A virtual and a physical card from one crypto wallet — with a 23-country shut list and an unnamed issuing bank

Updated October 2026

Licensed

Available in US

Fast payouts

18+ Only

MP looks like a straight answer to a problem a lot of people have: you want a card that spends normally in shops and online, and the ordinary route to one — a local bank account that will open for you — is not there. MP offers a Visa from inside a crypto wallet, in two forms: a virtual one you create in the app, and a physical one posted to you. That is genuinely more than most products in this category offer, and it is why I scored it 7.1 out of 10 rather than lower.

But this is a young product from a young company, and the gaps in what is published are not small gaps. The issuing bank is not named. The company lists registrations in three jurisdictions and describes itself as a fintech, not a bank. One of its three cards was retired in September 2026. The limits page prints three columns of numbers without saying which column belongs to which card. The fee page does not list what a top-up costs. And when I looked for reviews by actual users, I found none — which is not a warning sign by itself, but it does mean you are not walking in with other people’s scar tissue.

The reader I have in mind here is someone who cannot simply open a bank account where they live, or who has decided that a card funded from crypto suits them better than a current account. If that is you, keep reading — I have tried to be exact about what MP publishes and what it does not. If you have a working bank card and a working bank account, this is a worse deal than your bank for almost every purchase, and I will say where in a moment.

The conditions described here are current as of October 28, 2026.

Verdict: 7.1 out of 10, right for a specific person only

MP scored 7.1 / 10 overall. That is not a rounding of “decent” — it is a card that is strong on the everyday mechanics of spending and weak on everything around them: access, transparency and who is actually behind it. Here is how the score breaks down, criterion by criterion.

The single highest mark is the one you would expect to be lowest if the card were risky: everyday use. A 9 here means that when the card works, it works like a card — Apple Pay on your phone, Google Pay on Android, the physical Visa in a machine. Card payments are the easy part of this category and MP has done that part well.

The lowest mark is cost, at 5. Not because of the 0.80% transaction fee, which is unremarkable, but because of what sits around it: 100 USDT just to open the physical card, 2% to take cash out with a 2% minimum of $1 that makes small withdrawals expensive, and a cross-border rate that MP passes through without stating what it will be in your country. The card’s own page claims roughly 1% all-in for US-dollar spending and 1.8% to 2.2% for spending in other currencies. Those are the numbers to hold in your head, and they are MP’s own arithmetic, not mine.

Who this suits: someone who already lives with crypto as the normal way to hold money, who wants both a virtual and a physical card from one wallet, and who cannot or will not open a domestic bank account. Who it does not suit: anyone who wants to be sure exactly which legal entity is their creditor, anyone who needs a card in a market MP has closed, and anyone who spends most of their money outside the dollar.

There is also a category-level point that colours everything below. Visa and Mastercard do not issue crypto cards to consumers themselves — they license issuers, and they can suspend a programme. In November 2022 Visa said it had “terminated our global agreements with FTX”, and the FTX US debit card programme was wound down by its issuer. The card brand on your plastic is not the same as the company you hold the balance with, and only one of them answers to you.

Who will they give you the card to

They will not give it to everyone, and the list of exclusions is long enough that you should check before you install anything. Twenty-three countries are “unavailable due to regulatory compliance”: Afghanistan, Belarus, Central African Republic, Cuba, DR Congo, Dominican Republic, Guinea-Bissau, Haiti, Iran, Iraq, Lebanon, Libya, Mali, Myanmar, North Korea, Russia, Somalia, South Sudan, Sudan, Syria, Venezuela, Yemen, Zimbabwe. Russia and Belarus are both on that list.

On top of that, identity verification cannot be completed in parts of Ukraine — Crimea, Donetsk, Luhansk, Zaporizhzhia, Kherson — nor in Abkhazia, South Ossetia, Northern Cyprus, Somaliland, Transnistria or Nagorno-Karabakh.

How eligibility is decided matters as much as the list. MP says it is “based mainly on your document’s place of issue and your registered residential address”. So it is not simply where you are standing today: two people in the same city can get different answers depending on which passport they hold. And the page states plainly that you cannot switch documents to get around a regional restriction — if your only identity document is from a restricted place, a different, more convenient document will not unlock it.

One point of background worth having, because it explains why residency and citizenship get treated separately. Nationality is recorded and screened apart from residence, because sanctions screening and issuer risk policy are often applied to citizenship and country of birth as well as to the country of address. A card that arrives in your inbox in a country with tight rules still carries the risk profile of the document that got you through the door.

