Reap

Verdict

Reap is a business card, not a consumer one. It suits registered companies — Reap builds it for Web3 firms like exchanges, wallets, fintechs, DAOs and agencies — that hold USDC or USDT and want to spend on a Visa corporate card without opening a traditional bank account. If you are an individual after a personal crypto card, this is not it.

The top-line: there is no standing cashback rate, the annual fee is $0 on both physical and virtual cards, and custody is custodial and secured — you post stablecoins (or fiat) as collateral that Reap holds to extend a matching Visa credit line. The card is issued directly by Reap as a Visa Principal Member in Hong Kong and Mexico; Reap is a licensed fintech, not a bank.

Rewards: no standing rate

Reap does not publish a standing or base cashback rate on the card, so treat it as a spend-management tool rather than a rewards card. It names no reward currency either, because there is no ongoing rewards program.

Fees

The annual fee is $0 for both physical and virtual cards, with no monthly fees or minimum balances — you pay per transaction. The costs to watch are usage-based:

• ATM withdrawals: 2%
• FX fee: 2%
• Monthly bill repayment: free in fiat or stablecoins, though a late fee may apply
• Mobile app, spend controls, multi-entity management: free

Custody, funding and how you spend

This is a secured Visa credit card, not a stablecoin debit card. You collateralize your account with USDC/USDT or fiat, and your credit limit is 100% of that collateral (1:1). The collateral is held by Reap — a licensed fintech, not a bank — to secure the credit line, so it is not self-custody.

Stablecoin funding and repayment use USDC and USDT across Ethereum, Polygon, Solana and TRON. At the point of sale you spend in fiat — cards are denominated in USD or HKD — not in stablecoins directly, and you repay the monthly bill in fiat or stablecoins. Cards can be added to Apple Pay and Google Pay.

Who can get it, and what teams get

Eligibility is for registered businesses via 100% online KYB: company registration documents, director IDs and proof of business address, with most companies approved within about three business days. Reap is licensed and regulated in Hong Kong and Mexico. One clear exclusion — the service is not directed at persons in Singapore.

For teams, Reap issues unlimited virtual or physical cards to unlimited members, with multi-entity management. Controls are granular: budgets by day, month or year and by project, team member or event; per-card limits on merchant type, location or time of day; instant freeze, replace and update; and approval workflows. Expense tooling includes Xero integration, real-time analytics, and receipt capture with auto-matching.

Who it is for

Get it if you run a registered, stablecoin-holding business — especially a Web3 company — that wants Visa corporate cards, strong spend controls and stablecoin settlement, and can post collateral 1:1. It is a natural fit if you already operate in Hong Kong or Mexico and use Xero.

Skip it if you want cashback as a standing feature, if you need a personal card, if you are in Singapore, or if you would rather not lock up collateral to get a credit line. The 2% ATM and 2% FX fees also make it a poor pick for heavy cash withdrawals or constant currency conversion.