A well-built crypto card with a paper trail you will have to assemble yourself

Updated October 2026

Licensed

Available in US

Fast payouts

18+ Only

MP gives you something most people in this corner of the market do not: a virtual card and a physical card from one wallet, with a free monthly fee and no charge for turning crypto into dollars. That combination is real, and for the person it is aimed at it works. But the same review that turned up the pricing also turned up an unnamed issuing bank, an unnamed card network on one of the cards, a withdrawn product line, no user reviews anywhere I could find, and no published answer to a question as basic as which networks you can send your stablecoin over. I scored it 7.1 out of 10. That is a good card attached to a thin file, and the difference matters more than the score.

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

The score, criterion by criterion

Read that table as a shape rather than an average. The bottom two rows are the ones that should decide it for you. If your money is going to sit in this wallet for months, “reliability and complaints” at 7 with no reviews and no named issuer is a thinner answer than the number suggests. If you are using the card this month to pay for groceries and a metro ticket, “everyday use” at 9 is doing most of the work.

Who it suits. You already hold USDC or USDT, you want one wallet to give you both a card you never have to hold and a card that arrives in the post, you do not mind reading the fee page carefully before each payment, and you are comfortable keeping your own keys. You want the monthly fee to be zero, and you would rather have no cashback at all than a cashback rate the company has not published.

Who it does not suit. You need a named bank you can complain to, or a card whose settlement you fully understand. You want cashback, because MP mentions a rewards balance but does not publish a rate. You want to know exactly which chain to send your deposit over before you send it. You live in one of the 23 closed countries, or hold a document from one. And if you are the sort of person who needs the card to work in every shop on the first try, a card whose BIN sits outside your billing country may get declined more often than a domestic one — I will come back to that.

Will they give you the card?

They will not give it to everyone, and the restriction is not about where you pay — it is about who you are on paper.

Twenty-three countries are listed as “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 and Zimbabwe. KYC also cannot be completed in parts of Ukraine — Crimea, Donetsk, Luhansk, Zaporizhzhia and Kherson — nor in Abkhazia, South Ossetia, Northern Cyprus, Somaliland, Transnistria or Nagorno-Karabakh. Russia and Belarus are both on the first list.

The stated test is “based mainly on your document’s place of issue and your registered residential address”. Two things follow. First, nationality and residence are treated as separate questions, which is ordinary in this industry: sanctions screening is applied to citizenship and country of birth as well as to the country of your address, so a supported address with an unsupported passport is a different case from the reverse. Second, the page says documents cannot be switched to get around a regional restriction — you are expected to use your own document. I am not going to explain ways around that, and I would be suspicious of anyone who did; a card that depends on a workaround is a card that gets closed when the provider notices.

One thing the public pages do not say: whether proof of address is required. The KYC checklist does not list it, so I will not assume it is either way. If you are someone whose registered address and document country differ, that omission is worth asking support directly before you start, because it is the kind of thing that turns into a rejected application.

How to get it

KYC1 is the level that matters, because that is the level at which you can hold a card. It asks for:

• Age 18 or over.
• Basic personal information.
• A government-issued ID — passport or national ID.
• A selfie with a liveness check.

The document must not be expired, with an “expiration date more than three months away” required. One identity can verify only one account, so a second account from the same person is refused. The app also lists the rejection reasons in plain terms: under 18, an unsupported country, blurry or cropped or printed or expired documents, a face mismatch or another person in the frame, a second account on the same identity, and a name, date or number that does not match.

The sequence the card describes is: download the app, register, go to Assets > Activate Now, fund the wallet, choose the card type and buy. Nothing about proof of address is mentioned anywhere in that list.

There are two account tiers, and the difference is bigger than it first appears. Registered is phone sign-up only: no card, transfers capped at 1,000 USD a day and 10,000 USD in total. KYC1 adds the card, unlimited transfers, and withdrawals up to 200,000 USD a day. So you cannot buy a card at the Registered tier — the card belongs to KYC1.

The card choices themselves:

On delivery, the Boundless page 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. That is honest but unhelpful as a planning tool: you will not learn the wait before you are in the app. Reissue is $5 the first time and $10 each time after, with at least 31 days between reissues.

