BasedApp Card

BasedApp Visa Debit Card Review: Fees, Rewards & Availability

Basic Information

BasedApp is a Singapore-based platform that bridges the gap between cryptocurrency and everyday spending through its Visa debit card. The card allows users to seamlessly spend their digital assets at any merchant accepting Visa without first needing to off-ramp crypto to a bank account. The platform combines wallet functionality, trading capabilities (via Hyperliquid integration), and spending features in one comprehensive app.

Important Status Update: In November 2025, BasedApp discontinued its card services in Singapore. Existing Singapore cardholders were required to withdraw funds by November 30, 2025, with cards closed on November 15, 2025. The platform has since launched a new card tier (Hype Card) available in other markets and continues to operate its wallet and trading services.

Virtual cards are issued instantly upon KYC approval, allowing immediate use through Google Pay, while physical cards are delivered internationally within 1-2 weeks. The card is designed to provide a frictionless experience for crypto users who want to utilize their digital assets for real-world purchases.

The BasedApp mobile application is now available on both the Apple App Store and Google Play Store, featuring a non-custodial wallet architecture where users maintain control of their private keys, while card funds are held in segregated accounts with institutional-grade security.

Rewards and Benefits

Points System

BasedApp uses a points-based loyalty system called "BasedApp Points" rather than direct cashback:

• Standard Card (Legacy): 4 points per USD spent (8 points per USD on subscriptions)
• Gold Card (Legacy): 6 points per USD spent (12 points per USD on subscriptions) - 1.5× the standard rate
• Hype Card: Points structure to be confirmed

Points are credited 14 days after card spend (settlement delay) and can be redeemed at tiered levels with increasing value:

• 5,000 points = 5 XSGD (0.3% effective cashback)
• 15,000 points = 25 XSGD (0.5% effective cashback)
• 30,000 points = 100 XSGD (1% effective cashback)

Gold members can achieve up to approximately 1.5% effective cashback at the highest redemption tier due to their accelerated points earning rate.

Unlike many competitors, BasedApp does not require staking of any native token to access card benefits or higher tiers.

Premium Benefits

The Gold Card (BasedGold Premium - Legacy tier) offered several exclusive benefits:

• Priority Pass Membership: 8 complimentary airport lounge visits per year (maximum 2 per quarter)
• Subscription Rebates: Up to $20 USD monthly rebate on eligible entertainment subscriptions (Netflix, Spotify, YouTube Premium, etc.)
• Conference Rebate: Up to $200 USD annual rebate on one crypto conference ticket
• Zero FX Fees: 0% foreign transaction fees (pure Visa exchange rates)
• Currency Choice: Option to select either USD or SGD as base currency
• Higher Limits: Significantly increased daily spending limit of up to $30,000 USD

Note: Following the Singapore wind-down, BasedGold subscribers received partial refunds for their memberships.

BasedApp also runs periodic referral campaigns offering bonuses (e.g., 10,000 points for both referrer and referee when a new user completes KYC and spends S$500).

Fees and Limits

BasedApp fees are structured around multiple card tiers with varying cost structures and spending capabilities.

Additional Fee Information:

• No per-transaction fees for card purchases
• No top-up fees when depositing crypto to BasedApp
• Withdrawals remain limited (feature planned but not currently enabled)
• Smart Convert feature automatically converts available crypto to cover transactions with a 1% fee
• Card portfolio funds cannot be converted into the trading wallet

The fee structure is notably competitive compared to many crypto cards, with BasedApp covering blockchain transaction fees for deposits and charging no top-up fees. The new Hype Card offers a more accessible entry point at $100 compared to the legacy Gold Card's $1,499 initial fee.

Card Tiers and Options

BasedApp currently offers the Hype Card tier, with additional tiers planned for launch around January 2026. Legacy Standard and Gold Card programs have been discontinued.

The Hype Card is positioned as an accessible entry point with a $100 fee and $90,000 monthly spending limit, targeting users who want global crypto spending capabilities. The virtual card option is available and is issued instantly upon KYC approval, allowing immediate use through Google Pay.

