Pera Card
Pera Wallet LDA · Mastercard
Pera Card is a non-custodial virtual Mastercard built by Pera Wallet (Pera Wallet LDA) in partnership with Immersve, a Mastercard principal member that acts as issuer. It lets users spend Algorand-native USDC (USDCa) at any Mastercard merchant via Apple Pay and Google Pay: funds stay in the user's own on-chain wallet address until the moment of payment, when they are converted to local currency at point of sale. It offers 2% cashback in USDC on eligible purchases (5 USDC minimum) and applies only the standard 1% Mastercard network FX fee on currency conversion; there is no issuance or annual fee. It cannot be used at ATMs and is virtual-only. NOTE: some precise commercial figures (e.g. spending limits, any ATM fees) are not publicly documented and are set to 0; at verification time the product was in a relaunch phase ("Back Soon"). The founding year of the issuer/company 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 | Mastercard |
|---|---|
| Fund custody | Self-custody (funds in your control) |
| Issuance fee | Free |
| Annual fee | Free |
| ATM withdrawal | Free |
| FX markup | 1% |
| Cashback | 2% in USDC · Nessuno |
| Chains | Algorand |
| On-chain settlement | Yes |
| Contactless | Yes |
| Virtual card | Yes |
| KYC | Full |
| Privacy | 6/10 |
| Supported countries | UK, EEA, APAC |
| Estimated net annual cost | €0/year |
| Regulator | Financial Markets Authority (FMA) / Department of Internal Affairs - New Zealand |
| Segment | B2C |
| MiCA / License status | Mastercard Principal Member (via Immersve) Immersve Limited (NZBN 9429050083725) is a registered Financial Services Provider in New Zealand and a Mastercard principal member; it issues the card in the jurisdictions where it is licensed. |
Strengths
- Non-custodial: USDCa funds stay in the user's own Algorand wallet until payment, with free withdrawal and no approvals needed
- 2% cashback in USDC on eligible purchases and no issuance or annual fee
- On-chain transparency: balances and transactions settle instantly on the Algorand blockchain
- Self-custody: funds stay in your wallet — the platform cannot touch them.
Weaknesses
- Virtual card only, with no ATM cash withdrawal
- Supports exclusively USDC on Algorand (USDCa): no ALGO, BTC or other assets/chains
- Limited geographic availability and product in a relaunch phase at verification time
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Immersve Limited (NZBN 9429050083725) is a registered Financial Services Provider in New Zealand and a Mastercard principal member; it issues the card in the jurisdictions where it is licensed.): reporting to authorities and freezes on order.
Verdict
Limited protection: the card is non-custodial, so USDCa funds stay under the user's control in their own Algorand wallet until payment, reducing counterparty risk. Issuer Immersve Limited is a registered Financial Services Provider in New Zealand and a Mastercard principal member, but KYC is full and the product was in a relaunch phase at verification time.
Good sovereignty: funds stay on-chain in the user's own Algorand address until the moment of payment, with free withdrawal and no issuer approvals. Limits: full KYC is mandatory and only USDCa on Algorand is supported.
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 Pera Card custodial?
No. It is a non-custodial card: USDCa stays in the user's own on-chain address on Algorand and can be withdrawn at any time without issuer intervention; conversion to local currency happens only at the moment of payment.
Which cryptocurrencies and networks does Pera Card support?
Only Algorand-native USDC (USDCa). You cannot top up directly with ALGO, BTC or other assets, and the only supported chain is Algorand.
Sources
- genfinity.io Supported currencies · Italia disponibile · Regioni Data verified on Jun 23, 2026
- immersve.com Regulator · Regulatory framework · Regolamentazione en · Issuer Data verified on Jun 23, 2026
- algorand.co Issuer · On-chain settlement · Payment network · Regioni Data verified on Jun 22, 2026
- cryptocardhub.com Cashback · FX markup · Card issuance fee · Annual card fee · +1 Data verified on Jun 22, 2026
Show 1 more source
- todey.xyz Custodial · Payment network · Blockchain · Regioni · +1 Data verified on Jun 22, 2026