Best Crypto Cards in Hong Kong 2026

Hong Kong offers a distinct advantage for crypto spenders that most of the world lacks: zero capital gains tax. When you buy a coffee with Bitcoin in New York or Berlin, you trigger a taxable event that complicates your filing. In Hong Kong, spending your long-term crypto holdings is generally tax-free. This regulatory reality changes how you should evaluate the cards on this list. You do not need to worry about the tax drag of high-frequency transactions. Instead, your primary concerns are the new stablecoin licensing rules effective since August 2025 and whether your bank will block transfers to these platforms.

The five cards in this roundup represent a shift away from the old prepaid model. We are moving toward on-chain spending where funds remain in your custody until the moment of purchase. For Hong Kong users, this means you can leverage the city's favorable tax laws while maintaining tighter control over your digital assets.

For a full list of crypto cards available in Hong Kong, see our Hong Kong crypto cards page.

At-a-Glance Comparison

The following table outlines the fee structures and reward potential for the top contenders in the market as of February 2026.

Card	Tiers Compared	Cashback	Annual Fee	FX Fee	Staking
Ether.Fi Cash Card	Core, Luxe, VIP	3-4% (wETH)	Free	1%	None to ~$7,100
Ready Card	Lite Card, Metal Card	0.5-3% (STRK)	Free	0%	None
Kolo Card	Standard	2% (BTC)	Free	0%	None
PAYY Card	Virtual PAYY Card, Light-Up Physical Card	None	Free	1%	None
COCA Card	Starter, Standard, Elite	1-8% (USD)	Free	0%	None to ~$30,000 COC

Ether.Fi Cash Card Review: Spending Against DeFi Collateral

Verdict: Best for DeFi natives who want to borrow against their assets rather than sell them.

The Ether.Fi Cash Card is a technical leap forward for users who want to keep their assets on-chain. It operates on the Scroll L2 network and connects to a non-custodial Gnosis Safe wallet. This architecture allows for a "borrow-on-swipe" model. You can spend fiat at a merchant while your crypto remains staked in DeFi protocols like eETH, generating yield until the moment settlement occurs.

Fees and Staking

The base Core tier is free and requires no staking. It offers a respectable 3% cashback in wETH. To unlock the 4% cashback rate, you must reach the VIP tier, which requires a substantial commitment of roughly $1,000,000 in ether.fi liquid staking products. The Luxe tier sits in the middle, requiring 15,000 ETHFI (currently ~$7,100) to maintain the 3% rate but adding benefits. The card charges a 1% foreign exchange fee, which Hong Kong users should factor in if they frequently travel to mainland China or Japan.

Rewards and Risks

Earning 3% in wETH is excellent, but the "borrow" mode introduces liquidation risk. If the market dips significantly, the smart contract may automatically sell your collateral to cover the debt. You must actively manage your health factor. For Hong Kong users, this borrowing mechanism is interesting. Since you are not selling the asset to spend it, you maintain your position. However, paying back the loan with crypto is a disposal event, though likely tax-free under current Hong Kong rules for personal investments.

Best for: sophisticated DeFi users who understand liquidation mechanics and want to preserve their ETH position.

Ready Card Review: Self-Custody with Account Abstraction

Verdict: Best for users who want high rewards without locking up capital in staking.

The Ready Card (formerly associated with Argent) uses account abstraction to keep funds in your wallet until the transaction happens. It solves the "prepaid" problem where you have to load a card and lose custody of your funds. The issuer, Kulipa, initiates the payment within parameters you authorize, but they never hold your keys.

Fees and Staking

There is no staking requirement to access the higher cashback tiers. Instead, you pay an upfront annual fee. The Metal Card costs 120 USDC per year. The Lite Card is free (aside from a $6.99 shipping fee) but offers lower rewards. There are no foreign exchange fees, which is a major benefit for Hong Kong residents shopping on international sites or traveling.

Rewards and Risks

The Metal Card offers 3% cashback paid in STRK tokens. This is where the risk lies. STRK is a volatile asset. A 3% return can vanish or double depending on the token's market performance. You are effectively betting on the Starknet ecosystem with every swipe. The card is strictly limited to USDC spending. With Hong Kong's new stablecoin licensing regime, you must ensure you have a reliable on-ramp for USDC, as some local platforms may prioritize licensed alternatives in the future.

Best for: High spenders who prefer an upfront annual fee over locking up thousands of dollars in volatile tokens.

Kolo Card Review: Memecoins and Global Travel

Verdict: Best for travelers and traders who want to spend memecoins directly.

Kolo distinguishes itself with its "Memepay" feature. It allows you to spend tokens like PEPE directly at the point of sale without manually swapping them first. The card uses a hybrid custody model and an AI-based routing engine to find liquidity across CEXs and DEXs in real time.

Fees and Staking

The card has no monthly fees and no staking requirements. The issuance fee is 10 USDC, which is credited back to your balance, making it effectively free. Foreign exchange fees are 0%, making it a strong contender for Hong Kong users who travel frequently within Asia.

Rewards and Risks

Kolo offers a flat 2% cashback in BTC. This is a solid, predictable reward structure compared to platform-specific tokens. However, the regulatory status is a concern. The card operates under a "testing regulatory regime" with a pending FinTech Lab license. Dynamic spending limits can be reduced to $0 without notice. For a primary card, this lack of stability is a significant drawback. Users in Hong Kong should also note that Kolo claims Travel Rule compliance, meaning your transaction data is shared with counterparties as required by local regulations.

