A crypto card that pays out like a prepaid card — and a 100 USDT price tag on the physical one

Updated October 2026

Licensed

Available in US

Fast payouts

18+ Only

MP is not a bank and does not want to be one. It is a fintech brand — MP Network Inc, trading as MPChat — that gives you a wallet, and lets you spend from that wallet with a card: a virtual Cloud Card or a physical Boundless Visa, billed in US dollars, paid for from crypto you already hold. If your problem is that a normal bank card is hard to get where you live, MP is built for exactly that situation. If your problem is that you want to earn rewards on your spending, MP will disappoint you, because the reward rate is not published and a “rewards balance” that cannot even cover a card reissue is mentioned on the fee page without further explanation.

I scored it 7.1 out of 10. The everyday-use number is the strongest thing about it; the cost of getting in is the weakest. Whether 100 USDT for a piece of plastic is reasonable depends entirely on how much you expect to spend and whether you need the ATM.

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

Verdict: 7.1 out of 10, built for people who cannot get a normal card

The card suits you if you need a virtual and a physical card from a single wallet, if you are comfortable holding stablecoins rather than money in a bank account, and if the 0.80% per transaction does not bother you. It does not suit you if you want cash back, if you want a card you can use at an ATM without a hefty withdrawal charge, or if you are in one of the 23 countries on the list — or hold a document from one.

One thing worth saying plainly at the start: the issuing bank is not named anywhere on the pages I read. The cards are described as issued in Singapore. That is not the same as knowing who stands behind your balance, and I would want an answer before I moved money I could not replace.

Will they give you the card

MP says 23 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.

Verification cannot be completed in parts of Ukraine either — Crimea, Donetsk, Luhansk, Zaporizhzhia, Kherson — nor in Abkhazia, South Ossetia, Northern Cyprus, Somaliland, Transnistria, or Nagorno-Karabakh.

How eligibility is decided is the part that matters if you are in a grey area. The page says it is “based mainly on your document’s place of issue and your registered residential address”. So you are assessed on two things at once, and either one can put you outside. The page also states that documents cannot be switched to get around a regional restriction — in other words, holding a passport from an open country while living in a closed one does not help you, and the reverse case is not a loophole either.

For the reader in Russia or Belarus: both are on the list, so the answer is no, and the reason given is regulatory compliance rather than anything about you personally. I am not going to dress that up or suggest a route around it. If you need a card, the honest options are an alternative further down this page that covers your country, or a bank that will open an account for you.

How to get it

The verification level decides what you can hold, and the card sits on top of it.

• Registered — a phone number and sign-up. No card. Transfers capped at 1,000 USD a day, 10,000 USD in total.
• KYC1 — government-issued ID (passport or national ID), basic personal details, a selfie liveness check, and 18 or over. This is the level that unlocks the card, unlimited transfers, and withdrawals up to 200,000 USD a day.

One identity verifies one account. The document must have an expiration date more than three months away, so an ID about to expire will fail. Proof of address is not stated as required, even though eligibility turns on your registered residential address — that is a gap, not a green light.

The stated order is: download the app, register, go to Assets > Activate Now, fund the wallet, choose your card type and buy it.

If verification fails, the listed reasons are: under 18, unsupported country, blurry, cropped, printed or expired documents, a face mismatch or another person in the frame, a second account on the same identity, and a mismatch between the name, date of birth or document number. Processing time is not stated, so do not plan around a same-day timeline.

Delivery of the physical card is handled loosely: 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 and reissue cost $5 the first time and $10 each time after, no closer than 31 days apart — which means a lost card twice in one month is not covered.

Fees: what it really costs

Here is where the 5 out of 10 comes from. The virtual card is cheap; the physical card is not, and the running fees add up.

The billing currency is USD on all three cards — Cloud, Boundless and the retired Flash.

Two worked examples, because percentages behave differently depending on where you are.