Note: BasedApp has indicated that additional card tier sign-ups will become available around January 2026, suggesting an expansion of the card program beyond the current Hype Card offering.

Top-Up Methods

Users must pre-load the BasedApp card by depositing supported stablecoins—USDC (on Hyperliquid Core, Solana, Arbitrum, Polygon) or XSGD (on Polygon PoS)—via the BasedApp mobile or web app. Deposited crypto is instantly converted 1:1 to the card's base fiat currency (USD or SGD) with a 1% crypto-to-fiat conversion fee and no deposit or gas fees (these are covered by BasedApp). This process requires transferring funds from the user's self-custody wallet to BasedApp's custodial wallet, meaning users relinquish custody to the card provider upon top-up. There is no waiting period—funds become available instantly, but only stablecoins are accepted; other cryptocurrencies must be swapped before deposit. Minimum and maximum top-up amounts are not explicitly stated, but spending is limited by daily card caps (S$3,000 for Standard, up to $30,000 USD for Gold), and withdrawals back to crypto or bank accounts are not currently supported.

Self-Custody Custodial

BasedApp's crypto card uses a fully custodial model, meaning all user funds are held and managed by the platform rather than directly by the user. When users deposit crypto to top up their card, these assets are instantly converted and secured by BasedApp's institutional-grade custody partner, Fireblocks, but users do not control the private keys at any stage. This setup allows for seamless spending and added conveniences like gasless deposits, but it also means users are dependent on BasedApp for access to their funds. If the provider were to cease operations, users would not be able to independently recover their assets. While this model offers strong security measures, regulatory compliance, and insurance on the custody infrastructure, it sacrifices the self-sovereign control that some crypto users may value. The approach is well-suited to those prioritizing ease of use and integration with traditional payment systems over direct asset control.

Supported Currencies and Conversion

Supported Cryptocurrencies

BasedApp focuses primarily on stablecoins and select cryptocurrencies for card top-ups:

• USDC on multiple networks:
  • Hyperliquid Core
  • Solana
  • Arbitrum
  • Polygon
• XSGD (Singapore Dollar stablecoin) on Polygon PoS
• SOL (Solana's native token) on Solana network

Supported deposit networks include Solana, Arbitrum, Polygon, and Hyperliquid. Other cryptocurrencies must be swapped to these supported assets before depositing.

Supported Fiat Currencies

• Singapore Dollar (SGD) - available for legacy card tiers
• US Dollar (USD) - available for legacy Gold Card and current Hype Card

Conversion Process

BasedApp offers several conversion options:

1. Manual Deposits: Users deposit supported crypto which is instantly converted to fiat balance at a 1% conversion fee
2. Smart Convert/Auto-Convert: Automatically converts available crypto assets at the time of card spend when card balance is insufficient (also with 1% fee)
3. Currency Conversion:
   • 1:1 conversion between stablecoins and corresponding fiat (USDC to USD, XSGD to SGD)
   • Foreign currency transactions converted at Visa exchange rates plus markup (1% for Hype Card, 1.5% for legacy Standard, 0% for legacy Gold)

All conversions happen in real-time at the point of deposit or transaction, with no delay in settlement to the card balance. Card portfolio funds cannot be converted into the trading wallet, maintaining separation between card and trading functionalities.

Geographic Availability

BasedApp card services are available across 160+ countries worldwide, with 70+ million merchant acceptance points. However, the platform has undergone significant geographic changes, particularly regarding Singapore operations.

Current Availability (Hype Card)

The Hype Card is marketed as available in 160+ countries worldwide, representing a significant expansion from the legacy card programs. This includes most major markets across multiple continents.

Legacy Card Availability (Discontinued Programs)

Standard Card (Discontinued):
The legacy Standard Card was limited to residents of Singapore, Hong Kong, and Malaysia. Following BasedApp's withdrawal from Singapore card services in November 2025, this tier is no longer available. Singapore cardholders were required to close their cards by November 15, 2025, and withdraw funds by November 30, 2025.