The Flash Card line deserves a note, because retirement is normal and how it was handled is not a warning on its own: the card was permanently retired on 30 September 2026, existing cards were converted to Cloud Cards, and balances moved to Total Assets. What I would watch is whether you get the same clarity if you are holding a balance when something changes — the pages do not say what happens to a balance at account closure, and there is a help article on bank transfers and withdrawal to a bank that I did not read.

What it really costs: Fees

The headline numbers are good. The details are where you have to be careful, because the cost of a MP payment depends on three separate things: what the card charges, what the issuer charges, and what the currency does.

The card’s own summary is roughly 1% all-in for spending in dollars and 1.8%–2.2% for spending in other currencies. That is a fair way to hold it in your head, and it is worth understanding why the two numbers differ so much. The 0.80% transaction fee is MP’s. The extra on non-dollar spending is the issuer’s currency conversion passed through at its own rate, and the page does not fix that rate — it varies by country and region.

Three everyday payments, to make it concrete:

Coffee at $4.50, paid in dollars. The 0.80% transaction fee is about 4 cents. Nothing else applies, because the billing currency is USD. Roughly $4.54. The card also says it applies a $0.15 small-value fee per transaction of $1 or less — that is a floor for tiny payments, not a charge on this one.

A $30 subscription billed in euros. Same 0.80%, about 24 cents, plus the issuer’s conversion spread. The card puts the all-in at 1.8%–2.2% for non-USD spending, so somewhere around 54 to 66 cents, and the exact figure depends on the issuer’s rate that day. This is the line that will matter if you travel or buy from a non-dollar merchant, and it is the one number you cannot check in advance.

Withdrawing $200 from a Boundless ATM. 2% is $4, and that clears the $1 minimum comfortably. Against the per-day cap of $1,500 and five withdrawals, this is the cheapest realistic use of the ATM — but note it exists only on the physical card, and that mainland China is excluded and Singapore is prohibited outright.

Two charges you will not see at the till. The declined fee of $0.80 applies to a transaction that does not go through for want of balance; the first five a month are waived, which is a small mercy in a month when a subscription tries to take money you already moved. And the reversal fee appears once your reversal rate hits 15%, which reads as a signal that heavy reversals are treated as an abuse pattern rather than as bad luck.

Limits, since they decide whether the card is a daily tool or an occasional one. The published table gives three sets, and the card names are my inference from the ordering rather than something the pages spell out: single transaction $100,000 / $20,000 / $100,000; daily spending $250,000 / $1,000,000 / $250,000; monthly $1,000,000 / $5,000,000 / $1,000,000; annual $2,000,000 / $10,000,000 / $2,000,000, with the second set also allowing 100 transactions a day. The middle set has a low single-transaction cap and by far the highest daily, monthly and annual figures — which is the shape you would expect of a virtual card used for many small payments. On the account side, Registered is capped at 1,000 USD a day in transfers and 10,000 USD in total; KYC1 allows withdrawals up to 200,000 USD a day. The minimum top-up is not stated, and neither are the time frames for disputes.

How to Top it up

Topping up is a three-step move, and the order matters because the money passes through a wallet that MP describes as non-custodial.

1. Deposit USDC or USDT into MP Wallet, either through Binance Pay or on-chain.
2. The wallet converts or holds the balance; crypto-to-fiat conversion is listed at $0.
3. Transfer from the wallet to the card, then spend.

That “non-custodial” description is the part to weigh carefully. It means the wallet keys stay with you rather than with the provider, which is a real structural difference from a custodial exchange account: control of the crypto belongs to whoever holds the private key, and a seed phrase of 12 to 24 words is an unencrypted key that anyone who obtains it can use to restore the wallet and spend the funds. It also means the risk moves onto you — key loss, phishing, and malware that swaps a copied address are now your problem, not the company’s. Blockchain transfers are typically irreversible, so a wrong send has no built-in recovery.

