SolCard
SolCard is a prepaid debit card solution that allows Solana token holders to spend their crypto at merchants worldwide. It offers instant issuance of virtual cards with immediate crypto top-ups, bridging the gap between Solana blockchain assets and traditional payment networks. The service emphasizes accessibility and minimal verification requirements for standard usage.
- Type: Virtual Visa or Mastercard prepaid cards with Apple Pay/Google Pay integration
- Key Feature: No KYC required for standard usage (up to $10,000/month)
- Availability: Global reach with acceptance at 150M+ merchants worldwide
- Standout Benefit: Instant card issuance with immediate crypto top-ups from SOL
- Biggest Downside: 5% top-up fee on all crypto deposits makes frequent use costly
Card Tiers
Detailed Summary
SolCard: Prepaid Visa & Mastercard Crypto Cards for Solana Assets
Quick Summary
Key Features
- Crypto-funded Visa/Mastercard prepaid card for Solana assets
- No KYC required for standard usage (up to $10,000/month)
- Instant card issuance with immediate crypto top-ups
- Apple Pay supported in 53 countries worldwide
- Virtual card format with mobile wallet integration
Main Advantages
- Immediate access without lengthy approval processes
- Global availability with broad merchant acceptance
- Mobile wallet integration (Apple Pay/Google Pay)
- No annual fees or hidden charges (transparent fee structure)
- Revenue sharing for qualifying $SOLC token holders
Notable Limitations
- 5% top-up fee on all crypto deposits
- Virtual cards only (no physical plastic cards)
- Merchant restrictions (especially on Mastercard variant)
- Automatic card freezing after consecutive declined transactions
- Limited cryptocurrency support (primarily SOL)
Table of Contents
Basic Information
| Details | Information |
|---|---|
| Card Issuer | SC Payments PTE. LTD. (Singapore) |
| Payment Type | Prepaid debit card |
| Launch Date | 2024 |
| Card Format | Virtual cards only (no physical cards mailed) |
| Mobile Wallet Integration | Apple Pay (53 countries), Google Pay |
| Merchant Acceptance | 150M+ merchants worldwide accepting Visa/Mastercard |
| Payment System Compatibility | PayPal (Visa variant only), WeChat Pay |
Rewards and Benefits
Current Benefits
- No KYC Required: Standard usage up to $10,000/month without identity verification
- Instant Issuance: Immediate card access after application
- Revenue Sharing: 50% of top-up fee revenue distributed to qualifying $SOLC token holders
- Referral Program: Tiered affiliate system with percentage of fee revenue from referred users
Upcoming Benefits
- Cashback Program: Tiered structure for $SOLC token stakers (up to 8% planned)
- Token Utility: Direct $SOLC token deposits for funding
Fees and Limits
Card Issuance Fees
| Card Type | Fee |
|---|---|
| Visa SolCard | $40 ($24 with promo code) |
| Mastercard SolCard | $10 |
Transaction Fees
| Fee Type | Amount |
|---|---|
| Transaction Fee | $0.30 per purchase |
| Foreign Exchange Fee | 2% for currency conversion/cross-border |
| Apple Pay Fee | Additional 0.30% |
| Top-up Fee | 5% on all crypto deposits |
| Maintenance Fee | $1 monthly (mentioned in Terms) |
| Small Transaction Fee | $0.15 extra for transactions under $10 |
| Declined Transaction Fee | $0.15-0.50 |
| Balance Withdrawal Fee | $1.00 for withdrawing unused balance |
Spending Limits
| Limit Type | Amount |
|---|---|
| Standard Monthly Limit | $10,000 USD (combined load and spend) |
| Higher Limits | Available with KYC verification |
Card Tiers and Options
| Feature | Visa SolCard | Mastercard SolCard |
|---|---|---|
| Issuance Fee | $40 ($24 with promo code) | $10 |
| Card Format | Digital card | Virtual card only |
| Delivery | Instant digital card for Apple/Google Wallet | Card details via dashboard |
| Special Features | Apple Pay & Google Pay compatibility | Lower entry cost |
| Merchant Acceptance | Broader acceptance, usable with PayPal | Restricted (PayPal, Grab, OnlyFans, Patreon, US banks, crypto exchanges blocked) |
| Card Number | Starting with 4937 | BIN starting with 5319 |
| Best For | Full-feature option for both online and in-person spending | Budget option primarily for online shopping |