Gold Card (Discontinued):
The legacy Gold Card (BasedGold Premium) was available in 100+ countries worldwide before discontinuation, including most of Europe, Canada, Australia, New Zealand, Japan, South Korea, Taiwan, UAE, Brazil, and most of Southeast Asia.

Restricted Jurisdictions

Both legacy and current card tiers are unavailable in approximately 80 restricted jurisdictions, including:

• United States
• Mainland China
• Sanctioned countries: Afghanistan, Belarus, Cuba, Iran, Iraq, North Korea, Russia, Syria
• High-risk jurisdictions: Albania, Algeria, Bangladesh, and others

Restrictions are primarily due to regulatory and compliance requirements, with BasedApp adhering to international sanctions and local regulations regarding cryptocurrency usage.

Singapore Wind-Down Details

In November 2025, BasedApp discontinued its card services in Singapore following the withdrawal of its Payment Services Act (PSA) license application. Key timeline details:

• November 15, 2025: All Singapore-issued cards closed
• November 30, 2025: Final deadline for fund withdrawals
• New deposits and swaps: Suspended for Singapore users
• Asset conversion: Remaining balances above a threshold could be converted to USDC and sent to a linked self-custody wallet
• BasedGold refunds: Partial refunds issued to Singapore-based Gold Card subscribers

Regional Variations

• Legacy Standard Card was denominated in SGD for Singapore/Malaysia users
• Legacy Gold Card offered choice of either USD or SGD
• Hype Card currency options to be confirmed
• Singapore residents previously received annual fee waivers for the Standard Card

Regulatory Structure and Licensing

Card Issuer and Licensing

BasedApp Visa cards are issued through Xfers Pte. Ltd (operating as StraitsX), which holds a Major Payment Institution (MPI) license under the Monetary Authority of Singapore (MAS). This represents a partnership model where BasedApp provides the platform and user experience, while Xfers handles the regulated card issuance and payment processing.

BasedApp Regulatory Status

BasedApp itself operates as a cryptocurrency platform and wallet provider. In November 2025, the company withdrew its own Payment Services Act (PSA) license application with the Monetary Authority of Singapore and subsequently exited the Singapore card services market. This regulatory decision led to the discontinuation of card services for Singapore residents.

The platform continues to operate in other jurisdictions through its partnership with regulated third-party card issuers and payment processors, maintaining compliance with local regulations in each market where it operates.

Regulatory Compliance Framework

BasedApp adheres to international regulatory standards through:

• Partnership with MPI-licensed card issuer (Xfers/StraitsX)
• Compliance with international sanctions and anti-money laundering regulations
• Exclusion of approximately 80 restricted jurisdictions
• Mandatory KYC verification for all users
• Blockchain transaction monitoring through Chainalysis
• Adherence to payment services regulations in operating markets

The platform's regulatory approach emphasizes working with licensed partners rather than obtaining direct banking or payment institution licenses in each jurisdiction.

Compliance and Security

KYC Requirements

All users must complete mandatory KYC verification before card issuance:

• Global users: Identity verification through Sumsub (passport/ID, selfie, proof of address)
• Singapore residents (legacy): Option to verify via SingPass (government digital ID)
• Verification typically completed within hours to one day

Custody Model

BasedApp employs a hybrid custody architecture:

• Wallet: Non-custodial model where users maintain control of their private keys (as described in the iOS App Store listing)
• Card Funds: Held in segregated card accounts with institutional-grade security through Fireblocks
• Security Infrastructure: Utilizes MPC (multi-party computation) technology for secure key management
• Stablecoin Backing: USDC and XSGD are backed 1:1 by reserves held by their respective issuers

This dual approach allows users to maintain self-custody of their primary wallet holdings while card balances are secured through regulated custodial arrangements for payment processing compliance.