The gap: the pages I read do not list which networks are supported. This is the single most important thing to establish before your first transfer, and the reason is technical rather than bureaucratic. A deposit sent on a network the provider does not support, or to an address belonging to a different network, can be lost or need manual support recovery with no guarantee. The networks you can choose from in the wider market are broad — USDT has been issued on Ethereum, Tron, Solana, Polygon, Avalanche and others, and Circle lists USDC as natively supported on 38 networks as of 16 September 2026 — so “USDC or USDT” alone does not tell you anything about whether your send will land. Ask support which networks are accepted for a card top-up before you move money, and remember that on-chain network fees are charged by the blockchain, not by MP.

The other cost here is on the way out, not the way in. An issuance or top-up fee is not listed on the fee page. Online withdrawals (Wallet > Pay) cost 2.1 USDT per transaction, plus 0.1% on same-day withdrawals above 5,000 USDT. So if you withdraw to convert or to move money to a bank, budget roughly 2.1 USDT as a flat cost on anything modest — on a $200 withdrawal that is over 1%, which is more than the card’s own transaction fee.

Paying with it every day

This is the strongest part of the card, and it is the part that decides whether MP feels like a payment method or a demonstration.

• Cloud (virtual): supports linking with Alipay, WeChat Pay, Google Pay and Apple Pay. Four wallets, one of which is a genuine advantage if you are used to paying with WeChat.
• Boundless (physical): supports Apple Pay and Google Pay, plus the plastic card and its own ATM access.
• App: MPChat, on iOS and Android, where spending limits are managed. Store ratings were not available to me.
• Rewards: a “rewards balance” is mentioned, but the rate is not published, and the balance cannot pay reissue fees.

Two things about the setup matter more than they look. Apple Pay and Google Pay do not store your card number in the usual sense — Apple Pay replaces it with a device-specific Device Account Number kept in the Secure Element on your phone, and each payment carries a one-time dynamic code, so adding the card to a wallet is one of the stronger security moves available. And the issuer can restrict the tokenised number itself — blocking it on magnetic stripe, on phone, or on website payments is a normal control, not a malfunction.

What you will not find: the pages do not state which merchant categories are blocked. That is a genuine omission, because blocks are a policy choice rather than a legal requirement, and the list varies by issuer entirely. If gambling is a category you care about, note that the MCC covering casinos, betting and lotteries is one that issuers block on specific cards frequently; MP simply does not say whether it does.

One more thing about the physical card’s country. MP states the cards are issued in Singapore. Merchants can look up the BIN — the issuer identification number that starts a card number — to see which institution and country issued the card, and some apply extra scrutiny when the issuer country differs from the billing address. That is the general mechanism behind the familiar experience of a foreign-issued card being declined at a till or having online payments held for verification, and it is worth expecting occasionally. It is also why address verification can fail: AVS compares the numeric parts of the billing address you typed against issuer records, is mainly offered in the US, Canada and the UK, and is generally unavailable for foreign-issued cards.

What can go wrong

Here I am least comfortable, and I would rather say so than round the number up.

The issuer is not named. MP Network Inc is registered at 8 The Green, Suite B, Dover, DE 19901, USA, and describes itself as “a financial technology company, not a bank”. The brand is MPChat. The help centre lists licences: a US MSB registration, BSP and DASP in El Salvador, and a TCSP in Hong Kong, with a statement dated 13 August 2026 — but the issuing authorities behind those licences are not named. The cards are issued in Singapore, and the issuing bank is not named either. For a company holding a balance you spend, I would want to know who the counterparty is. Nobody has to answer that to stay compliant here, which is exactly the problem.

There are no reviews. Searching for user reviews of this product turned up nothing on Trustpilot or Reddit, and no review page of its own. That is not evidence of a bad card; it is evidence that there is no track record to inspect. A company with no complaints because no complaints have been written is a company whose first complaints will be its least prepared ones.

A product line disappeared mid-cycle. The Flash Card was retired on 30 September 2026, within weeks of the compliance statement. The handling was orderly — converted to Cloud, balances moved to Total Assets — but it demonstrates the mechanism: your access to a card tier depends on a company’s product decisions, and only the parts that went smoothly were described.

Balances and closure are undefined. The pages do not say what happens to a balance if you close the account. That is a real question, not a nitpick.

