A stablecoin card with two big gaps in the small print
Available in US
The Wasabi card is a stablecoin-funded payment card. You load it from a crypto balance, it converts that balance when you pay, and a virtual or physical card is what you hand to a merchant. The pitch is simple, the experience is mostly polished, and the company says it is not a bank. What stands out, though, is how much of the everyday detail the public pages still do not state: exact fees, the issuing bank, the licence, the card network, the card’s settlement currency, even the coins and networks you can actually top up with. That is what this review is built around, because the way those gaps affect you depends on what you are using the card for.
Data accurate as of October 28, 2026; verified against operator terms and public pages.
This review reflects Wasabi’s public pages and terms as of October 2026.
Verdict: 6.4 out of 10
Wasabi scores 6.4 out of 10 in my reading. It is a real product with a virtual card, a physical card, an Apple Pay path, a stablecoin loading flow and a web app at app.wasabicard.com. The score is held back by what is not on the page: no fee amounts, no monthly fee, no named card network, no named issuer, and very thin public information on the company. If you are a business or an individual who already operates in stablecoins and is comfortable with that, the card is functional. If you are a first-time card user, the gaps are the reason to slow down and read the small print first.
The following table evaluates Wasabi’s performance by key criterion.
| Criterion | Score | Why it lands there |
|---|---|---|
| Who can get it | 9 / 10 | Starting data says 200+ countries and regions, with a residence-based exclusion for “any prohibited or sanctioned jurisdiction” but no list on the pages. |
| Cost | 5 / 10 | The terms name the kinds of fees that exist (issuance, FX, cross-border, ATM, chargeback, replacement) but not the amounts; a monthly fee is not stated. |
| Top-up options | 6 / 10 | A “Spend with Stablecoin” path is described; the starting data points to USDT on TRC20 and BEP20, but the cards’ own pages do not state the supported coins or networks. |
| Reliability and complaints | 4 / 10 | Wasabi Ltd says it is “not bank or custodians”; the issuer and licences are not named; the only public Trustpilot review I could read is a one-star entry dated 8 July 2026 about high setup fees and card restrictions. |
| Everyday use | 8 / 10 | Virtual card with instant Apple Pay binding, physical card, ATM access worldwide; Google Pay is not stated. |
| Total | 6.4 / 10 |
Who the card suits: businesses and individuals who want a stablecoin-funded virtual and physical card and are comfortable verifying that the fee schedule in their account, not the marketing page, is what they will pay. Who it does not suit: anyone who needs the issuer, the network, the licence and the fee amounts to be public before they sign up.
Who can get the Wasabi card
According to the starting data, Wasabi is open in 200+ countries and regions. The terms do not list those countries, and they do not give a positive list. Instead, the rule is written the other way around: you must not be located in, or be a resident of, “any prohibited or sanctioned jurisdiction”. Because no list is on the public pages, the way this normally plays out is that you find out at signup whether your country is on the closed list — the application either lets you continue or it does not.
The terms also say you have to “successfully complete any required identity verification (KYC/KYB) procedures”. For an individual account that is the standard KYC bundle: government-issued ID, proof of address and a selfie check. For a business account the request is heavier — registration documents, beneficial-ownership information and a similar selfie step. The age requirement is not stated on the pages I read, and the level of KYC required at each tier is not stated either; a KYC guide article exists in the help centre but it is not the public landing page, so you have to go looking for it. The failure mode is real: if the checks fail or documents are not produced, Wasabi says the account may be suspended or terminated.
For everyday readers the practical question is whether your country is in or out. The short answer is that the card is open to a very large share of the world, that the closed list is a sanctions and policy list you cannot pre-read, and that KYC is mandatory. If your country is on the closed list, no signup screen will help you, and if you live in a country where a selfie video plus a utility bill is hard to produce, this is not the right product.
How to sign up for Wasabi
The signup path is not described step by step on the public pages, and a store listing was not found in the public app stores; the app is a web app at app.wasabicard.com. The practical shape of the flow, given what the terms say, is: create an account, complete KYC or KYB, then order a virtual card (the virtual card is described as supporting “instant binding” to Apple Pay) or a physical card.
What is not stated is just as important as what is. The card network (Visa or Mastercard) is not stated on the pages I read — the starting data points to Visa or Mastercard with a USD balance, but the cards’ own pages do not confirm this. The card’s settlement currency is not stated. The delivery time for a physical card is not stated. The only KYC guide is a help-centre article, not a public spec, so you cannot pre-check what documents you will need by country.
A small warning on order: the public Trustpilot review I read, dated 8 July 2026 and one star, complains that the provider is “aimed at businesses”, charges “high setup fees” in the “$15,000 and up” range, and that the cards are restricted. That is a single, unverified user report. It does not mean the card is not for individuals, but it does mean a first-time individual user should not assume the cheapest tier is open to them — the fee schedule is one of the things the public pages do not state, so it has to be checked in the app or on the order screen before any payment is made.
