Solcard

SolCard is a crypto-funded, prepaid payment card product that issues virtual cards denominated in U.S. dollars (USD). It is designed to let users deposit supported crypto assets, convert value into a card balance, and spend online at merchants that accept major card networks. SolCard also offers a higher-access card tier that supports Apple Pay and Google Pay for in-person payments where mobile wallets are accepted.

Overview

SolCard describes itself as a virtual, crypto-funded card that is issued automatically after a deposit is confirmed. The product is structured around two access levels. A standard virtual card tier is designed for online spending without identity verification. A higher tier requires identity verification and adds mobile wallet support for real-world payments.

• Operator: SolCard is legally identified in its Terms and Privacy Policy as SC PAYMENTS LIMITED.
• Card type: Prepaid virtual payment card, USD-denominated.
• Primary use: Crypto deposits converted into a spendable card balance for online purchases, with mobile wallet support on eligible cards.

Card Tiers and Features

SolCard’s product pages and help center describe two primary tiers that differ by verification requirements, limits, and top-up fees. The standard tier is intended for online-only use, while the higher tier expands functionality to Apple Pay and Google Pay.

• Virtual (standard): No identity verification; designed for online purchases; includes a monthly spending limit of $5,000 and a percentage-based top-up fee.
• Platinum (full access): Identity verification required; described as having no monthly limit and no percentage top-up fee; supports Apple Pay and Google Pay for in-person payments where supported.

SolCard states that cards are currently virtual only and does not list physical card availability in its help documentation.

Supported Currencies and Funding

SolCard’s help center lists supported funding assets that include stablecoins and Solana ecosystem tokens. Supported deposit networks for stablecoins include multiple chains, while certain assets are supported specifically on Solana.

• Stablecoins: Tether (USDT) and USD Coin (USDC), including support across several networks depending on the asset.
• Solana assets: Solana (SOL) and additional Solana-network assets referenced by SolCard, including SOLC and JITO.

Card balances are denominated in USD. SolCard’s Terms describe topping up a USD amount using supported crypto assets, with supported assets subject to change.

Fees and Limits

SolCard publishes a detailed fee schedule through its help center. Fees can apply at several stages, including transactions, top-ups, cross-border spending, and withdrawals. Key published items include the following:

• Card issuance fee: $10 per new card.
• Top-up fee: 5% for the standard tier, and 0% for the full access tier.
• Transaction fee: $0.30 per successful purchase.
• Cross-border and foreign exchange fee: 2% for international or currency conversion transactions.
• Apple Pay and Google Pay fee: 0.30% on purchases made via Apple Pay or Google Pay (full access cards only).
• Declined transaction fee: $0.15 when a transaction is declined.
• Small purchase fee: $0.15 for transactions under $10.
• Withdrawal fee: $1, paid in USDT, described as covering blockchain or network costs.
• Refund to card fee: 2% when a merchant refund is returned to the SolCard balance.

SolCard’s Terms also describe a minimum recharge amount of $10 and a withdrawal process that allows users to redeem unused balances using USDT, with a minimum redemption amount of $10 and a stated minimum interval of 48 hours between redemptions.

Acceptance and Usage

SolCard’s help center states that the standard card is intended for online spending wherever Mastercard is accepted. Its Terms also indicate the card can be used on online platforms that support Mastercard and Visa payments. For full access cards, SolCard describes the ability to add the card to Apple Pay or Google Pay for offline payments in supported locations. As a prepaid product, spending depends on the available card balance, and SolCard notes that transactions can be declined if the balance does not cover both the purchase amount and any applicable fees.

Eligibility and Regions

SolCard states that its services are available worldwide with exceptions. Its help center lists restricted countries due to international regulations, including the United States, Cuba, North Korea, Egypt, Iran, Myanmar, Nigeria, Russia, and South Africa. Separately, SolCard’s Terms include geographic restrictions stating that the service is not available to residents or users located in Hong Kong, and that access from Hong Kong may be blocked.

Risks and Considerations

• Fee layering: Users may incur multiple fees on a single transaction, such as per-transaction fees plus cross-border fees, and mobile wallet fees on full access cards.
• Conversion and network costs: Funding and withdrawals can involve conversion outcomes and network-related costs, including the published withdrawal fee paid in USDT.
• Availability and restrictions: Country restrictions and geographic controls can affect who can open an account and use card features.
• Prepaid limitations: Card use depends on available balance, and certain transactions can be declined if fees cannot be covered.