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Ethena Pay Spend Card vs Exa Card (Uphold)

Ethena Pay Spend Card

Crypto native

7.6
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Exa Card (Uphold)

Crypto native

6.5
Get the card

Verdict

  • Ethena Pay Spend Card scores higher overall (7.6 vs 6.5 out of 10).
  • Ethena Pay Spend Card is clearly stronger on: Credit & financing.
  • A full annual cost comparison is not possible yet because some fees are not disclosed or not yet researched.

Ethena Pay Spend Card is a good fit for

  • People who want to keep control of their keys
  • Users who need credit rather than a debit/prepaid card
  • Everyday spenders who want cashback

Stronger on: Credit & financing

Exa Card (Uphold) is a good fit for

  • Users who need credit rather than a debit/prepaid card

★ Our pickEditorial choice · score unchanged · Affiliate link

Neither card is our pick. The card we recommend instead:

ether.fi Cash

Crypto native · ether.fi

8.1

Why we recommend it

  • 3% cashback in ETHFI on up to $2,000 of spend a monthConditions apply
  • 5.35% variable interest on your balanceConditions apply
  • No annual or monthly fee on the base tierConditions apply
  • Extras on the base tier: airport lounge access, travel / rental car insurance, purchase protectionConditions apply
  • Self-custody: funds stay in your own walletConditions apply
Get the card
Review & sourcesEthena Pay Spend Card vs ether.fi CashExa Card (Uphold) vs ether.fi Cash

Conditions apply; the review lists them with sources.

Score by criterion

CriterionEthena Pay Spend CardExa Card (Uphold)
Fees100100
Cashback & rewards89–
Availability53–
FX & international60–
Product features5353
Custody & security7070
Credit & financing7560
Limits & ATM78–
Transparency93100
Best for Cashback8.2n/a
Best for Travel7.2n/a
Best for Self-Custody7.6n/a
Best for DeFi Users7.86.8
Best for High Spenders8.2n/a
Best for Low Fees8.68.0
Best for Beginners7.67.3
Best Crypto Credit Card8.27.0

Conditions apply, e.g. only for the base tier, up to a monthly cap or in some countries. Tap a value with * (or hover over it) to see them.

Product

Product status

ActiveConditions apply: tap or hover for detailsShow source

Beta; live in 48 countries, more announced

ActiveShow source

Card type

Crypto-backed creditConditions apply: tap or hover for detailsShow source

Secured: collateral in your linked self-custodial wallet secures card charges

Crypto-backed creditShow source

Network

VisaShow source
VisaConditions apply: tap or hover for detailsShow source

Visa Signature

Custody model

Self-custodyShow source
HybridConditions apply: tap or hover for detailsShow source

Collateral leaves Uphold and is held in Exactly Protocol smart contracts

Card issuer / program manager

Third National (issuer); program managed by Signify Holdings, Inc. d/b/a Rain; access via Ethena Pay Ltd. (Malta)Show source
Third National; credit by Exactly ProtocolShow source

Tiers / plans

Standard · Pro · VIPShow source
No data yet

Fees

Annual fee

FreeConditions apply: tap or hover for detailsShow source

No recurring subscription or account fees for a standard account

FreeShow source

Monthly fee

FreeShow source
No data yet

Virtual card fee

FreeShow source
FreeConditions apply: tap or hover for detailsShow source

Created automatically with the Instant Credit account

Replacement fee

FreeShow source
No data yet

FX fee

1%Conditions apply: tap or hover for detailsShow source

Card-network conversion fee passed through at cost, typically around 1% and varying by currency; no Ethena Pay markup; USD spend has no conversion cost

No data yet

ATM fee

$1 + 0.65%Conditions apply: tap or hover for detailsShow source

Only where ATM access is available; ATM operator surcharges extra

No data yet

Other fees & markups

Late payment fee up to $40 · Returned payment fee $29 · ATM operator surcharges · Gas fees of liquidation transactions paid from collateralShow source
No data yet

Cashback & rewards

Base cashback

4%Conditions apply: tap or hover for detailsShow source

Standard tier on the first $2,500 of monthly spend; 1% from $2,500 to $4,000; 0% above

No data yet

Max cashback

5%Conditions apply: tap or hover for detailsShow source

VIP tier on the first $20,000 of monthly spend; Pro 4.5% on the first $8,000

No data yet

Cashback paid in

AVAXShow source
No data yet

Cashback type

CryptoShow source
No data yet

Interest on balance

6%Conditions apply: tap or hover for detailsShow source

Up to 6% on dollar balance, variable; the Boost portion only up to the tier's Boost Cap and requires at least one qualifying card transaction per month