What the Wasabi card really costs
The honest answer to “what does Wasabi cost?” is: the kinds of fees are named, the amounts are not. The Wasabi terms list the fee types that exist — card issuance, foreign exchange, cross-border transactions, ATM withdrawals, chargeback handling and replacement cards — but no figures. A monthly fee is not stated. The site says currency conversion rates “may apply” but does not give a percentage. The site says you can “withdraw cash from millions of ATMs worldwide with competitive rates”, but does not state an ATM fee or an ATM allowance.
In real use, three everyday payments are where these gaps matter most.
A coffee in your home currency. The conversion is from stablecoin to fiat at the rate Wasabi applies at the moment of payment. Because that rate is not published and the conversion fee is not published, the only way to know what you actually pay is to look at the receipt in the app, or to send a small test payment first. If you fund in a non-USD stablecoin, the conversion path is two steps: stablecoin to USD, then USD to your local currency, with the second step subject to the FX fee the site does not quantify.
A coffee in a foreign currency. This is the cross-border path. The terms say cross-border transaction fees exist; the amount is unstated. On top of that, the merchant’s bank may treat a Wasabi-issued card as foreign (see the background section on BINs), and any extra merchant handling on a foreign-issued card — declined authorisations, holds, retries — lands on you.
An ATM withdrawal. The site says “competitive rates” and global ATM access, with no fee or allowance stated. Some cards in this category advertise a free monthly allowance, then charge a percentage plus a flat fee above it; without figures, the only way to compare is to make a small test withdrawal and read the app screen.
| Fee or limit | What the public pages say |
|---|---|
| Card issuance | Type of fee listed; amount not stated |
| Monthly fee | Not stated |
| Conversion | “Currency conversion rates may apply”; no figure |
| Foreign exchange / cross-border | Type of fee listed; amount not stated |
| ATM withdrawal | “Competitive rates”; fee and allowance not stated |
| Chargeback handling | Listed as a fee type; amount not stated |
| Replacement card | Listed as a fee type; amount not stated |
| Virtual card limit | “Up to 10,000 USD” |
| Physical card limit | “Flexible spending limits”; no value in the terms |
| Supported sending currencies | “7+ currencies” mentioned in site copy; card currency not stated |
If a fee schedule is the reason you are choosing a card, this row is the part of the review to pause on. The card may well be competitive, but “competitive” is not the same as a published number, and the difference matters when you are comparing two cards in a spreadsheet.
How to top up the Wasabi card
Top-ups are stablecoin-only. The product name on the pages is “Spend with Stablecoin”, and that phrase is also the limit of what the cards’ own pages say: no coin list, no network list, no minimum, no fee. The starting data points to USDT on TRC20 and BEP20 as the supported pairs, but the cards’ own pages do not confirm this, and the public material does not name a fallback coin, an alternative stablecoin, or a way to top up from a bank account.
The default for a user reading only the public site is therefore: the only funding method that is confirmed is stablecoin, the only coins and networks that are confirmed are the ones the starting data lists, and the only way to know for sure is to look inside the app once you are signed up. The general background on stablecoins is worth keeping in mind here: blockchain transfers are irreversible, and a deposit on a network the card provider does not support, or to an address of another network, can be lost or need manual support recovery with no guarantee. That is not a Wasabi-specific point; it is a category point, and it is the reason most card providers spend a lot of effort on a deposit screen that shows the supported network, the minimum amount, and an explicit warning if the address does not match. The depth of that screen on Wasabi is not stated.
A second thing to notice is that terms say “Funds may be temporarily withheld pending investigation”. For a stablecoin-funded card that is the standard anti-fraud line, but combined with the fact that the card provider says it is “not bank or custodians”, the practical effect is that you are trusting a non-bank to hold your balance during any freeze period. If your top-up is large, that trust is the risk you are pricing in.
Paying with Wasabi in everyday life
The card is designed to behave like a normal payment card once the balance is loaded. There is a virtual card with “instant binding” to Apple Pay — that is the path the cards’ own pages describe — and a physical card that can also be added to Apple Pay. Google Pay is not stated, and the blocked merchant categories (gambling, for example) are not stated either.
The web app is at app.wasabicard.com, which is unusual for a card product: most cards in this category live in a mobile app you download from a store. There is no store listing I could find in the public stores, so the only confirmed entry point is the web app. Ratings and reviews of that web app are not part of the public material, so there is no way to benchmark it against a typical mobile-app card.
Two product features are listed on the public pages. The first is a “Cashback” product — “Get Cashback on your card purchases” — with a rate and conditions that are not stated. The second is a referral programme. Both are real products, and both are unquantified on the public pages, so they belong in the “check in your account before you rely on them” bucket.
