currency and network you will actually use, before you commit any meaningful balance.

How to top it up

The funding model is the whole point, and it is simple: this is a stablecoin-funded card. The product is described as “Spend with Stablecoin” — you load with a stablecoin, and the card spends from that balance. That means the card behaves like a prepaid instrument: it draws on a stored balance, so it cannot overdraw.

The coins and networks are where the public pages go quiet. On the pages I read, the specific coins and networks are not stated. Unofficial starting data indicates USDT on TRC20 and BEP20. Treat that as unconfirmed by the card — do not send a transfer on the strength of it. And before you send anything, note the hard fact about networks: a transfer sent on a network the provider does not support, or to an address belonging to a different network, can be lost or need manual support recovery with no guarantee. Blockchain transfers are irreversible.

So the top-up question to ask support is not “which coins do you take?” but “give me the exact list of coin-and-network pairs, and the deposit address for my card.” One typo here is unrecoverable, and the top-up instructions themselves are not stated on the pages I read. Note also that the network fee for your deposit is charged by the blockchain, not by the card — and on Ethereum that means a wallet holding USDT but no ETH cannot send at all.

Paying with it every day

The everyday picture is the strongest part of this card.

Apple Pay, and specifically Apple Pay. The virtual card supports “instant binding” — you add it and it is usable right away — and the physical card can also be added to Apple Pay. This is the single best feature in the product, and it is what makes the virtual card worth having even if you never touch a physical ATM. Google Pay is not stated on the pages I read, so if you are an Android user, do not assume. Blocked merchant categories are also not stated, which is unusual: most cards in this category publish at least a partial list of what they decline.

Cash. The physical card works at ATMs “worldwide” per the site, with “competitive rates” claimed and no number given. The virtual card’s stated limit is “up to 10,000 USD”; the physical card’s limits are described only as flexible.

Rewards. There is a “Cashback” product — “Get Cashback on your card purchases” — and a referral programme. Neither the rate nor the conditions are stated. Cashback with no published rate is a reason to expect little and check before you rely on it.

The app. The card runs on a web app at app.wasabicard.com. No store listing was found and ratings were not read, so I cannot tell you what the app is like to use or how the reviews look.

Getting money back. If a payment is charged back to you, refunds “may take up to 30 business days to be reflected”. Chargebacks require supporting documentation, and recovery is not guaranteed. Thirty business days is the period your balance may be out of reach, so keep a working buffer in the card for exactly this reason.

What can go wrong

The company’s own structural choice is the first thing to understand. Wasabi says custody is non-custodian, and the site describes “Security by Design”: you can create, delete and isolate funds per card. That is a genuine architectural benefit — one card’s balance can be emptied or cut off without touching the others, which is a real containment property when one card is compromised.

It is also worth being precise about what non-custodial does *not* promise. It means the provider does not hold your keys. It does not mean transfers cannot be lost, that addresses cannot be swapped by malware, that a support agent cannot be phished, or that you are protected from a compromised partner down the chain. Two-factor authentication is not stated on the pages I read, so do not assume it exists — check it in the app before you load funds.

The complaint record is thin but not empty. Trustpilot shows a TrustScore of 3 from a single review, dated 8 July 2026, one star: the reviewer says the provider is aimed at businesses, charges high setup fees (“$15,000 and up”), and that the cards are heavily restricted. I read this on 2026-10-21. One review is not a pattern, and a business-focused product being expensive for an individual is not scandal — but it is the only public signal I have, and it points at the same two things the marketing does: a business-first framing and a cost structure that is not for the individual spender. No Reddit threads were found.

Support, on the good side, is real: live chat, email with a stated “respond within 24 hours”, and phone, plus an official Telegram channel. Languages and hours are not stated, which matters a lot if your verification gets stuck and English is not your strong suit.