• A $30 grocery shop in the United States. Transaction fee 0.80% is $0.24. No conversion fee. No FX fee, because the shop charges dollars and so does the card. Total added: $0.24. The card’s own page puts this at roughly 1% all-in for USD spending.
• A €40 dinner in Berlin. The transaction fee is still 0.80% — €0.32 — and on top of that you get the issuer’s pass-through FX rate, which the card does not publish and which varies by country and region. The card’s own estimate for non-USD spending is 1.8% to 2.2% all-in. So budget something like €0.80 on a €40 dinner and understand that most of it is not MP’s doing.
• A $20 withdrawal from an ATM in Mexico City. Boundless only, 2% with a $1 minimum, so here the minimum does the work: $1. Then whatever your own bank’s cash withdrawal fee is, on top.

The ATM maths deserves a sentence of its own, because it is where the physical card’s 100 USDT price can be justified. The limits are $1,500 per transaction, $1,500 per day with a maximum of five withdrawals, and $15,000 a month. ATMs are unavailable in mainland China and prohibited in Singapore. The Cloud Card has no ATM at all.

What about the fee page and online withdrawals? Withdrawal costs 2.1 USDT per transaction, plus 0.1% on same-day withdrawals above 5,000 USDT. An issuance or top-up fee is not listed separately, and the minimum top-up is not stated.

Top up: how money gets in

The path is: get USDC or USDT into the MP wallet, then transfer it to the card. Three ways in, and one caution about all of them.

• Direct on-chain deposit into MP Wallet, which the card describes as non-custodial.
• Binance Pay, as an alternative route into the wallet.
• On-chain via Binance Pay to the card.

The networks are not listed on the pages I read. That is the caution. If you send USDC on a network the provider does not support, or to an address belonging to a different network, the transfer can be lost or need manual support recovery with no guarantee — blockchain transfers are irreversible. Stablecoins are not censorship-proof either: Tether says it disables tokens in wallets on the OFAC sanctions list and has frozen funds tied to illicit activity. Before your first transfer, confirm the network with support in the app, in writing, and send a small test amount first.

The minimum top-up is not stated. Neither is what happens to any balance left in the account if you close it — worth asking about before you ever fund it, because the retired Flash Card route shows this company does close things: existing cards were converted to Cloud Cards and balances moved to Total Assets.

Paying with it every day

This is the 9 out of 10, and it is where MP genuinely holds its own.

• Cloud Card — virtual only, no ATM, links with Alipay, WeChat Pay, Google Pay and Apple Pay. That is the widest wallet set of anything I looked at.
• Boundless Card — a physical VISA, BIN 45659910, with Apple Pay and Google Pay, and the ATM. The retired Flash Card was a virtual VISA, BIN 40433705.
• The Cloud Card’s network is not stated, which I find odd for a virtual card and would want clarified.

Both cards behave like prepaid cards: they spend a balance you have already loaded, so they cannot overdraw. In practice you are converting or transferring first, then spending what is there.

A few everyday realities that are not the card’s fault but will land on you:

• Merchants can look up the BIN and see which institution and country issued the card. A card issued in Singapore can therefore look “foreign” to a shop elsewhere, and some merchants decline prepaid or foreign BINs for that reason alone. Address verification is mainly offered in the US, Canada and the UK and is generally unavailable for foreign-issued cards, which can also cause declines.
• 3-D Secure is the identity check on online payments. Visa’s version is called Visa Secure. If you pay online a lot, expect it to work smoothly most days and challenge you occasionally.
• A declined authorisation can leave a hold on your funds for several days, typically up to seven.
• The blocked merchant categories are not stated. Many issuers block gambling (MCC 7995) by policy rather than law, and the list varies by issuer — so I cannot tell you what MP blocks. Ask.

The app is MPChat, on iOS and Android, and store ratings were not obtained. Spending limits you can manage in the app. Rewards are not stated: a “rewards balance” exists that cannot pay reissue fees, but no rate is published.

What can go wrong

The honest list, and it has two different kinds of risk in it: ordinary card risk, and risk specific to a young company with an unnamed issuer.

