Pyra Card.
⚫ HISTORICAL — Pyra was a DeFi-loan-backed Visa "asset neobank" letting users spend on credit while assets kept earning yield (4.6% APY on USDC/USDT and SOL), avoiding asset sales and capital gains tax. Pyra is now shutting down after the Drift exploit; existing users should withdraw funds via the web portal before September 15, 2026.
Pros.
- +⚫ DEFUNCT — Pyra is winding down after users were hit by the Drift exploit; all cards cancelled, no new sign-ups
- +DeFi loan model: spend without selling assets (no capital gains tax)
- +4.6% APY on USDC/USDT and 4.6% APY on SOL
- +Auto-invest paycheck into yield-bearing assets
- +Self-custodial — assets stay in your wallet
- +Visa accepted at 42M+ merchants worldwide
- +75+ countries supported for KYC
Cons.
- −⚫ SHUT DOWN — Pyra announced an orderly wind-down (pyra.fi, verified 2026-07-21) after the Drift exploit hit its business and users hard; new sign-ups have ceased and all existing Pyra cards have been cancelled
- −Withdrawals and private-key export remain available via the web portal only until September 15, 2026 — do not sign up expecting a working card
- −Timeline for Drift recovery-token distribution to affected users is not yet announced
- −DeFi loan model meant users carried a debt position to manage
- −Specific top-up/FX/transaction fees were never transparently published
Detailed fee breakdown.
SHUTDOWN (source: pyra.fi, verified 2026-07-21): "After evaluating every available path forward, we've made the difficult decision to wind down Pyra and end operations... all existing Pyra cards have been cancelled." All user balances remain available for withdrawal via the web portal until September 15, 2026; the mobile app will also be shut down. Historical fee terms were never transparently published — top-up/FX/transaction fees not disclosed while the service was live.