Ledger
Cashi
CashiCashi
VisaVirtual onlySince 2026Asks for a documentOperational
A free virtual Visa that takes USDC or USDT on seven chains, charges nothing to open, hold, fund or spend in dollars, and prices currency conversion at an exact 1% — with a full fee article published seven weeks after launch, and no country list published at all.
Total, per $100 spent: $1.00per $100 spent
53 of the 175 priced cards cost less. Among the 101 that ask for exactly as much identity, the median is $1.00.
Open cashi.comNot a paid link: we earn nothing either way.
Whether to take Cashi
Worth trying if you hold USDC or USDT and spend in dollars: the published schedule is genuinely all zeros on the ordinary path, the 1% conversion is stated exactly, and the entity and its FINTRAC registration are named and checkable. Keep the balance small. It is a seven-week-old public beta that is custodial, pooled and uninsured, its terms reserve discretion over every fee it just published, it will not tell you whether your country is supported until you have installed the app and verified your identity, and there is no ATM, no plastic and no Apple Pay.
In its favour
- Nothing to open, nothing to keep, nothing to deposit and nothing on a dollar purchase — four separate zeros, each with a sentence behind it
- Seven chains for USDC and USDT, enumerated per asset rather than claimed as a number
- Currency conversion is an exact published 1%, not a range and not a discretionary spread
- Cashback is banded and explicit — 3% subscriptions, 2% online, 1% travel — with the per-merchant caps published in the help centre rather than hidden
Against it
- Terms §6 overrides the entire published fee list: "Your use of the Services may be subject to applicable fees and spreads ("Fees") calculated at our discretion"
- No country list exists anywhere — not on the site, not in the help centre, not in the terms. The only way to learn whether your country is supported is to install the app and hand over your data
- Custodial and uninsured, with assets pooled: "For on-chain efficiency, assets may be held in omnibus wallets", and balances in the custodial wallet are not insured
- Public beta, seven weeks old, with a full launch expected before the end of the year
Also true, in its favour
- The whole fee list lives in a dedicated help-centre article, which is rare for a product seven weeks old
- Entity and regulator are named: Cashi Ltd., incorporated in Hong Kong, with money-services functions performed by GBP Payments Corp. (BC1550207), FINTRAC MSB registration C10001615
What Cashi costs
| Charge | What it costs |
|---|---|
| To get the card | |
| To issue the card | $0.00 |
| Monthly | $0.00 |
| To put money in | |
| To load | 0% |
| To spend it | |
| To spend | 0% |
| Per payment, fixed | $0.00 |
| To spend outside the dollar | 1% |
| At a cash machine | Not available — the card is virtual only and cannot be used at a cash machine |
| Total, per $100 spent | $1.00 |
Read off cashi.com on September 12, 2026.
Four zeros with a sentence behind each: free to issue, no monthly fee, no Cashi fee on a digital-asset deposit beyond the network's own, and nothing taken on a dollar purchase. Conversion is a flat 1% when a merchant charges in another currency, though the terms leave the exchange rate itself to the conversion partner, so a spread on top is possible and undisclosed. The daily spending limit is yours to set in the app, up to a ceiling of $50,000; no monthly, per-transaction or balance cap is published. There is no ATM fee because the virtual card cannot be used at a cash machine, and no physical-card price because the plastic does not exist yet. Fiat deposits and withdrawals are priced by a third-party partner and Cashi states outright that it publishes no list of those fees. Over all of it sits terms §6, which reserves the right to calculate fees and spreads at Cashi's discretion.
KYC: what Cashi asks for
A government document. Passport or ID goes to the issuer and to whoever processes verification for it, before the card is handed over.
Asks nothing7 cards
An email19 cards
A light check — a name and a phone, unverified9 cards
A document102 cards
Everything — document, face, address113 cards
Limits on spending
Daily spend$50,000
Not published by the issuer: monthly spend, per payment, maximum balance, cash, per day.
Confirmed on cashi.com on September 12, 2026. A figure told to one person in a chat window is not a published limit, so it does not appear here.
Where it works
WalletsGoogle Pay only
Accepted whereOnline and in person
Account detailsNone — it is a card, not an account
Coins in2USDC, USDT
Chains7Ethereum, Arbitrum, BNB Chain, Solana, Tron, Base, Polygon
Closed to residents of 1 countries, according to the issuer's own terms.
- United States
The other flaws
- No Apple Pay, so an iPhone is an online-only card — and Cashi's own app-store listings claim Apple Pay anyway, contradicting its website
- No ATM access and no physical card; plastic is promised but not priced
- The cashback headline is heavily capped, and the caps are on a help page rather than on the homepage that sells the rate
- Cashback is not money: spending credit cannot be withdrawn or transferred, and the reward balance is explicitly not a debt owed to you
- You cannot close the card — only freeze it
- The card-issuing partner is named on no Cashi-owned page; it appears only inside a quote in Cashi's own press release
- The fiat ramp is a third party's product under a third party's terms, and its fees are unpublished by policy — Cashi says plainly it does not publish a list
- Whether an exchange spread sits on top of the stated 1% is undisclosed: the terms say the rate is set by the conversion partner
- The United States is excluded by both residence and citizenship, while the app is still distributed in the US App Store
How we checked this
Thirteen fields are tracked for every service. 12 of them carry a figure we read off cashi.com on September 12, 2026.
- Issuer's page
- Cost per $100 · Loading chargeSeptember 12, 2026 · Currency conversionSeptember 12, 2026 · Per-payment chargeSeptember 12, 2026 · IssuanceSeptember 12, 2026 · MonthlySeptember 12, 2026 · Cash machine chargeSeptember 12, 2026 · Spending limitsSeptember 12, 2026 · Apple Pay and Google PaySeptember 12, 2026
- Sign-up flow
- Identity level
- Live check
- Operating statusSeptember 12, 2026
- Terms
- Countries closedSeptember 12, 2026
- The issuer does not publish
- Maximum balance
Nothing here came from a press release, an affiliate sheet, or another comparison site.
Open cashi.comNot a paid link: we earn nothing either way.
Alternatives to Cashi
Costs $2.00 more per $100 — the price of the difference.
Shakepay CardShakepay CardVisaVirtual onlyAsks for a documentOperationalFree to load. 3% outside the dollar.AG21 Jul$3.00per $100 spent
Shakepay CardShakepay CardVisaVirtual onlyAsks for a documentOperationalFree to load. 3% outside the dollar.AG21 Jul$3.00per $100 spentCosts $1.00 more per $100 — the price of the difference.WallbitWallbitVisaVirtual onlyAsks for a documentOperationalFree to load. 2% outside the dollar.AG12 Sept$2.00per $100 spent
