Third National
Nimbus LLC (dba Third National)
Third National is a card issuer on the Visa network that lets platforms and teams launch card programs in a scalable way and on short timelines ("in days, not months"). The operating entity is Nimbus LLC (dba Third National), registered as a Money Transmitter with Puerto Rico's Commissioner of Financial Institutions (NMLS #2612780, licence #TM-0207), compliant with Act 136 of 2020 and Regulation 9393. It is a B2B service: pricing, volume and client details are not public.
Data & conditions
| Service type | Card issuing / BaaS |
|---|---|
| Pricing model | Not disclosed |
| Card networks | Visa |
| Customer type | Platforms, Fintech |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | US |
| Regulator | Puerto Rico Commissioner of Financial Institutions (OCIF) |
| OAM Italy registration | No |
| Segment | B2B |
| MiCA / License status | Money Transmitter (Puerto Rico) NMLS #2612780, Licence #TM-0207 Money Transmitter regulated in Puerto Rico (Act 136 of 2020, Regulation 9393) |
Strengths
- Card issuer on the Visa network with fast program onboarding
- Entity regulated as a Money Transmitter in Puerto Rico (NMLS #2612780)
- No notable sovereignty advantage documented.
Weaknesses
- B2B product: not accessible to end consumers
- Company with little public documentation; pricing, volumes and clients unknown
- Limited regulatory scope (single Puerto Rico money transmitter licence)
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Money Transmitter regulated in Puerto Rico (Act 136 of 2020, Regulation 9393)): reporting to authorities and freezes on order.
Verdict
Score 3.0/5, average profile. In its favour: card issuer on the Visa network with fast program onboarding. The trade-off to weigh: b2B product: not accessible to end consumers.
On the Sovereignty lens the score is 0.4/5 (weak): the strength is censorship resistance (1.5/5), while fund control (0.0/5) is the weak link.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Can a private individual use Third National?
No. Third National is card-issuing infrastructure aimed at platforms and companies (B2B); a consumer would only encounter it through a card issued by a partner.
Under what licence does Third National operate?
The legal entity Nimbus LLC (dba Third National) is registered as a Money Transmitter with Puerto Rico's Commissioner of Financial Institutions (NMLS #2612780, licence #TM-0207).
Sources
- Official service page Descrizione · Prodotto · Licenses & registrations Data verified on Jul 17, 2026