The industry-level risks apply here too, and they are not theoretical. A card programme depends on layers you do not control: the network (Visa or Mastercard), the licensed issuer underneath, and the crypto front-end on top. Networks do not issue crypto cards themselves — they license issuers and can suspend a programme. Precedents exist: Visa terminated its global agreements with FTX in November 2022 and the FTX US debit card was wound down; WaveCrest, an issuer that supplied crypto card brands, was suspended by Visa in Europe in 2018, closing all WaveCrest-issued Visa programmes. When a programme closes, the sequence is usually a notice period, then loading and spending stop, then you are asked to withdraw your remaining balance.

There is one closure I can report only as a single unconfirmed secondary source, and I flag it as such: a 2026 programme where new loads ended 8 July 2026 and spending stopped 8 August 2026. One source, unconfirmed, and I mention it not as a claim about Wasabi but as a reminder that timing matters when a programme ends.

Two more everyday risks worth naming. Funds “may be temporarily withheld pending investigation” — a compliance hold is a real possibility on any card in this category. And declined payments can leave a hold on your balance for several days, which on a prepaid-style card with a limit you may not even know is the real spending limit, is worth planning around.

What to take instead

Wasabi is not alone, and the comparison is more useful to you than any single score. Here are the three alternatives with the most comparable published facts, kept to what is actually stated.

Three observations from that table.

Wasabi and Card.fi are the closest in shape — virtual plus physical, stablecoin-funded, wide reach. But Card.fi is the one that publishes numbers. It lists one-time card prices (Virtual Classic $49, Virtual Premium $249), a top-up fee of 1.5% + $1.00 on Classic and 1% on Premium, an FX fee of 3.5% on Classic and 2.5% on Premium, and cashback rates by tier. Wasabi publishes the same *categories* of fee with none of the values. That is the difference between a card you can cost in advance and one you cannot, and it is why Card.fi edges the score.

Card.fi’s rewards are also the only ones in this comparison with a full rate table: cashback on card spending of 0.8% on Classic (capped at 10 USDT/month), 1% on Premium, and 1.2% or 2% on Metal depending on the cap (100 USDT/month up to 5,000 USDT, or 250 USDT/month up to 20,000 USDT), plus a headline 10% at coffee shops capped at 10 USDT/month and “up to 18%” on Metal balances, variable. Wasabi’s cashback has a name and no rate. Note also Card.fi’s warning in its own terms: send on the wrong chain and the loss can be permanent.

CardFlow and HyperCard are both weaker on disclosure than either of those. CardFlow is free to create a virtual USD Mastercard and targets Nigeria, which may be exactly right for you and completely wrong otherwise. HyperCard’s official pages state no country list at all, and its “more than 176 countries” line is about where the card is accepted, not who can get one — a distinction people get wrong constantly. Neither publishes conversion fees on the pages that could be read. If your priority is a number you can check, neither of these is currently the place to look.

What none of the four solves: a named, verifiable issuer sitting in plain sight on the public page. Card.fi says cards are issued “under licence from the relevant card schemes” without naming Visa or Mastercard; Wasabi says the same kind of thing without naming either. That is common to the category, not a fault of this card, but it means in all four cases you are trusting a partnership rather than a bank.

Who I would recommend it to

I would recommend Wasabi to you if all three of these are true. You already hold stablecoins and do not want a bank account to hold them. You want a virtual card in Apple Wallet *today* rather than after a plastic card arrives, and you plan to use it at merchants you already shop at. And you have a healthy expectation that you will need to ask support, in writing, for the fee schedule — and you will get a clear answer.

I would steer you elsewhere if any of these is true. You are spending small amounts at a normal shop and want certainty about the cost per transaction, because with no published conversion figures you cannot have it. You need a bank, a deposit guarantee, or an entity you can name in a complaint. You are on Android, because Google Pay is not stated. You want meaningful cashback, because the rate is not published. Or you are an individual who expects business-grade economics — because the one public review of this provider says exactly that setup fees run “$15,000 and up” and the cards are restricted, and nothing on the public pages contradicts it.

