Fiat24
Fiat24 / SR Saphirstein AG · Mastercard
Fiat24 is a Swiss on-chain banking protocol operated by SR Saphirstein AG, which holds a FINMA fintech license (Art. 1b Banking Act). Each account is represented by an ERC-721 NFT on the Arbitrum network, acting as the login credential: the account is non-custodial (the user controls the wallet holding the NFT), while identity and risk data sit off-chain. It provides a multi-currency account with a Swiss IBAN, a virtual Mastercard, P2P, crypto top-ups and currency exchange. Fees: 1% FX, ~0.4% on crypto top-ups, no account or card fee, 0% cashback. EU/EEA focus, US blocked.
Data & conditions
§ Amounts in USD/GBP are shown in the service's native currency.
| Network | Mastercard |
|---|---|
| Fund custody | Self-custody (funds in your control) |
| Issuance fee | Free |
| Annual fee | Free |
| Free ATM limit | €10,000 (Standard tier) |
| ATM withdrawal | Free |
| FX markup | 1% |
| Cashback | — |
| Chains | Arbitrum |
| On-chain settlement | Yes |
| Recovery model | Account come NFT ERC-721 nel wallet dell'utente |
| Contactless | Yes |
| Virtual card | Yes |
| KYC | Full |
| Privacy | 4/10 |
| Supported countries | EEA · 30+ countries |
| Funding / solidity | Fintech svizzero (SR Saphirstein AG), una delle poche licenze FINMA Art. 1b ottenuta nel 2021; protocollo bancario on-chain su Arbitrum. |
| Estimated net annual cost | €0/year |
| Regulator | FINMA (Svizzera) |
| Segment | B2C |
| Funding / solidity | Swiss fintech (SR Saphirstein AG), one of the few FINMA Art. 1b licenses, granted in 2021; on-chain banking protocol on Arbitrum. |
| MiCA / License status | Licenza fintech FINMA (Art. 1b Legge bancaria svizzera) FINMA fintech license (Art. 1b) |
Strengths
- FINMA-regulated fintech with a real Swiss IBAN
- Non-custodial NFT-based account on Arbitrum: the user keeps wallet control
- No monthly, issuance or annual fee; Apple/Google/Samsung Pay with crypto top-ups
- Self-custody: funds stay in your wallet — the platform cannot touch them.
Weaknesses
- 0% cashback and 1% FX markup on spending
- Virtual card only, Mastercard limited to individual accounts
- EU/EEA only, US blocked; no statements or tax documents; account cannot be reopened after closure
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (FINMA fintech license (Art. 1b)): reporting to authorities and freezes on order.
Verdict
The rating reflects a robust regulatory perimeter: a Swiss FINMA fintech license (Art. 1b), a real Swiss IBAN, a multi-currency account (EUR/CHF/USD/CNH) and full KYC, with Italy explicitly supported. From a protection standpoint, the lack of statements and tax documents, the inability to reopen an account after closure, and the self-custody model — which shifts key responsibility to the user without a traditional bank's safety net — weigh on the score.
Here Fiat24 stands out: the account lives as an ERC-721 NFT on Arbitrum in the user's wallet, settlement is on-chain, and funds stay under the user's own keys until payment — a level of self-custody rare for an account with a European IBAN. The sovereignty limit is the mandatory full KYC, with identity and risk data managed off-chain by the issuer, which reduces anonymity versus no-KYC alternatives.
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 Fiat24 really non-custodial?
Yes for funds: the account lives as an NFT in your Arbitrum wallet and you control the keys. Identity and KYC data are still managed off-chain by the issuer.
Does it have a real IBAN?
Yes: it provides a Swiss IBAN for a multi-currency account, under a FINMA fintech license.
Sources
- docs.fiat24.com Payment network · Blockchain · Custodial · Kyc · +2 Data verified on Jun 23, 2026
- medium.com Paesi num · Italia disponibile Data verified on Jun 23, 2026
- finews.com Azienda · Licenses & registrations · Paese Data verified on Jun 22, 2026
- todey.xyz Fx · Cashback · Atm · Regioni Data verified on Jun 22, 2026