Security claims are partly unconfirmed. The wallet is described as non-custodial, and card funds are described as “securely backed within a regulated trust framework” — a phrase worth reading closely, since safeguarded funds under e-money and payment-services law are segregated or insured but are not the same as bank deposits and may not sit inside a deposit guarantee scheme. Spending limits are managed in the app. Freeze and block in the app and two-factor authentication were not confirmed on the pages I read.

The sector’s history is not on the card’s side. FTX’s US debit card was wound down after Visa terminated its global agreements on 13 November 2022. WaveCrest, a Visa issuer that supplied crypto card brands, was suspended by Visa in Europe in 2018, closing all its Visa programmes. Programme closures follow a pattern: a notice period, then spending and loading stop, then you are asked to withdraw what is left. So this is a category where the operator can disappear from under the card, and it is fair to weigh MP against that history rather than assume it is exempt.

Support is thin in one direction. Help is in-app (Me – Customer Support), by X, by email at [email protected], and through the Help Centre at help.mp.net, which is available in English, Simplified and Traditional Chinese. Hours are not stated — worth knowing before you need it at a weekend hour with a declined card.

What to take instead

If the two things holding MP back for you are the unnamed issuer and the missing network list, there are three cards in the same comparison that answer at least one of them more plainly. Scores are mine on the same scale, so you can read across.

MetaMask scores the same 7.1 and is more transparent about its plumbing: sign-up is open in 45 listed countries and territories, proof of residency is required, and the card is issued by Monovate with Crypto Life as card provider — one card per user, virtual first, Metal pre-orderable in the app at $199 a year. It also names its networks and tokens. Its trade-offs are real: cashback of 1% on Virtual, a headline 3% on Metal with a footnote limiting it to the first $10,000 then 1%, only a “minimal fee for each transaction” with the amount not stated on the pages I read, and US and UK sign-ups temporarily closed per the FAQ. Its eligibility logic is also worth testing against yourself — ineligible regions limit sign-ups, not spending.

KAST is the one to look at if FX cost is what bothers you. It publishes the band rather than a single rate: non-USD FX of 0.5%–1.75% depending on your residence country, the transaction country and the card programme, plus $0.10 on non-USD transactions under $25 and $0.50 for a declined transaction. Stablecoin top-up and USD spending are both 0%. The price is the membership: Standard $0, Premium $1,000 a year, Private $10,000 a year, billed annually upfront, with a $1 monthly inactivity fee after 12 months. It accepts USDT, USDC, PYUSD and RLUSD, though its Terms say acceptable tokens are “currently USDT and USDC” — the pages contradict each other, and that contradiction is itself a data point. Its country rules are also stricter in a way that catches people out: living in a supported country is not enough if you hold an ID from a restricted region, dual citizens with a supported-country ID may pass, only your own ID is accepted, and a VPN does not bypass it.

TokenPocket is the most regional: a Visa debit for a list of European countries including Germany, France, Spain and Switzerland, a Mastercard debit for Australia, Canada, Hong Kong, Japan, Taiwan, New Zealand, Singapore, South Korea and the UK, with the Americas described as planned. Cards are virtual, balances are in EUR24 and USD24, and the FAQ names Arbitrum. Its 1% deposit fee is meant to be refunded later via rewards or reduced transaction fees — which is a promise about the future, not a discount today.

Who I would recommend it to

I would recommend MP to someone who has a specific reason to want a virtual and a physical card from a single self-custody wallet, who spends in dollars most of the time, and who is comfortable being the one who reads the fee page. The $0 monthly fee and $0 crypto conversion are a real, durable advantage — over a year that is money most competitors charge you for the privilege. Apple Pay and Google Pay on both cards, Alipay and WeChat Pay on the virtual one, and limits high enough that nobody sensible hits them make it an easy daily driver.

I would hold back for someone who wants cashback, who needs to withdraw to a bank often, or who will not move a stablecoin until someone names the network. The 2.1 USDT withdrawal charge punishes small and frequent exits. The rewards balance exists and the rate does not. And the absent issuing bank is not a detail you can price — it is the difference between a card product and a financial relationship, and on the evidence available it is the former.