Disputes work in a standard way for the category: refunds may take up to 30 business days to be reflected, chargebacks need supporting documentation and recovery is not guaranteed. That is the card’s own wording, and it is the right place to set expectations: a chargeback on this card is not a guaranteed refund, it is a process that may or may not end in your favour.
What can go wrong with Wasabi
A few risks are specific to this card, and a few are risks that come with the category and apply here as well.
The company behind the card is Wasabi Ltd. It describes itself as a financial technology company and says it is “not bank or custodians”. OTC and card issuing are described as “provided in partnership with licensed institutions or banks”. The licensed institution and the licence itself are not named on the public pages. There is a “Licenses & Compliance” page at /en/licenses-compliance, but the existence of a page is not the same as a licence number on it. For a card product that holds your balance and converts your stablecoin, the unstated issuer is the single largest gap in the public material.
Trustpilot data is thin: a TrustScore of 3 from a single review, dated 8 July 2026, one star, complaining about high setup fees and heavy card restrictions. No Reddit threads were identified. A single review is not a verdict, but it is the only verified public signal of customer experience that I could read, and the complaint direction (high setup fees, restricted cards) is consistent with the gap between what the marketing page says and what the public fee schedule does not say.
Security on the product side is described as “Security by Design”: the ability to create, delete and isolate funds per card, and custody described as non-custodial. Two-factor authentication is not stated. Support channels are live chat, email with a stated 24-hour response window, phone, and a Telegram channel at t.me/wasabicard_official. Hours and languages for support are not stated.
The category-level risks, which apply here as well, are worth keeping in mind. Crypto transfers are typically irreversible, and a stolen private key has no built-in recovery. Custodial platforms have a record of failures, and even non-custodial cards depend on a custodian-style card programme for the fiat balance and the merchant settlement. A card programme can be wound down by its issuer or its network, and a programme closure typically means a notice period, then no more spending or loading, then a window to withdraw the remaining balance. If the Wasabi programme were wound down, the experience for a cardholder would be the same as for any other card in the category — important, not unique, and a reason not to keep a balance on the card that you cannot afford to wait out.
What to take instead of Wasabi
If the gaps above are the reason you are hesitating, the comparison that follows uses three cards from the same general category, each with a different shape of trade-off.
CardFlow is aimed at Nigeria — “Nigeria’s smartest fintech card platform” — and at “Nigerians and global users”, with no country list or exclusions stated. The product is a virtual USD Mastercard created in 3 minutes. The site FAQ says creating a virtual card is free, with no monthly fee stated. Funding is from Bitcoin, USDT, ETH or a Naira bank transfer, with networks not stated. Rewards are not stated. The score is 4.9 out of 10, and the product is a fit for a user in or near Nigeria who wants a quick virtual USD card and is happy to fund from crypto or a Naira transfer.
HyperCard is a prepaid card with a USD or EUR balance. The official pages do not state a country list, but the App Store says the card works in “more than 176 countries” — that figure is acceptance, not eligibility, so it is the network side, not the signup side. The network is not stated on the App Store page, and the App Store page lists no fees. Funding is by depositing USDT, BTC or ETH in the app, converted to USD or EUR on the card; networks are not stated. Rewards are not stated. The score is 4.7 out of 10, and the product is a fit for a user who values a USD or EUR balance, a 176-country acceptance footprint, and a published presence in the app stores.
Card.fi is the heavier option in the comparison. The banner says cards ship to “200+ countries”; the terms bar residents of, or orders from, a country subject to sanctions that would prohibit the service. There are four products: Virtual Classic, Virtual Premium, physical Classic and Premium, plus a metal (stainless steel) option, and every physical order includes a virtual card. Cards are issued “under licence from the relevant card schemes” — the schemes themselves (Visa or Mastercard) are not named. The card currency is not stated. The one-time prices published on the public pages are Virtual Classic $49 and Virtual Premium $249, with no monthly, annual, inactivity or minimum-balance fee. The fee schedule is published: top-up fee 1.5% + $1.00 on Classic and 1% on Premium; FX fee 3.5% on Classic and 2.5% on Premium; conversion fee shown before each top-up in the terms. Funding is 32 coins across 5 networks (Ethereum, Base, BNB Chain, Solana, Kaanch), including USDT, USDC, ETH, BNB, SOL and KAANCH, with a deposit address per card and a conversion at the market rate on arrival; the wrong chain risks permanent loss. Rewards are cashback on card spending only, with tiered rates from 0.8% (Classic, capped at 10 USDT a month) to 2% (Metal, capped at 250 USDT a month, 20,000 USDT), a 10% headline at coffee shops capped at 10 USDT a month, and “up to 18%” on Metal balances, variable. The score is 6.6 out of 10, and the product is a fit for a user who wants a published fee schedule, a published coin and network list, and a cashback ladder that is actually quantified.