Top-Up Methods
Users must pre-load the SolCard by depositing Solana (SOL) from their external wallet to the SolCard platform via the web dashboard. Upon deposit, the SOL is immediately converted to USD at current market rates, with a 5% top-up fee deducted from all crypto deposits. The process is instant, typically reflecting within minutes, and the USD balance becomes available for spending anywhere Visa/Mastercard is accepted. Funds move from self-custody to the fully custodial SolCard wallet, which means users transfer control of the assets to the card provider. Top-ups are only possible using SOL (no direct support for stablecoins yet), require use of the web dashboard (no dedicated mobile app), and carry a $10,000 monthly limit for unverified users, with higher limits available after KYC verification.
Self-Custody Custodial
SolCard uses a custodial model where users first deposit their SOL into a wallet controlled by SolCard, which immediately converts the crypto to a USD balance for spending. Users access and manage their funds through the SolCard platform but do not have access to the underlying private keys at any point. This arrangement allows for quick top-ups and instant issuance, but users relinquish independent control over their assets once deposited. If SolCard were to shut down or experience issues, users would not be able to retrieve funds independently. The setup offers convenience and no-KYC access up to certain limits, but the trade-off is that users rely entirely on SolCard's ongoing operations and security measures to safeguard their converted funds.
Supported Currencies and Conversion
Cryptocurrency Support
| Currency | Support Level |
|---|---|
| Solana (SOL) | Primary funding source |
| USDT, USDC | Initially indicated but currently not accepted |
| $SOLC | Future support planned |
Fiat Currency Support
- USD as base settlement currency
- Purchases in non-USD currencies subject to 2% conversion fee
Conversion Process
- User deposits SOL to SolCard wallet
- SolCard converts to USD balance at current market rates
- Conversion happens immediately upon deposit (not at time of purchase)
- User can spend USD balance anywhere Visa/Mastercard is accepted
Geographic Availability
Global Coverage
- Available worldwide with no explicit country blacklist
- Apple Pay card issuance supported in 53 countries including:
- North America: US, Canada
- Europe: UK, Germany, France, Spain, Italy
- Asia: Japan, Hong Kong, Singapore, India
- Oceania: Australia, New Zealand
- Latin America: Brazil, Mexico
- Africa: Select countries
Regional Considerations
- Apple Pay initially limited to US/Hong Kong but now expanded globally
- Standard sanctions restrictions likely apply
- Users responsible for compliance with local regulations
Compliance and Security
Verification Requirements
- Standard Usage: No KYC required up to $10,000/month
- Enhanced Limits: Verification required only for higher limits
Security Features
- Card details provided in secure dashboard
- Tokenization via Apple/Google Pay for in-person transactions
- Ability to freeze/cancel card via dashboard
- Automatic security freezes for suspicious activity
Compliance Measures
- Operates under Singapore regulations
- Enforces strict transaction rules and merchant restrictions
- Fully custodial model – SolCard holds deposited funds until spent
Technical Details
Platform Access
- No dedicated mobile app
- Mobile-optimized web dashboard
- Card management through web interface
Support Channels
- In-site chat support
- Email support: support@solcard.cc
- Telegram community
Settlement Details
- Timing: Instant – top-ups typically reflect within minutes
- Balance Display: All balances shown in USD
- Foreign Purchases: Automatically converted from USD with 2% fee
User Experience
| Positive Aspects | Concerns |
|---|---|
| Convenience and simplicity | 5% top-up fee considered high |
| Fast setup process | Team transparency issues |
| Global acceptance | Merchant restrictions |
| No KYC requirement | Automatic freezing mechanisms |
- Cards can be immediately added to Apple Pay or Google Pay for contactless payments