My practical suggestion, if you proceed: get the free-tier experience first, fund with an amount you would not mind discussing, ask support the two questions the pages leave open — which networks, and who is the issuer — and let their answers, not the marketing, decide whether you go for Boundless at 100 USDT. The virtual card at 10 USDT is the cheap way to find out whether the fee structure works for how you actually spend.

I would not treat this as investment, legal or tax advice, and I would check the current terms yourself before relying on any figure here.

Frequently asked questions

What is MP card?

MP is a crypto card product from MP Network Inc, marketed under the MPChat app. It converts or holds crypto as a spendable dollar balance and gives you a Visa to spend it with. There are two live options: Cloud Card, a virtual card costing 10 USDT, and Boundless Card, a physical Visa costing 100 USDT. MP describes itself as a financial technology company, not a bank, and it is registered in Delaware with licences listed in El Salvador and Hong Kong.

Is MP a bank, and who actually issues the card?

No, MP is not a bank — the company’s own wording 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. The cards are stated to be issued in Singapore, but the issuing bank is not named on the pages I read. MP is more likely the programme manager and front-end than the institution holding your balance, which is normal in this category.

Who can get an MP card, and who is excluded?

Eligibility is based mainly on your document’s place of issue and your registered residential address. Twenty-three countries are unavailable due to regulatory compliance, including Russia, Belarus, Iran, North Korea, Syria and Venezuela, and KYC cannot be completed in parts of Ukraine and several disputed territories. The pages state that documents cannot be switched to get around a regional restriction, so use your own.

How do I get the MP card, and does it need KYC?

You need KYC1, which means being 18 or over, giving basic personal information, submitting a government-issued passport or national ID, and passing a selfie liveness check. Documents more than three months from expiry are refused, and one identity can verify only one account. The flow is: install the app, register, open Assets > Activate Now, fund the wallet, choose a card and buy it.

What does the MP card cost, including hidden fees?

Cloud Card is 10 USDT and Boundless is 100 USDT, with no monthly fee. Each transaction costs 0.80% and crypto-to-fiat conversion is $0. Non-USD spending runs roughly 1.8%–2.2% all-in because the issuer’s FX rate is passed through and varies. A $0.15 fee applies to transactions of $1 or less, ATM withdrawals cost 2% with a $1 minimum, a declined transaction is $0.80 (first five a month free), and a dispute costs $35 per case.

How do I top up the MP card?

Deposit USDC or USDT into MP Wallet, which MP describes as non-custodial, either through Binance Pay or on-chain, then transfer the balance to the card. Conversion to fiat is listed at $0. The pages I read do not name the supported networks, so ask before your first transfer — a deposit on an unsupported network or to the wrong network’s address can be lost, since blockchain transfers are usually irreversible.

Can I use the MP card in Apple Pay and Google Pay?

Yes. The Cloud virtual card supports Alipay, WeChat Pay, Google Pay and Apple Pay; the Boundless physical card supports Apple Pay and Google Pay. Adding the card to a mobile wallet is one of the stronger security steps available, because the card number is replaced by a device-specific number in the phone’s Secure Element and each payment uses a one-time dynamic code.

Is the MP card safe, and can I trust the company?

That is the weakest part of the file. The wallet is described as non-custodial, so you hold the keys and bear the risk of key loss, phishing and address-swapping malware. Card funds are described as backed within a regulated trust framework, which is not the same as a bank deposit guarantee. The issuing bank is not named, and a search turned up no user reviews of the product on Trustpilot or Reddit, so there is no public track record to judge.

Why was the MP Flash Card retired?

The Flash Card was permanently retired on 30 September 2026. Cards already issued were converted to Cloud Cards and balances moved to Total Assets, so the migration was handled in an orderly way. It is still worth noting as a category lesson: card tiers come and go with company decisions, and the pages do not say what happens to a balance if you close an account.

Is the MP card worth it compared with alternatives?

Against MetaMask, which also scores 7.1, MP’s advantages are the $0 monthly fee and no extra MetaMask-style tier to pay for; MetaMask’s advantage is transparency, naming Monovate as issuer and listing its networks. KAST publishes an FX band of 0.5%–1.75% but charges up to $10,000 a year for its top tier. TokenPocket is the cheapest to enter but limited to specific regions. Pick on your country, your spending currency and how often you withdraw.

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