Security Features

• Card freeze/unfreeze functionality in app
• Transaction notifications
• EMV chip for secure transactions
• 3-D Secure for online payments
• Visa Zero Liability protection for unauthorized transactions
• Fireblocks institutional-grade custody for card funds
• MPC technology for key management

Compliance Partnerships

• Chainalysis: Blockchain transaction monitoring and compliance
• Sumsub: KYC verification services
• Fireblocks: Institutional-grade custody and security infrastructure
• Xfers/StraitsX: MPI-licensed card issuer and payment processor

Fund Protection

While card funds are protected through Fireblocks' security infrastructure and insurance, it's important to note that there is no government deposit insurance as this is not a bank deposit. The segregated account structure and institutional custody provide security, but users should understand the distinction between traditional banking protections and crypto-based card services.

Technical Details

Platform Architecture

BasedApp leverages several key technologies to deliver its service:

1. Account Abstraction: The platform uses Safe Core account abstraction technology to simplify the user experience, enabling features like social logins and gasless transactions.

2. Gasless Transactions: Through integration with Gelato's relay service, BasedApp covers gas costs for users when they deposit crypto, eliminating one of the common friction points in crypto spending.

3. Smart Convert/Auto-Convert: This feature automatically converts available crypto assets to cover transactions at the time of card spend when the card balance is insufficient, providing a seamless spending experience with a 1% conversion fee.

4. Trading Integration: The platform integrates with Hyperliquid for trading functionality, allowing users to trade and then directly spend profits via the card. However, card portfolio funds cannot be converted into the trading wallet, maintaining separation between these functionalities.

5. Non-Custodial Wallet: Users maintain control of their private keys for wallet holdings, while card funds are held in segregated custodial accounts for payment processing compliance.

Settlement Process

• Deposits are settled instantly into card balance
• Card transactions settle according to standard Visa processing times
• Points are credited 14 days after card spend (settlement delay)

Payment Priority

• Card draws from pre-loaded balance first
• If insufficient, Smart Convert/Auto-Convert can pull from other assets in BasedApp wallet (with 1% fee)
• User can manually top up card before transactions

Mobile Platform Availability

• iOS App: Now available on the Apple App Store
• Android App: Available on Google Play Store
• Web App: Accessible via mobile browsers

Mobile Wallet Integration

• Google Pay: Supported and functional
• Apple Pay: Status unclear due to conflicting official information
  • Help Center states Apple Pay is not available with full functionality targeted by Q4 2025
  • Other official marketing materials claim Apple Pay compatibility
  • Users should verify current Apple Pay status directly with BasedApp support

Upcoming Technical Features

• Withdrawal functionality to move funds from card back to crypto or bank (planned but not currently enabled)
• Direct bank deposit feature
• Multi-currency accounts in development
• Additional card tier sign-ups (around January 2026)

User Experience

Mobile Application

BasedApp offers native mobile applications on both major platforms:

• iOS App: Available on Apple App Store (launched 2024/2025)
• Android App: Available on Google Play Store
• Web App: Accessible via mobile browsers

Key Features:

• Card management (freeze/unfreeze, transaction history)
• Crypto deposits across multiple networks (Solana, Arbitrum, Polygon, Hyperliquid)
• Trading via Hyperliquid integration
• Points redemption (credited 14 days after spend)
• Account settings and KYC management
• Non-custodial wallet with user-controlled private keys

Support Channels

• In-app live chat support (Intercom)
• Email support ([email protected])
• Extensive help center with documentation at help.basedapp.io
• Active community engagement on social media
• Highly rated support (9/10 in independent reviews) with response times typically under an hour

Common User Feedback

Positive feedback:

• Seamless spending experience with auto-convert functionality
• Low fees compared to competitors
• Responsive customer support
• Gasless deposits removing friction
• Multi-network deposit support (Solana, Arbitrum, Polygon, Hyperliquid)

Negative feedback:

• Unclear Apple Pay support status (conflicting official information)
• Withdrawal functionality remains limited
• Singapore market exit created disruption for local users
• No ATM withdrawal functionality
• Card portfolio cannot be converted to trading wallet
• 14-day delay for points crediting

Language Support

English is the primary supported language, with possible Chinese support for certain markets.