How to get it

The verification is KYC level 1, and the requirements are ordinary: age 18 or over, basic personal information, a government-issued ID (passport or national ID), and a selfie liveness check. One identity can verify only one account — no second account on the same face or the same passport. Your document must not be expired, and the requirement is phrased as an “expiration date more than three months away”. Proof of address is not stated.

The route through the app is short: install the app, register, go to Assets and tap Activate Now, fund the wallet, choose a card type and buy it.

There are two account levels, and they matter more than they first appear. A Registered account is a phone-number sign-up: it can do transfers capped at 1,000 USD a day with a 10,000 USD total, and it comes with no card at all. KYC1 is the level that unlocks a card application, gives unlimited transfers, and allows withdrawals up to 200,000 USD a day. Processing time for verification is not stated.

Rejection reasons are listed, and the list is worth reading before you try, because most of them are avoidable in one sitting: under 18, an unsupported country, a document that is blurry, cropped, printed or expired, a face mismatch or another person in the frame, a second account on the same identity, or a mismatch between your name, date of birth and document number.

On delivery of the physical card, the honest answer is that MP does not commit to a date on the pages I read: it says delivery time and region are “subject to the announcement on the Boundless Card application details page”, and postage, if any, is set there too. Replacement is 5 dollars the first time and 10 dollars each time after, with at least 31 days between reissues.

Fees: what it really costs, line by line

The headline numbers are attractive and the small print is where this card lives or dies. Here is everything MP publishes about money, in one place.

Three everyday payments, to make the percentages concrete. A $40 grocery shop paid in dollars. The 0.80% transaction fee is 32 cents; there is no FX layer if you are spending dollars; the total fee is under a dollar and MP’s own arithmetic puts the all-in figure near 1%. A 30 euro subscription. The 0.80% still applies, and now the issuer’s pass-through FX sits on top, which MP puts in the 1.8% to 2.2% band for non-dollar spending. A 75 cent coffee. The 0.80% works out to well under a cent, so the 15-cent small-value fee is what you actually pay — and at that price the fee is a fifth of the purchase.

That third example is the one to sit with. Below a dollar, MP’s small-value charge stops being a rounding error. It also applies at exactly $1 or less, so a 99-cent item and a 1-cent item cost the same in fees.

The ATM is the place where this card gets expensive. Two percent with a one-dollar floor means withdrawing 20 dollars costs 1.40 in fees, and withdrawing 5 dollars still costs 1.00. Boundless cash is unavailable in mainland China and prohibited in Singapore. Cloud, being virtual, has no ATM at all.

One more number the fee page does not give you: MP does not list an issuance or top-up fee, and the minimum top-up is not stated. That is not a small omission — it is the question you cannot answer from the public pages.

On limits, the published table shows three sets of figures without naming which card each belongs to, so you will have to infer: a single transaction of $100,000 / $20,000 / $100,000; daily spending of $250,000 / $1,000,000 / $250,000; monthly of $1,000,000 / $5,000,000 / $1,000,000; and annual of $2,000,000 / $10,000,000 / $2,000,000. The second set also carries a 100-transactions-per-day cap. Read the second column as the tight one and check with support before you rely on a figure. Unusually large ceilings on a card that costs 100 USDT to open should not flatter you into thinking the provider is comfortable at that scale.

Top up: how the money gets in

Top-up starts with a transfer, and the transfer is the part that needs care. You deposit USDC or USDT into the MP Wallet — which MP describes as non-custodial — either through Binance Pay or on-chain, and then move it from the wallet to the card.

The phrase “non-custodial” is the single most useful word on the card’s pages, and it deserves unpacking. Control of crypto belongs to whoever holds the private key. With a custodial wallet the provider holds the credentials and you must trust them completely; a seed phrase — typically 12 to 24 words — is an unencrypted form of that key, and anyone who obtains it can restore the wallet and spend the funds. Transfers are typically irreversible, and there is no built-in recovery, because the network cannot freeze or return what has left. MP also says card funds are “securely backed within a regulated trust framework”. Both things can be true: your keys under your control, the card balance held inside someone else’s regulated structure.

Where the published pages thin out is the part that matters most in practice. The specific networks are not listed. So the practical sequence is: send USDT on the network you already hold it on, and if that is not the network the card expects, the transfer can be lost or need manual support recovery with no guarantee. USDC and USDT do not live on one chain each — USDT has been issued on Ethereum, Tron, Solana, Polygon, Avalanche and others, while Circle stopped supporting USDC on Tron in February 2024, so “USDC over TRC20” is not a native option at all. Confirm the network in the app before you press send, not after.

