savebackcards.com
DEEN

Ethena Pay Spend Card vs MEXC Global Card

Ethena Pay Spend Card

Crypto native

7.6
Get the card
MEXC Global Card

Crypto native

6.0
Get the card

Verdict

  • Ethena Pay Spend Card scores higher overall (7.6 vs 6.0 out of 10).
  • Ethena Pay Spend Card is clearly stronger on: Fees, Cashback & rewards, Availability, Custody & security, Credit & financing.
  • MEXC Global Card is clearly stronger on: FX & international.
  • 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: Fees, Cashback & rewards, Availability, Custody & security, Credit & financing

MEXC Global Card is a good fit for

  • Stablecoin holders
  • Frequent travellers

Stronger on: FX & international

★ 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 CashMEXC Global Card vs ether.fi Cash

Conditions apply; the review lists them with sources.

Score by criterion

CriterionEthena Pay Spend CardMEXC Global Card
Fees10088
Cashback & rewards8955
Availability537
FX & international60100
Product features5356
Custody & security7060
Credit & financing7530
Limits & ATM78–
Transparency93100
Best for Cashback8.26.0
Best for Travel7.27.2
Best for Self-Custody7.6n/a
Best for DeFi Users7.86.2
Best for Stablecoinsn/a7.8
Best for High Spenders8.26.6
Best for Low Fees8.68.7
Best for Beginners7.66.4
Best Crypto Credit Card8.2n/a

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

Prepaid cardConditions apply: tap or hover for detailsShow source

Funded with USDT from the MEXC Fiat account

Network

VisaShow source
VisaShow source

Custody model

Self-custodyShow source
CustodialShow source

Launch date

No data yet
2026-08-31Show source

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
MEXCConditions apply: tap or hover for detailsShow source

Page describes MEXC Cards as issued by MEXC; no licensed issuing bank named

Tiers / plans

Standard · Pro · VIPShow source
Standard (M-Score 350–599) · Premium (M-Score 600–799) · Elite (M-Score 800+)Show source

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

Standard USD 20 issuance fee waived for a limited time

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

0%Conditions apply: tap or hover for detailsShow source

Visa exchange rate without markup (the 1% transaction fee still applies)

Crypto conversion fee

No data yet
0%Show source

Top-up fee

No data yet
FreeShow source

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

Settlement fee

No data yet
1%Conditions apply: tap or hover for detailsShow source

On every purchase, MEXC Global Card

Small transaction fee

No data yet
$0.10Conditions apply: tap or hover for detailsShow source

Transactions under 1 USD (MEXC Global Card)

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
Failed transactions: 0.5 USD each when the failed-transaction rate is 20% or moreShow source

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

10%Conditions apply: tap or hover for detailsShow source

Elite tier (M-Score 800+); 6% Premium, 4% Standard

Cashback paid in

AVAXShow source
USDTShow source

Cashback type

CryptoShow source
StablecoinShow source

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

7%Conditions apply: tap or hover for detailsShow source

APR in the exclusive MEXC Global Card Earn program (flexible)

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

Max cashback per month

No data yet
$800/monthConditions apply: tap or hover for detailsShow source

800 USDT, Elite tier; 300 USDT Premium, 100 USDT Standard

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
Rate set by the M-Score tier on the last day of the month · Paid by the 15th of the following month · Refunded or reversed purchases do not countShow source

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

Refunded or reversed transactionsConditions apply: tap or hover for detailsShow source

Cashback already credited for these transactions is deducted

Credit & financing

Credit line

YesConditions apply: tap or hover for detailsShow source

Secured by your own collateral

NoShow source

Credit type

Crypto-backed creditShow source
No data yet

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
No data yet

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)

No data yet

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

Philippines, TW, VietnamConditions apply: tap or hover for detailsShow source

Among others; MEXC does not publish the full list

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

United States, CN, India, Indonesia, Turkey, RUConditions apply: tap or hover for detailsShow source

Partial list as of August 2026; dozens of smaller jurisdictions are also on the application blacklist, which changes over time

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
NoConditions apply: tap or hover for detailsShow source

Virtual-only at launch; MEXC plans a physical card at a later stage

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

Spend stablecoins

No data yet
YesShow source

Spendable assets

No data yet
USDTConditions apply: tap or hover for detailsShow source

Card is funded with USDT via the MEXC Fiat account

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

Limits

Spending limit

No data yet
$1,000,000Conditions apply: tap or hover for detailsShow source

Per day; 80,000 USD per transaction

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

MEXC Global Card

  • Annual & monthly fees+0 EUR
  • FX costs+0 EUR
  • Crypto conversion–
  • Per-transaction fees−180 EUR
  • 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 MEXC Global Card comparisons