The company and its licences. MP Network Inc is at 8 The Green, Suite B, Dover, DE 19901, USA, and describes itself as “a financial technology company, not a bank”. Per its help centre it holds a US MSB registration, El Salvador BSP and DASP licences, and a Hong Kong TCSP licence — a statement dated 13 August 2026. The issuing authorities are not named, and the issuing bank is not named. The cards are “issued in Singapore”. That is a spread of jurisdictions, not a contradiction, but it means you are dealing with a front-end company whose banking partner you cannot name from the public pages.

A product has already been retired. The Flash Card is permanently retired as of 30 September 2026. Issued cards were converted to Cloud Cards and balances moved to Total Assets. Programme closures of this kind typically follow a pattern: a notice period, then loading and spending stop, then users are asked to withdraw what is left. One 2026 closure reported by a secondary source put new loads ending 8 July and spending stopping 8 August — that is a single unconfirmed source, so treat it as a pattern rather than a prediction.

No reviews. A search on 21 October 2026 for Trustpilot and Reddit discussion of MPChat MP card reviews turned up nothing. No complaints are documented because there is no visible record of them either way. That is not evidence of a good or bad track record; it is the absence of one.

Security. The wallet is described as non-custodial, and card funds are “securely backed within a regulated trust framework”. Two things I could not confirm on the pages I read: whether two-factor authentication is on by default, and whether the card freeze and block controls work as advertised in the app. If you do fund it, test the freeze button on a small balance before you need it.

Charges that bite. A dispute costs $35 per case, which is enough to make you think twice before disputing anything small. A reversal rate of 15% or more triggers a $0.80 fee, so the card is watching how often payments get reversed. Declined payments are $0.80 each after five free a month.

Help. In-app support under Me – Customer Support, X (Twitter), [email protected], and a Help Centre at help.mp.net in English, Simplified and Traditional Chinese. Hours are not stated — which matters if your money is stuck.

Taxes, generally and not as advice. In the US the IRS treats digital assets as property, so exchanging them for goods, services or dollars generally produces a taxable gain or loss, measured in local currency at fair market value on the date of the transaction. Each card payment funded from crypto can therefore be a separate disposal. Your own situation and jurisdiction may work differently; this is not advice, it is a prompt to ask someone who knows your country’s rules.

Alternatives worth comparing

Three other cards came through the same check. None of them scores higher than MP, and each fails in a different place — which is the point of the table.

MetaMask is the closest rival on paper: it also scores 7.1, it issues a Mastercard, it is free at the virtual tier, it has no foreign transaction fee, and it publishes real cash back — 1% on the virtual card, 3% up to $10,000 a year on Metal. It spends straight from a connected wallet on Linea, Base, Monad or Solana, with mUSD, wETH, EURe, GBPe, USDC and USDT named as tokens. What it costs you in exchange: proof of residency, sign-up closed in the US and UK at the time I checked, and a Metal card at $199 a year.

KAST is the one to watch if you want fees near zero and can afford the tier. Card spend in USD is 0%, the transaction fee is 0%, Apple and Google Pay are 0%, and non-USD FX runs 0.5% to 1.75%. What it costs is the entry price: Standard is free but its physical card carries 40 USD delivery; Premium is 1,000 USD a year and Private 10,000 USD a year, billed upfront with no monthly option. Cash back is 1.5% to 3% with monthly spending caps. Its eligibility wording is the sharpest warning on this page — living in a supported country while holding an ID from a restricted region can still fail KYC, and a VPN does not change that.

TokenPocket sits last. The 1% deposit fee is described as refunded later through rewards or reduced transaction fees, which is not the same as not paying it; Fiat24 cards are virtual with no physical card mentioned; and the Americas were described as planned rather than live. If you are in Singapore, Hong Kong, Japan, South Korea, Australia or Canada it covers you, and it is fine — just not the strongest of the four.

Who I would recommend it to

• Someone in a country MP does not exclude, who has a document from an open country and a registered address in an open country, and who wants a card that spends a stablecoin balance instead of a bank account.
• Someone who needs both halves of the setup from one place: a virtual card for online subscriptions and a physical Visa for the high street, plus the ATM when cash is unavoidable.
• Someone in mainland China or Singapore who will not be reaching for the ATM, and who uses Apple Pay or Google Pay rather than plastic.
• Someone patient with paperwork, who reads the KYC rejection list before trying and keeps documents far from expiry.