Two more details. The online withdrawal fee is 2.1 USDT per transaction, plus 0.1% on same-day withdrawals above 5,000 USDT — so if you need to move money out to a bank rather than onto the card, that is your number, and there is a help article on bank transfers and withdrawal to a bank that I did not read. And what happens to a balance left in the account when you close it is not stated.

Paying with it every day

Here is the part MP does best, and it deserves a straight 9.

• Two cards from one wallet. Cloud is virtual and Boundless is physical. Both are billed in USD. Boundless is a Visa with BIN 45659910; the retired Flash was a virtual Visa with BIN 40433705.
• Apple Pay and Google Pay on both cards, with Alipay and WeChat Pay also linkable on Cloud. Cloud’s own page says it “supports linking with Alipay, WeChat Pay, Google Pay, and Apple Pay”.
• ATM access on the physical card only, with the limits and exclusions listed above.
• Limits you set yourself, managed in the app, plus the option to freeze or block the card in the app.
• The MPChat app on iOS and Android. Store ratings were not obtainable.

Not stated, and worth knowing before you plan a month around them: blocked merchant categories. Many issuers in this category block gambling (MCC 7995) and similar categories by policy rather than by law, and the blocked list varies by issuer. MP does not publish one. If a category matters to you, ask.

The same applies to rewards. The page mentions a “rewards balance” that cannot be used to pay reissue fees, but no rate is published — so there is no cashback here to model, and I would treat any figure you hear as unconfirmed.

Disputes, which you will hopefully never need: $35 per case, which is steep enough that you should think before filing one for a small sum. Refunds are free. Reversals cost $0.80 once the reversal rate hits 15% or more, and a declined payment costs $0.80 with the first five each month waived. Time frames for all of these are not stated.

Two mechanics worth knowing, from the wider category. A declined authorisation can leave a hold on your funds that persists for up to seven days — a real cash-flow issue if you are living off the balance. And in the US, Visa Secure and Mastercard’s Identity Check are the 3-D Secure brands: the issuer assesses the risk on an online payment and either approves it frictionlessly or challenges you with a one-time code or biometric. Whether MP enables these is not something the pages state.

What can go wrong

This is the section where I have the least good to say, and I would rather be blunt here than reassuring.

Nobody is named as the issuer. MP says its cards are “issued in Singapore” and gives a BIN, but does not name the issuing bank. That matters more than it sounds. Visa and Mastercard do not issue these cards themselves — they license issuers to do so. The crypto brand is often only a programme manager or a front end. If you have a dispute or a frozen balance, the entity that owes you money is the issuer, and MP will not tell you who it is.

The company behind it is a fintech, and says so. MP Network Inc, 8 The Green, Suite B, Dover, DE 19901, USA, describes itself as “a financial technology company, not a bank”, and the brand you meet is MPChat. Its help centre lists a US MSB registration, BSP and DASP licences in El Salvador, and a Hong Kong TCSP licence; the issuing authorities behind those are not named, and the statement is dated 13 August 2026.

One card is already gone. The Flash Card was permanently retired on 30 September 2026. Issued cards were converted to Cloud Cards and balances moved to Total Assets. This is the whole lesson of the category in miniature: a card programme can be switched off under you, with a notice, a stop on spending and loading, and a request to withdraw what is left.

There are no user reviews to read. I searched for reviews of MPChat on Trustpilot and Reddit and found none for this product. That is not evidence of a problem — it is evidence that you have no external signal, and you are going in on the company’s own word alone.

A note on what “regulated trust framework” buys you. In the EU, electronic money institutions must safeguard customer funds, either by segregating them in dedicated accounts or insuring them — and those funds are not the same as bank deposits, and may not sit under a deposit guarantee scheme. Card funds held inside a trust framework are safer than a crypto hot wallet and less protected than a bank current account. Know which one you are choosing.

Tax is yours to work out, and it can bite on every tap. I am not going to advise you here, only flag the mechanism. The IRS treats digital assets as property, so exchanging them for goods, services or dollars generally produces a taxable gain or loss, measured in the local fiat currency at fair market value on the date of the transaction. Each card payment funded from crypto may therefore be a separate disposal. If you spend frequently, that is a record-keeping habit, not an occasional chore. What applies where you live is a question for a professional, not for a review page.

Support hours are not published. There is in-app support under Me > Customer Support, an X account, [email protected] and a Help Centre at help.mp.net in English, Simplified and Traditional Chinese. No hours are given. If you are in a restricted territory and need an answer about your specific case, plan for that.

