PEXX Card
PEXX · Visa/Mastercard
PEXX is a stablecoin banking and fiat off-ramp platform: it converts USDT/USDC into local currency and sends direct transfers to bank accounts in 17+ countries at mid-market FX. The PEXX Card is a card (virtual, issued within about a minute after a deposit is confirmed) linked to the user balance, accepted globally and usable via Apple Pay/Google Pay; PEXX advertises physical, virtual, or both cards and offerings on both Visa and Mastercard. Funds are held with licensed partners (a custodial model). PEXX charges a 0.6% platform fee on every card transaction plus a 1.2% FX markup on non-base-currency purchases. Virtual card issuance is free and PEXX states it currently has no spending limits. The issuing company is PEXX Technology Pty Ltd (Australia), AUSTRAC-registered as a DCE and remittance dealer and as a FinCEN MSB. Issuance fee, annual fee and ATM fee are set to 0 because the virtual card is free, has no annual fee and does not support ATM withdrawals; the founding year is not publicly documented and is therefore omitted.
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/Mastercard |
|---|---|
| Fund custody | Custodial (platform holds funds) |
| Issuance fee | Free |
| Annual fee | Free |
| Free ATM limit | Nessun prelievo ATM supportato |
| ATM withdrawal | Free |
| FX markup | 1.2% |
| Cashback | 1% · Nessuno |
| Contactless | Yes |
| Virtual card | Yes |
| KYC | Full |
| Privacy | 3/10 |
| Supported countries | APAC, US, EEA, UK, LATAM · 180+ countries |
| Funding / solidity | PEXX e una piattaforma di stablecoin banking e off-ramp verso fiat con sede in Australia, operata da PEXX Technology Pty Ltd. Offre conti USD borderless, trasferimenti diretti a banche in 17+ paesi a cambio mid-market e la PEXX Card. |
| Estimated net annual cost | €0/year |
| Regulator | AUSTRAC |
| Segment | B2C |
| Funding / solidity | PEXX is an Australia-based stablecoin banking and fiat off-ramp platform operated by PEXX Technology Pty Ltd. It offers borderless USD accounts, direct bank transfers to 17+ countries at mid-market FX, and the PEXX Card. |
| MiCA / License status | AUSTRAC DCE (DCE100851583-001)AUSTRAC Remittance Dealer (IND100851583-001)FinCEN MSB (31000288010318) PEXX Technology Pty Ltd is registered with AUSTRAC as a Digital Currency Exchange (DCE100851583-001) and as an independent remittance dealer (IND100851583-001), and with the US FinCEN as a Money Services Business (MSB 31000288010318). |
Strengths
- Free virtual card issuance, active within about a minute of the deposit
- Stablecoin-to-fiat off-ramp at mid-market FX with direct transfers to 17+ countries
- Verifiable regulatory registrations (AUSTRAC DCE and remittance, FinCEN MSB)
- No notable sovereignty advantage documented.
Weaknesses
- Custodial model: funds are held with licensed partners, not by the user
- Effectively virtual-only card, with no ATM withdrawals
- Effective 1.8% cost on foreign purchases (0.6% platform fee + 1.2% FX markup)
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (PEXX Technology Pty Ltd is registered with AUSTRAC as a Digital Currency Exchange (DCE100851583-001) and as an independent remittance dealer (IND100851583-001), and with the US FinCEN as a Money Services Business (MSB 31000288010318).): reporting to authorities and freezes on order.
Verdict
Custodial model: funds are held with licensed partners, not by the user. PEXX Technology Pty Ltd is AUSTRAC-registered as a DCE and remittance dealer and as a FinCEN MSB. Partial protection: verifiable regulation but no bank-grade fund segregation.
Low sovereignty: custody delegated to partners, mandatory full KYC and dependence on Visa/Mastercard rails. The user does not control the keys and funds are exposed to counterparty risk.
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
What fees does the PEXX Card charge?
Virtual card issuance is free and there is no annual fee. PEXX charges a 0.6% platform fee on every card transaction plus a 1.2% FX markup on non-base-currency purchases, for an effective 1.8% cost on foreign purchases. ATM withdrawals are not supported.
Which stablecoins and networks does PEXX work with?
You can top up with USD, USDT or USDC and PEXX converts stablecoins into local fiat. The card is accepted globally on major networks (Visa and Mastercard) and works via Apple Pay and Google Pay.
Sources
- Official service page Payment network · Virtual card · FX markup · Card issuance fee · +12 Data verified on Jun 23, 2026
- faq.pexx.com Supported currencies Data verified on Jun 23, 2026
- todey.xyz Cashback · ATM limits · Kyc · Regioni · +2 Data verified on Jun 22, 2026