And I would steer these people elsewhere:

• Anyone in Russia, Belarus, or any of the 23 closed countries, or holding a document from one. Start with the alternatives above.
• Anyone whose priorities include cash back, because MP’s reward rate is not published.
• Anyone who intends to live on ATM withdrawals, because 2% with a $1 minimum eats a €20 withdrawal.
• Anyone who needs the deposits guarantee that comes with a bank deposit — these are not bank deposits and should not be treated as ones.
• Anyone who needs to know exactly which bank stands behind the card and cannot get a straight answer to that question.

Frequently asked questions

What is MP card?

MP is a card you spend from a crypto balance, offered by MPChat, a brand of MP Network Inc, a US fintech company that describes itself as a financial technology company rather than a bank. You load USDC or USDT into a wallet and spend from it with a virtual Cloud Card or a physical Boundless Visa, both billed in US dollars. It behaves like a prepaid card: the card spends a balance you have already loaded.

How does MP card work?

You convert or transfer stablecoins into the balance behind the card, then the card draws down that balance at each payment, so it cannot overdraw. Because it works like a prepaid instrument rather than a bank debit card, your funding sits with the card’s issuer — which MP does not name — rather than at your own bank. That is the structural difference from an ordinary card, and it is the one to think about before you load anything.

Is MP a bank?

No. MP Network Inc says outright that it is “a financial technology company, not a bank”. It lists a US MSB registration, El Salvador BSP and DASP licences, and a Hong Kong TCSP licence, and says the cards are issued in Singapore — but the issuing bank is not named on the pages I read. If you need deposit insurance or a named bank counterparty, this is not the product.

Who owns MP?

The operator is MP Network Inc, registered at 8 The Green, Suite B, Dover, DE 19901, USA, and the consumer brand is MPChat. The compliance and licences statement on the site is dated 13 August 2026. Licence registration is not the same as the name of the bank that issues your card, and MP does not publish that.

Does MP card require KYC?

Yes, for the card. Sign-up alone gives you a Registered account with no card and a 1,000 USD daily transfer cap. The card requires KYC1: 18 or over, a passport or national ID, a selfie liveness check, and a document whose expiration is more than three months away. One identity can verify only one account, and proof of address is not stated as required.

How much does MP cost?

The Cloud Card is 10 USDT and the Boundless physical Visa is 100 USDT, with no monthly fee — $0. After that it is 0.80% on every transaction, $0.15 on any transaction of $1 or less, and $0 for crypto-to-fiat conversion. Non-USD spending runs 1.8% to 2.2% all-in once the issuer’s FX rate is included, and ATM withdrawals on Boundless cost 2% with a $1 minimum.

How do I top up the MP card?

Deposit USDC or USDT into MP Wallet, which MP describes as non-custodial, either on-chain or through Binance Pay, then transfer to the card. The specific networks are not listed on the pages I read, and blockchain transfers are irreversible — so confirm the network with support before your first transfer and send a small test amount. The minimum top-up is not stated.

Can I use MP card in my country?

You can if your country is not among the 23 excluded — 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 — and if your document and registered address are both acceptable. Eligibility turns mainly on where your document was issued and where you live, and parts of Ukraine and several disputed territories cannot complete verification either.

Is MP card safe?

Treat it as a prepaid instrument from a young fintech company, not as a bank account. Reasonable safeguards are spending limits in the app, an instant freeze, and 3-D Secure online; I could not confirm from the pages I read whether two-factor authentication is on by default. There are also operational risks: no reviews on Trustpilot or Reddit surfaced in my search, and the Flash Card is already being retired as of 30 September 2026.

Is MP card worth it?

Worth it if you need a virtual and a physical card from one crypto wallet and you mostly spend in dollars, where the all-in cost is roughly 1%. Less worth it if you want cash back, since no reward rate is published, if you live on ATM cash, where 2% with a $1 minimum bites, or if the 100 USDT physical card fee sits uneasily against how much you will actually spend.

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