What to take instead

I want to be careful with this section. Every one of these is a real alternative that a reader might suit better, and none is a recommendation to switch. I am comparing structures, not telling you what to do.

MetaMask — 7.1 / 10. The same score as MP, and for a different reason. Sign-up is open in 45 listed countries and territories; elsewhere you join a waitlist, and proof of residency is required. It is explicit that ineligible regions limit sign-ups, not spending — which is a cleaner rule than MP’s document-and-address test. US and UK sign-ups were temporarily closed per the FAQ; citizenship rules are not stated. The card is a Mastercard, virtual first and instant, with a Metal card pre-orderable after approval, one per user, issued by Monovate with Crypto Life as card provider. Virtual is free with no annual or maintenance fee; Metal is $199 a year. Fees are a “minimal fee for each transaction” with the amount not published on the pages read, no additional MetaMask fees, and no foreign transaction fee — the Mastercard rate applies. It spends directly from the connected wallet on Linea, Base, Monad and Solana, with mUSD, wETH, EURe, GBPe, USDC and USDT named. Cashback in mUSD is 1% on Virtual; Metal’s headline is 3% with a footnote capping it at 3% on the first $10,000 spent and 1% after that. Solana-only wallets cannot withdraw credit.

KAST — 6.1 / 10. The transparency outlier in this group. It shows you the country list at KYC and says plainly that if your country is not listed, KAST is not available there — no document-and-address inference. It also names citizenship as a second gate: living in a supported country with an ID from a restricted region may still fail KYC, and only your own ID counts. Membership is tiered by price — Standard 0, Premium 1,000 USD a year, Private 10,000 USD a year, billed annually upfront. Cards run from Visa Platinum through Visa Infinite metal and gold, with up to 10 per user. Fees are unusually clean: stablecoin top-up 0%, USD card spend 0%, transaction fee 0%, Apple and Google Pay 0%, and a stated non-USD FX fee of 0.5% to 1.75% depending on where you live, where the transaction happens and which programme. Non-USD transactions under 25 USD cost 0.10 USD. A declined transaction for insufficient balance costs 0.50 USD. Cashback is tiered at 1.5%, 2% and 3% within monthly caps. One internal conflict to note: the Terms say acceptable tokens are “currently USDT and USDC” while the app also lists PYUSD and RLUSD.

TokenPocket — 5.8 / 10. The weakest of the four here, and the least transparent about money. Visa debit for a list of European countries including Germany, France, Spain and Switzerland; Mastercard debit for Australia, Canada, Hong Kong, Japan, Taiwan, New Zealand, Singapore, South Korea and the UK, with the Americas “planned for Q2 2025” — a date now in the past, so treat the rollout as unconfirmed. Cards run on Arbitrum and are virtual, with balances in EUR24 and USD24. The NFT creation fee is partly covered by TokenPocket and you pay “a small portion”, amount unstated, and it says there are no other fees. But a 1% fee applies on depositing cryptocurrency into the card, refunded later via rewards or reduced transaction fees — so the real cost is deferred rather than absent.

One pattern jumps out of that table. The two products that scored lowest are the two that are least willing to publish a full price list, and the one that publishes every fee in a table — KAST, at 6.1 — is easier to plan around than the one that scored 7.1. That is not a reason to prefer lower costs over better daily use, but if you are the kind of person who wants to know the price before you commit, KAST is built for you and MP is not.

Who I would recommend it to

I would recommend MP to exactly one kind of person, and I would steer everyone else toward something with a published fee table or a named bank behind it.

That person lives somewhere MP is open, holds crypto as their normal working balance, cannot or will not open a local bank account, and wants a virtual card for online spending plus a physical one for the places where a phone will not do. They are comfortable with a non-custodial wallet, they know which network their tokens are on, and they have accepted that MP publishes no top-up fee and no top-up minimum — and have asked support anyway.

I would not recommend it if your priority is knowing exactly which entity holds your balance, because MP does not name its issuing bank. I would not recommend it if you need a card in Russia, Belarus or any of the other 23 closed countries, or if your only document is from a restricted territory. And I would think hard if you spend in a currency other than the dollar and want to predict the cost, because the FX rate is the issuer’s and MP will not tell you what it is.