Best for: Casual users who hold memecoins and want a secondary card for travel.

PAYY Card Review: Privacy and Zero-Knowledge Proofs

Verdict: Best for privacy advocates who prioritize anonymity over rewards.

PAYY is unique in this lineup. It operates on its own private blockchain network using zero-knowledge proofs to shield transaction amounts and balances. It is a self-custodial solution where the private key lives on your device.

Fees and Staking

There are no annual fees and no staking requirements. The card charges a 1% FX fee on non-USD transactions. Since the card is denominated in USDC, Hong Kong users spending in HKD will trigger this fee on every transaction.

Rewards and Risks

There are zero rewards. No cashback. No points. The value proposition is entirely privacy. The physical card is contactless-only, which can be an issue at older terminals in Hong Kong taxis or smaller shops that require a chip insert. The biggest friction point for Hong Kong users is funding. While the card is private, funding it from a Hong Kong bank account via a bridge or exchange will still leave a record at the bank level due to local KYC/AML strictness.

Best for: Users who demand on-chain privacy and are willing to sacrifice cashback to get it.

COCA Card Review: High Yield for High Stakers

Verdict: Best for whales who can afford the high staking requirements to unlock top-tier rewards.

COCA uses Multi-Party Computation (MPC) security, splitting the private key between you and their servers. This eliminates the single point of failure of a seed phrase but introduces vendor dependence. If COCA disappears, your funds are difficult to recover.

Fees and Staking

The base Starter tier is free and offers 1% cashback. To get the headline 8% cashback, you must stake 30,000 COC tokens (approximately $30,000 USD). This is a massive capital requirement. The card supports stablecoins like USDT and USDC.

Rewards and Risks

The 8% cashback is but it requires holding a volatile asset (COC) worth a luxury car. If the COC token price drops 20%, your 8% cashback is mathematically irrelevant. The card also offers 50% rebates on subscriptions like Netflix and Spotify. For Hong Kong users, the restriction to stablecoins is the main watch-out. You must ensure you are comfortable holding significant balances in USDT or USDC, bearing in mind the specific de-pegging risks associated with them.

Best for: High-net-worth individuals who are bullish on the COCA ecosystem.

Category Winners

Best No-Staking Option: Ready Card
The Ready Card wins here because it offers up to 3% cashback without forcing you to buy and lock up a volatile token. You pay a clear annual fee in USDC, and you know exactly what you are getting. The self-custody aspect is a major bonus for security.

Best for High Rewards: COCA Card-card)
If you have the capital and risk tolerance, COCA's 8% cashback is unbeatable. A user spending $5,000 a month could earn $400 in rewards. However, this math only works if the staked capital ($30,000+) retains its value.

Best for Hong Kong Travelers: Kolo Card-card)
With 0% FX fees and global Visa/Mastercard acceptance, Kolo is the most practical companion for trips to Japan, Thailand, or Europe. The 2% BTC cashback is a hard asset reward that ages better than most platform tokens.

Best Overall Innovation: Ether.Fi Cash Card
The ability to spend while your assets continue to earn yield in DeFi is the "holy grail" of crypto finance. It maximizes capital efficiency. You are not choosing between spending and investing; you are doing both.

Final Verdict

The market has split into two distinct directions: high-staking rewards cards (COCA) and DeFi-integrated utility cards (Ether.Fi, Ready).

For most Hong Kong users, the Ready Card-card) offers the best balance of safety and utility. The self-custody model aligns with the ethos of crypto, and the fee structure is transparent. You avoid the "golden handcuffs" of staking thousands of dollars in a small-cap token.

If you are deeply integrated into the Ethereum ecosystem, the Ether.Fi Cash Card is superior. It allows your capital to remain productive. In a jurisdiction like Hong Kong with no capital gains tax, the friction of managing these DeFi positions is purely operational, not tax-related.

Watch the stablecoin space closely in 2026. As the HKMA issues the first batch of stablecoin licenses in March, cards that support these compliant assets may offer smoother banking integration than those relying solely on offshore USDT.

Frequently Asked Questions

Do I have to pay tax when I buy coffee with crypto in Hong Kong?
Usually, no. Because Hong Kong does not have a capital gains tax, spending crypto you bought as a personal investment is generally tax-free. However, if you are a professional trader using your trading stock to fund the card, those gains might be viewed as business income and taxed accordingly.

Can I link my Hong Kong bank account to these crypto cards?
Yes, you can typically fund the associated wallets via the Faster Payment System (FPS) or standard bank transfers to an exchange, then move funds to the card. While the government encourages banks to work with crypto firms, some banks still perform heavy checks on transfers to and from crypto platforms.

Why did my crypto exchange stop working in Hong Kong?
Hong Kong introduced a strict licensing regime for crypto platforms in 2023 and 2024. Many exchanges chose to stop serving Hong Kong users rather than apply for a local license. You must ensure your card provider or the exchange you use to fund it is legally allowed to operate in the city.

Is it safe to stake $30,000 for a crypto card?
Staking large amounts for card tiers carries significant risk. While the cashback rates are high, the value of the staked token can drop. If the token price falls by 50%, the loss in capital far outweighs any cashback you earn from spending.

What happens if a self-custody card provider goes out of business?
With cards like Ready or Ether.Fi, your funds remain in your own wallet or smart contract. If the card issuer shuts down, the card will stop working, but you will not lose your crypto assets. This is the primary advantage over custodial cards.