- Web dashboard provides access to card details and transaction history
- No mobile app means all management happens through web interface
- Automatic security measures may lead to unexpected card freezes
Best Suited For
- Solana Ecosystem Participants who already hold SOL and seek immediate spending capabilities
- Privacy-Focused Users who value financial privacy and prefer minimal KYC requirements
- International Travelers who need global merchant acceptance without traditional banking restrictions
- Crypto Enthusiasts who are comfortable with the crypto-to-fiat bridge concept
- Underbanked Individuals who live in regions with limited banking access and seek alternative payment options
Pros and Cons
Pros
- Immediate access without lengthy approval processes or credit checks
- No KYC requirements for standard usage limits
- Direct spending of crypto assets without exchange withdrawal delays
- Mobile wallet integration with Apple Pay and Google Pay
- Global reach with worldwide acceptance at 150M+ merchants
- Revenue sharing for qualifying token holders
Cons
- 5% top-up fee makes it expensive for frequent or large transactions
- Virtual cards only with no physical option
- Merchant restrictions, especially on the Mastercard variant
- Limited transparency about the team and company structure
- Primary support for SOL only, limiting diversification options
- Automatic card freezing after consecutive declined transactions
Conclusion
SolCard successfully bridges the gap between Solana blockchain assets and traditional payment networks, offering a unique combination of accessibility, privacy, and convenience. Its standout features include instant issuance, no-KYC usage, and broad international acceptance through Visa/Mastercard networks and Apple Pay integration.
The service provides immediate utility for Solana holders looking to spend their crypto assets without the typical delays of exchange withdrawals. The dual card options provide flexibility, with the Visa variant offering broader acceptance and mobile wallet support, while the Mastercard provides a lower-cost entry point.
However, the 5% top-up fee represents a significant cost for users, making it less suitable for frequent or large transactions. The virtual-only format and merchant restrictions, particularly for the Mastercard option, may also pose limitations for some users.
Overall, SolCard represents an innovative solution in the crypto-to-fiat payment space, especially valuable for Solana ecosystem participants who prioritize convenience, privacy, and immediate access over cost-efficiency.
Additional Information
Company Information
- Parent Company: SC Payments PTE. LTD.
- Registration: Singapore
- Team: Not publicly identified
- Launch Metrics: Over 3,000 cards issued and $1.2M loaded in first 40 days of operation
$SOLC Token Economics
- Revenue Sharing: 50% of top-up fees (2.5% of total deposits) distributed to qualifying token holders
- Qualification: Holders must own at least 0.1% of total supply
- Distribution: Weekly snapshots and distributions
- Future Utility: Planned cashback system and potential governance features
Usage Tips & Workarounds
Merchant Restrictions Workarounds
- Use Visa variant instead of Mastercard for fewer restrictions
- Add card to PayPal for broader acceptance (Visa only)
- Use Jupiter DEX to swap other assets to SOL before topping up
Fee Minimization Strategies
- Top up larger amounts less frequently to reduce impact of the 5% fee
- Avoid small transactions under $10 to prevent additional fees
Avoiding Card Freezes
- Maintain sufficient balance to avoid declines
- Don't retry failed transactions repeatedly
- Be aware of freeze triggers:
- 3 consecutive declines for Visa SolCard
- 5 consecutive insufficient-fund declines for Mastercard
- Decline rate exceeding 20% of transactions
- Attempted use on prohibited merchants
Upcoming Features
- Tiered cashback system for $SOLC token holders (up to 8%)
- Direct $SOLC token deposits for funding
- Voucher system for business payouts
- Potential expansion of supported cryptocurrencies
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