The honest summary: this is a well-shaped, modern card with a genuinely good virtual-card-in-Apple-Wallet experience, aimed at people who already live in crypto and a business audience, and priced in a way its own public pages decline to disclose. That combination is fine for the intended user and frustrating for everyone else. My score is 6.4 out of 10, and if the fee schedule turns out to be competitive once support sends it, the honest reader should be willing to revise that upward — and if it turns out to be steep, the absence of numbers was itself the warning.

Frequently asked questions

What is the Wasabi card?

It is a stablecoin-funded payment card offered in two forms: a virtual card that supports instant Apple Pay binding, and a physical card for everyday spending and ATM withdrawals. You load the balance with stablecoins rather than from a linked bank account, so it behaves like a prepaid card drawing on a stored balance. The company describes itself as a financial technology company, not a bank or custodian.

Is Wasabi a bank or who owns it?

Wasabi Ltd says it is a financial technology company and is “not bank or custodians”, and it says its OTC and card issuing are “provided in partnership with licensed institutions or banks”. Crucially, the issuer and the specific licences are not named on the public pages I read — a “Licenses & Compliance” page exists but the entities are not identified there either. So the regulated party sits one layer below the brand.

Who can get the Wasabi card?

Starting data says 200+ countries and regions, with no list published on the pages I read. The terms bar users who are located in, or are residents of, “any prohibited or sanctioned jurisdiction” — a residence-based rule. Age is not stated on those pages, though cards in this category are generally for adults 18+.

How do I get and apply for the Wasabi card?

You sign up and complete the required identity verification, described in the terms as KYC/KYB: government-issued ID, proof of address and a selfie for individuals; registration documents and beneficial ownership for companies. Failure can mean suspension or termination. Which verification tier you land in, and how long a physical card takes to arrive, are both not stated.

Does the Wasabi card require KYC?

Yes — the terms require you to “Successfully complete any required identity verification (KYC/KYB) procedures” before use. The provider may request ID, proof of address and a selfie, and monitors activity as part of anti-money-laundering rules. A KYC guide exists in the help centre, but the tier structure itself is not published.

How do I top up the Wasabi card?

The card is funded with stablecoins — the product is described as “Spend with Stablecoin”. The specific coins and networks are not stated on the pages I read; unofficial starting data indicates USDT on TRC20 and BEP20, which the card has not confirmed. Always get the exact coin-and-network pair and deposit address from support first, because transfers are irreversible and a wrong-network deposit can be lost.

What does the Wasabi card cost?

That is the real question, and the honest answer is that the public pages do not say. The terms list fee types for issuance, foreign exchange, cross-border transactions, ATM withdrawal, chargeback handling and card replacement, with no amounts attached, and no monthly fee is named. The site says conversion rates “may apply” and ATMs offer “competitive rates”, also without numbers.

Can I use the Wasabi card in my country?

Probably, since starting data points to 200+ countries and regions, but two things stop short of a yes. The “prohibited or sanctioned jurisdiction” list is not published, so you cannot pre-check yourself, and some merchants decline foreign-issued or prepaid cards by policy regardless of what the card’s own coverage says. Acceptance by merchants is a separate question from your eligibility.

Is the Wasabi card safe?

It makes real architectural choices in your favour — Wasabi describes “Security by Design” with funds creatable, deletable and isolated per card, and states custody is non-custodian. But two-factor authentication is not stated, and non-custodial does not prevent lost transfers or phishing. The wider risk is structural: this card depends on a licensed issuer partner and a card network beneath a company that is not itself a bank, and such programmes have been terminated before.

Is the Wasabi card worth it?

Worth it for one specific person: someone who already holds stablecoins and wants a virtual card in Apple Wallet fast, who can live without knowing the conversion rate in advance, and who is comfortable asking support for the fee schedule in writing. Not worth it if you are an ordinary spender wanting per-transaction cost certainty, you need a named bank or deposit protection, or you are on Android — Google Pay is not stated.

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