No data yet

Cashback-eligible spend cap

$2,500/monthConditions apply: tap or hover for detailsShow source

Standard: headline rate on the first $2,500 per calendar month; Pro $8,000, VIP $20,000; lower rates above

No data yet

Cashback conditions

Rate depends on tier and steps down with monthly spend (bands reset each calendar month) · Transactions under $1.00 earn no cashback · Paid daily after the transaction settlesShow source
No data yet

Reward exclusions

Cash advances, ATM withdrawals, money orders, traveler's checks and cash equivalents · Purchases of crypto, stablecoins, NFTs, securities, foreign currency · Gambling, wagering, lottery, gaming · Gift card and stored-value purchases · Peer-to-peer transfers and remittances · Account funding, loan/credit repayments, balance transfers, insurance premiums · Fees, taxes, fines and payments to government agencies · Returned, refunded or charged-back transactionsConditions apply: tap or hover for detailsShow source

Eligibility follows the MCC assigned by the card network

No data yet

Credit & financing

Credit line

YesConditions apply: tap or hover for detailsShow source

Secured by your own collateral

YesShow source

Credit type

Crypto-backed creditShow source
InstalmentsConditions apply: tap or hover for detailsShow source

One payment or up to 8 fixed-rate installments every 28 days

Collateral assets

No data yet
BTC · ETH · USDC · XRPShow source

Interest (APR)

0%Conditions apply: tap or hover for detailsShow source

Purchases; issuer and Ethena Pay may introduce interest on new purchases with prior notice

No data yet

Interest notes

Currently 0% interest on all purchases; Issuer and Ethena Pay may introduce interest on new purchases in future with prior disclosureShow source
Fixed APR per payment option, confirmed at purchaseShow source

Grace period

Outstanding payment obligation must be paid within one calendar day, otherwise a Liquidation Event occurs; additional grace period at discretionShow source
No data yet

Repayment

Repay Ethena Pay for card charges per User Agreement by permitted means in the Ethena Pay Account; prepayment without penaltyShow source
No data yet

Liquidation risk

YesConditions apply: tap or hover for detailsShow source

Collateral can be liquidated after a Liquidation Event (e.g. unpaid charges)

YesConditions apply: tap or hover for detailsShow source

Spending limit depends on collateral value and health score

Spend by borrowing against collateral

No data yet
YesShow source

Availability

Available in

Argentina, BZ, BO, Brazil, Colombia, CR, EC, SV, GT, GY, HN, Mexico, PA, PY, Peru, SR, UY, AG, BS, BB, KY, DM, DO, GD, KN, LC, VC, TT, TC, Hong Kong, Japan, Malaysia, PK, Philippines, Singapore, Thailand, United Arab Emirates, CI, EG, GH, Kenya, MA, SN, South Africa, UG, ZM, Australia, New ZealandConditions apply: tap or hover for detailsShow source

Beta. Announced as coming soon: USA, EU, UK, Switzerland, Canada, Taiwan, South Korea

No data yet

Not available in

United StatesConditions apply: tap or hover for detailsShow source

Not available to U.S. citizens, U.S. residents or other U.S. persons; other restricted jurisdictions per Ethena Pay Terms of Use

No data yet

Own IBAN / bank details

YesConditions apply: tap or hover for detailsShow source

Virtual account (IBAN) not yet available in BB, JP, MY, PK, MA, SN, UG, AU, NZ

No data yet

Features

Apple Pay

YesShow source
YesShow source

Google Pay

NoConditions apply: tap or hover for detailsShow source

Announced as available soon

YesShow source

Physical card

No data yet
NoShow source

Virtual card

YesShow source
YesShow source

ATM withdrawals

YesConditions apply: tap or hover for detailsShow source

Availability limited and depends on card, device and country

No data yet

Blockchains

Ethereum · Polygon · Optimism · ArbitrumConditions apply: tap or hover for detailsShow source

Supported blockchains for collateral; list may be updated by issuer

No data yet

Security & custody

Deposit protection

NoShow source
No data yet

Smart-contract risk

YesShow source
No data yet

Annual cost at 1,500 EUR/month

Ethena Pay Spend Card

  • Annual & monthly fees+0 EUR
  • FX costs−36 EUR
  • Crypto conversion–
  • ATM costs−19 EUR
  • Cashback+720 EUR
  • Net annual value665 EUR

Exa Card (Uphold)

  • Annual & monthly fees+0 EUR
  • FX costsunknown
  • Crypto conversion–
  • ATM costsunknown
  • Cashbackunknown
  • Net annual valuenot enough data

Assumes 300 EUR foreign spend and 100 EUR ATM per month, base tier only. Use your own numbers

More Ethena Pay Spend Card comparisons

More Exa Card (Uphold) comparisons