Based Card
Based · Visa
The Based Card is a custodial crypto card on the Visa network issued by Based (based.one), with direct deposits from Solana, Arbitrum, Polygon and Hyperliquid and auto-conversion at payment. It comes in two tiers: Gold (metal, 0% FX markup, up to 4% cashback) and HYPE (plastic, 1.5% FX markup, 2% cashback), both available as virtual and physical cards with Google Pay. Rewards are paid in $BASED points and access requires a token lockup (100,000 $BASED for Gold, 10,000 for HYPE). Euro issuance and annual fees are not officially documented, so they are shown as 0; there is no IBAN/SWIFT support and the team is not publicly verified. Full KYC required.
The number that matters
The banner cashback isn't what you pocket.
After FX markup, fees and withdrawals, on an average profile of €1,000/mo (20% abroad).
Data & conditions
§ Amounts in USD/GBP are shown in the service's native currency.
| Network | Visa |
|---|---|
| Fund custody | Custodial (platform holds funds) |
| Issuance fee | Free |
| Annual fee | Free |
| ATM withdrawal | Free |
| FX markup | 0% |
| Cashback | 4% in Punti $BASED · Lockup di token $BASED: 10.000 per HYPE, 100.000 per Gold |
| Contactless | Yes |
| Virtual card | Yes |
| KYC | Full |
| Privacy | 3/10 |
| Supported countries | EEA, UK, APAC |
| Funding / solidity | BasedApp (based.one) è l'operatore della Based Card; nel 2025 ha ritirato la domanda di licenza presso la MAS di Singapore e ha cessato i servizi carta in quel mercato. Modello a custodia ibrida (wallet non-custodial + conti carta custoditi). |
| Estimated net annual cost | €0/year |
| Regulator | Nessun regolatore confermato: BasedApp ha ritirato la domanda di licenza Payment Services Act presso la Monetary Authority of Singapore (MAS) nel 2025 |
| Segment | B2C |
| Funding / solidity | BasedApp (based.one) operates the Based Card; in 2025 it withdrew its license application with Singapore's MAS and ceased card services in that market. Hybrid custody model (non-custodial wallet + custodial card accounts). |
| MiCA / License status | Visa-network card issued via a card-issuing partner; BasedApp holds no confirmed license of its own after withdrawing its MAS application |
Plans & pricing
Based Orange
- FX markup
- 2.5%
- Cashback
- 0%
- tipo
- virtuale
- lockup
- Nessun lockup $BASED
- stato
- non ancora disponibile
HYPE
- FX markup
- 1.5%
- Cashback
- 2%
- tipo
- virtuale + fisica
- lockup
- 10.000 $BASED
- note
- fisica con spedizione 50$, rimborsi AI fino a 10$/mese
Gold
- FX markup
- 0%
- Cashback
- 4%
- tipo
- virtuale + fisica metallo
- lockup
- 100.000 $BASED
- note
- spedizione gratuita, rimborsi AI fino a 100$/mese e intrattenimento 20$/mese, 4 accessi lounge/anno
Strengths
- Up to 4% cashback and 0% FX markup on the Gold tier
- Direct deposit from multiple chains (Solana, Arbitrum, Polygon, Hyperliquid) with virtual and physical cards
- Google Pay supported, with rebates on subscriptions (Netflix/Spotify, Claude/OpenAI)
- No notable sovereignty advantage documented.
Weaknesses
- Custodial model: funds are held by the issuer, no self-custody
- Access gated behind a $BASED token lockup (100,000 for Gold) and a publicly unverified team
- Issuance/annual fees and ATM fees/limits undocumented; no IBAN/SWIFT support
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Visa-network card issued via a card-issuing partner; BasedApp holds no confirmed license of its own after withdrawing its MAS application): reporting to authorities and freezes on order.
Verdict
Weak protection: the issuer holds the funds converted for payment and BasedApp withdrew its own license application with Singapore's MAS (2025), leaving it without a clear regulatory framework and without IBAN/SWIFT support. Issuance/annual fees and ATM limits are undocumented. A tool for everyday spending, not for holding value with guarantees.
Mixed sovereignty profile: deposits arrive on-chain from several networks (Solana, Arbitrum, Polygon, Hyperliquid) but conversion and card balances are held by the issuer, so there is no self-custody of keys over the spent balance. The team is not publicly verified and access is gated behind a token lockup. Closer to a hybrid wallet than to a cypherpunk solution.
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
Is the Based Card custodial?
Yes: according to available sources funds are held by the issuer and converted at the point of payment, so you do not have self-custody of the keys.
How are rewards earned and how much cashback does it offer?
Cashback reaches up to 4% on the Gold tier (2% on HYPE) and is paid in $BASED points; tier access requires a $BASED token lockup.
Sources
- Official service page Cashback · Fx · Blockchain · Virtual card · +1 Data verified on Jun 22, 2026
- basedapp.gitbook.io Plans & pricing · Staking richiesto · Italia disponibile · Contactless Data verified on Jun 23, 2026
- blockhead.co Regulator · Regulatory framework · Azienda info Data verified on Jun 23, 2026
- cryptocardhub.com Supported currencies · Segmento Data verified on Jun 23, 2026
Show 1 more source
- todey.xyz Payment network · Custodial · Regioni · Kyc · +1 Data verified on Jun 22, 2026