The honest summary is this: MP does the easy half of this job unusually well and the hard half quietly. Spending is smooth, with virtual and physical, Apple Pay and Google Pay, an ATM where it makes sense. Access is hard, with 23 countries closed and eligibility decided by where your passport was issued. And trust is unresolved, with a fintech rather than a bank, an unnamed issuer, a licence list in three jurisdictions, one card already retired this year and no user reviews to check against. A 7.1 is what that mixture earns — genuinely useful, genuinely unfinished.

Frequently asked questions

What is MP card?

MP is a Visa payment card that spends from a crypto wallet rather than from a bank account. It comes in two forms: Cloud, a virtual card created inside the app, and Boundless, a physical Visa posted to you. You load USDC or USDT into the MP wallet and the card spends that balance. The company behind it is MP Network Inc, a US fintech that describes itself as “a financial technology company, not a bank”, and the app is called MPChat.

Is MP a bank, and who owns it?

No, MP is not a bank. Its registered address is 8 The Green, Suite B, Dover, DE 19901, USA, and it says outright that it is a fintech rather than a bank. It lists a US MSB registration, BSP and DASP licences in El Salvador, and a Hong Kong TCSP licence, with a compliance statement dated 13 August 2026. Its cards are described as issued in Singapore, but the issuing bank is not named, so you cannot tell from the public pages which entity would owe you money in a dispute.

How does MP card work?

You load crypto into a wallet and the card spends the resulting balance, much like a prepaid card rather than a debit card tied to a current account. Because the balance is stored rather than an account debited, the card cannot overdraw it. Payment rails are ordinary Visa rails, with the issuer converting or authorising as needed, and a 0.80% fee on each transaction plus whatever the issuer charges for cross-border use.

Which countries can I get an MP card in?

Twenty-three countries are closed outright, including Russia and Belarus, Iran, Iraq, Syria, Cuba, Venezuela, Sudan, Myanmar and North Korea. Verification also cannot be completed in parts of Ukraine, Abkhazia, South Ossetia, Northern Cyprus, Somaliland, Transnistria and Nagorno-Karabakh. Eligibility turns mainly on where your document was issued and your registered residential address, and MP says documents cannot be switched to get around a regional restriction.

Does the MP card require KYC?

Yes. You need to be 18 or over, give basic personal information, present a government-issued passport or national ID, and pass a selfie liveness check. One identity can verify only one account, the document must have an expiration date more than three months away, and proof of address is not stated. A Registered account with just a phone number gives no card; the card requires KYC1, which also allows withdrawals up to 200,000 USD a day.

How much does an MP card cost?

Cloud, the virtual card, costs 10 USDT. Boundless, the physical Visa, has a card opening or production fee of 100 USDT. There is no monthly fee. Crypto-to-fiat conversion is free, each transaction costs 0.80%, and there is a 0.15 fee on any transaction of $1 or less. ATM withdrawals on the physical card cost 2% with a $1 minimum, which means small cash withdrawals are expensive in percentage terms.

How do I top up an MP card?

You deposit USDC or USDT into the MP Wallet, which MP describes as non-custodial, either through Binance Pay or on-chain, then transfer from the wallet to the card. The pages I read do not list the supported networks, which is the detail to confirm before sending anything — a transfer on the wrong network can be lost or need manual support recovery with no guarantee. The withdrawal fee is 2.1 USDT per transaction plus 0.1% on same-day withdrawals above 5,000 USDT.

Can I add the MP card to Apple Wallet or Google Pay?

Yes. Boundless supports Apple Pay and Google Pay, and Cloud goes further, supporting Alipay, WeChat Pay, Google Pay and Apple Pay. This is the strongest part of the card: between the two cards you get both a virtual and a physical Visa, mobile wallets on each, and ATM access on the physical one. The card numbers are tokenised on your device rather than stored by the wallet provider.

Is the MP card safe, and what about the company?

The wallet is described as non-custodial, which means you hold the keys, and card funds are said to be “securely backed within a regulated trust framework”. Spending limits can be managed in the app and the card can be frozen there, though two-factor authentication was not confirmed on the pages I read. Against that: the issuer is unnamed, one card was retired on 30 September 2026, and a search for user reviews on Trustpilot and Reddit found none for this product, so you have no outside signal.

What can go wrong with an MP card?

The realistic scenarios are a programme change, a frozen balance, or a bank blocking the merchant. Flash Card was permanently retired on 30 September 2026 with balances moved to Total Assets, which is the pattern to expect when a card programme ends. A declined payment can leave a hold for up to seven days, some merchants refuse prepaid or foreign-issued cards, and the dispute fee is $35 per case, high enough to think twice over a small sum. Charges you make may also be taxable disposals where digital assets are taxed as property.

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