Wayex Card
Wayex · Visa
The Wayex Card is a Visa card (digital and physical) issued for the Australian market by Cryptospend Pty Ltd, trading as Wayex (formerly CryptoSpend, launched in 2018 as Australia's first native crypto Visa card). The card converts crypto held in the app's custodial wallet into Australian dollars (AUD) at the point of payment. Wayex is registered with AUSTRAC as a Digital Currency Exchange and operates under AFSL 448066 (Flexewallet Pty Ltd). The digital card is free while the physical card costs a one-time AUD 14.99 (about EUR 9, the value used in fee_emissione_eur). There are no annual fees. Wayex advertises zero foreign transaction fees but applies a 1% crypto-to-AUD conversion fee on every spend and withdrawal: this 1% is reported as fx_markup_pct because it is the effective cost of spending crypto. There is no cashback (cashback_pct = 0). Wayex charges no ATM fee of its own (atm_fee_pct = 0), but ATM withdrawals are available only in Australia and subject to the 1% conversion. The service is limited to Australian residents and citizens (APAC region) and is not available in the EU.
Data & conditions
| Network | Visa |
|---|---|
| Fund custody | Custodial (platform holds funds) |
| Issuance fee | €9 |
| Annual fee | Free |
| Free ATM limit | Prelievi ATM disponibili solo in Australia (1% conversione cripto-AUD) |
| ATM withdrawal | Free |
| FX markup | 1% |
| Cashback | — |
| Contactless | Yes |
| Virtual card | Yes |
| KYC | Full |
| Privacy | 2/10 |
| Supported countries | APAC |
| Funding / solidity | Cryptospend Pty Ltd, con marchio Wayex (ex CryptoSpend), e una societa australiana fondata nel 2018, prima a lanciare una carta Visa cripto nativa in Australia. Registrata presso AUSTRAC come Digital Currency Exchange. |
| Estimated net annual cost | €0/year |
| Regulator | AUSTRAC (Australia) |
| Segment | B2C |
| Funding / solidity | Cryptospend Pty Ltd, trading as Wayex (formerly CryptoSpend), is an Australian company founded in 2018, the first to launch a native crypto Visa card in Australia. Registered with AUSTRAC as a Digital Currency Exchange. |
| MiCA / License status | AUSTRAC Digital Currency Exchange (DCE)AFSL 448066 (Flexewallet Pty Ltd) Registered with AUSTRAC as a Digital Currency Exchange (DCE); prepaid Visa card issued by Flexewallet Pty Ltd (ABN 16 164 657 032, AFSL 448066) under licence from Visa. |
Strengths
- Australian-native crypto Visa card with a track record since 2018 and AUSTRAC registration
- No annual fee and zero Wayex foreign transaction fees
- Free digital card with Apple Pay and Google Pay; low one-time physical card cost
- No notable sovereignty advantage documented.
Weaknesses
- Available only to Australian residents and citizens (APAC), no EU/US/UK
- 1% crypto-to-AUD conversion fee on every spend and no cashback
- Custodial wallet and ATM withdrawals possible only in Australia
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Registered with AUSTRAC as a Digital Currency Exchange (DCE); prepaid Visa card issued by Flexewallet Pty Ltd (ABN 16 164 657 032, AFSL 448066) under licence from Visa.): reporting to authorities and freezes on order.
Verdict
Wayex is registered with AUSTRAC as a Digital Currency Exchange and the card is issued under AFSL 448066 (Flexewallet Pty Ltd), providing a recognised Australian regulatory framework; however the wallet is custodial and the service is limited to Australia only, with no protection or availability for EU residents.
Strongly custodial solution: crypto is held and converted by Wayex, with no user key control, mandatory full KYC and total dependence on the app and Visa infrastructure. Low sovereignty score.
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 Wayex Card a Visa or a Mastercard?
It is a Visa card, available in a digital version (free, in Apple Pay and Google Pay) and a physical version (one-time AUD 14.99), issued for the Australian market by Cryptospend Pty Ltd trading as Wayex.
What fees does the Wayex Card charge?
There are no annual fees and no Wayex foreign transaction fees, but a 1% crypto-to-AUD conversion fee applies to every spend, withdrawal and ATM withdrawal. There is no cashback.
Sources
- Official service page Network Visa · No annual fees · 0% Wayex foreign transaction fees · 1% crypto-to-AUD conversion fee · +14 Data verified on Jun 23, 2026
- coincodecap.com Wayex formerly CryptoSpend · Launched 2018 · First Australian crypto Visa card · 40 · +4 Data verified on Jun 22, 2026
- help.wayex.com 1% crypto-to-AUD conversion fee on card spend/ATM · Physical card AUD 14.99 one-time · Digital card free · 0% overseas FX fee · +2 Data verified on Jun 22, 2026
- todey.xyz Visa · Custodial · KYC required · Cashback 0% · +6 Data verified on Jun 22, 2026