In this row of the comparison, Wasabi’s “6.4 out of 10” sits between CardFlow and Card.fi. The honest read is that Wasabi’s score is a real product with public gaps, and Card.fi’s score is a real product with public numbers. The trade-off is between Wasabi’s lighter marketing page and Card.fi’s longer fee schedule. If you do not need the cashback ladder and you are happy to read the fee schedule inside the app, Wasabi is a reasonable choice. If you need the fee schedule on the public page before you commit, Card.fi is the closer fit.
Who I would recommend Wasabi to
The recommendation comes down to what you can verify in the app before you commit, not what the marketing page says.
I would recommend Wasabi to a business or individual who already operates in stablecoins, is comfortable with a non-bank counterparty, and is happy to confirm the fee schedule, the supported coins and networks, the card network, the card currency and the issuer inside the app before the first load. For that user the card is functional: virtual card with instant Apple Pay binding, physical card, ATM access worldwide, a stablecoin loading flow and a web app.
I would not recommend Wasabi to a first-time card user who needs the fee schedule, the issuer, the licence and the card network to be on the public page before they sign up. The score for cost (5 out of 10) and reliability (4 out of 10) reflects exactly that gap, and the gap is the part of the product that has to be closed before the recommendation changes.
A short checklist for the user who is still deciding: confirm the card network inside the app; confirm the card’s settlement currency; confirm the published fee schedule against a small test payment; confirm the supported top-up coins and networks; confirm the issuer and the licence; and confirm that the Cashback rate, if it is part of your decision, is the rate you are seeing in your account and not a marketing figure.
Frequently asked questions
What is the Wasabi card?
The Wasabi card is a stablecoin-funded payment card issued by Wasabi Ltd, available as a virtual card and a physical card. You load it from a stablecoin balance, the card converts to fiat at the moment of payment, and a virtual or physical card is what you hand to a merchant. The company says it is “not bank or custodians” and that card issuing is “provided in partnership with licensed institutions or banks”.
How does the Wasabi card work?
You sign up, complete KYC or KYB, order a virtual or physical card, top up in stablecoin, and pay. The virtual card supports instant binding to Apple Pay; the physical card can be added to Apple Pay; Google Pay is not stated. The card network and the card’s settlement currency are not stated on the public pages.
Is Wasabi a bank?
No. Wasabi describes itself as a financial technology company and says it is “not bank or custodians”. OTC and card issuing are described as “provided in partnership with licensed institutions or banks”, but the licensed institution and the licence itself are not named on the public pages.
Who owns Wasabi?
The company behind the card is Wasabi Ltd. The ownership, the issuer, and the licence are not stated on the public pages, although a “Licenses & Compliance” page exists at /en/licenses-compliance.
Is the Wasabi card available in my country?
The starting data says 200+ countries and regions, with no list on the pages. The terms bar users in, or residents of, “any prohibited or sanctioned jurisdiction”, and the closed list is not published. The practical way to find out is at signup: the application either lets you continue or it does not.
How do I get a Wasabi card?
The app is a web app at app.wasabicard.com; no store listing was found. The flow, given the terms, is: create an account, complete KYC or KYB, then order a virtual card or a physical card. The exact steps, the delivery time for a physical card, and the per-country document list are not stated.
Does the Wasabi card require KYC?
Yes. The terms say users must “successfully complete any required identity verification (KYC/KYB) procedures”, and that may include government-issued ID, proof of address, selfie verification, registration documents and beneficial-ownership information for a business. Age is not stated, and the level of KYC at each tier is not stated.
How do I top up the Wasabi card?
The product is “Spend with Stablecoin”. The cards’ own pages do not state the supported coins or networks; the starting data points to USDT on TRC20 and BEP20. The minimum, the fee, and the on-chain confirmation time are not stated. Transfers are irreversible, and a deposit on a network the card provider does not support, or to an address of another network, can be lost or need manual support recovery with no guarantee.
Is the Wasabi card free?
The terms name the kinds of fees that exist (issuance, FX, cross-border, ATM, chargeback, replacement) but not the amounts. A monthly fee is not stated. The site says currency conversion rates “may apply” and that ATM access is at “competitive rates”, without a number for either. The Trustpilot review dated 8 July 2026 mentions “high setup fees” in the “$15,000 and up” range; that is a single, unverified user report, but it is a reminder that the cheapest tier is not guaranteed to be open to a first-time individual user.
Is the Wasabi card safe to use?
The card is built around standard category safeguards — Apple Pay tokenisation, the ability to create, delete and isolate funds per card, custody described as non-custodial, and support channels including live chat, email, phone and a Telegram channel. Two-factor authentication is not stated. The category-level risk that applies here is that a card programme can be wound down by its issuer or its network, and a programme closure typically means a notice period, then no more spending or loading, then a window to withdraw the remaining balance.
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