Singapore Wind-Down User Experience

Singapore users experienced a structured wind-down process:

• Clear communication of November 15, 2025 card closure date
• November 30, 2025 deadline for fund withdrawals
• Option to convert remaining balances to USDC and transfer to self-custody wallet
• Partial refunds for BasedGold subscribers
• Suspension of new deposits and swaps

Best Suited For

• Stablecoin holders who want a frictionless way to spend their digital assets in everyday life without converting back to traditional banking
• International crypto users across 160+ countries who need global spending capabilities with competitive foreign transaction fees
• Active Hyperliquid traders who want to easily spend their trading profits without multiple platform transfers
• Users seeking accessible entry points who can benefit from the $100 Hype Card fee compared to premium card alternatives
• Multi-network crypto holders who maintain assets across Solana, Arbitrum, Polygon, and Hyperliquid ecosystems

Note: BasedApp is no longer suitable for Singapore residents following the November 2025 discontinuation of card services in that market.

Pros and Cons

Pros

• No staking requirements for card access, unlike many competitors that require native token staking
• Gasless deposits eliminate blockchain transaction fees for users
• Multi-network support (Solana, Arbitrum, Polygon, Hyperliquid) provides flexibility
• Integration with Hyperliquid trading creates a seamless ecosystem for trading and spending
• Auto-convert feature enables seamless spending without manual top-ups
• Accessible $100 entry point with Hype Card
• Broad geographic availability across 160+ countries
• Non-custodial wallet architecture for primary holdings

Cons

• Singapore card services discontinued (November 2025) - no longer available for Singapore residents
• Legacy Standard Card was limited to only three countries before discontinuation
• No ATM withdrawal functionality on any tier
• Withdrawal functionality remains limited (not currently enabled)
• Apple Pay support status unclear due to conflicting official information
• Card portfolio cannot be converted to trading wallet
• 14-day delay for points crediting after card spend
• Limited cryptocurrency support focused primarily on stablecoins
• Legacy Gold Card's high entry cost ($1,499) before discontinuation

Conclusion

BasedApp has established itself as an innovative crypto card solution that effectively bridges the gap between cryptocurrency holdings and real-world spending, though it has undergone significant changes in late 2025. The platform stands out for its user-friendly approach to crypto spending, offering gasless deposits, no top-up fees, multi-network support (Solana, Arbitrum, Polygon, Hyperliquid), and competitive conversion rates that make it cost-effective compared to many alternatives.

The platform has transitioned from a two-tier legacy system (Standard and Gold) to a new card program featuring the Hype Card at a $100 entry point with $90,000 monthly spending limits. This represents a more accessible offering compared to the legacy Gold Card's $1,499 initial fee, while maintaining competitive features like auto-convert functionality and broad geographic availability across 160+ countries.

However, the platform has experienced notable challenges. The discontinuation of Singapore card services in November 2025, following BasedApp's withdrawal of its PSA license application, represents a significant market exit that affected the platform's home market. Additionally, current limitations include the absence of ATM withdrawal functionality, restricted withdrawal capabilities for moving funds back to crypto or bank accounts, and conflicting official information regarding Apple Pay support.

BasedApp's hybrid custody model—combining a non-custodial wallet where users control their private keys with segregated custodial card accounts secured through Fireblocks—offers a balanced approach between self-sovereignty and regulatory compliance. The platform's integration with Hyperliquid trading and support for multiple blockchain networks creates a comprehensive ecosystem for users who actively manage crypto portfolios.

BasedApp is ideally suited for crypto-savvy individuals across 160+ countries who regularly hold stablecoins and want a frictionless way to spend them in everyday life. The Hype Card particularly appeals to users seeking an accessible entry point with global spending capabilities and multi-network deposit support. For active Hyperliquid traders and users who maintain assets across Solana, Arbitrum, Polygon, and Hyperliquid ecosystems, BasedApp represents an efficient bridge between the crypto economy and daily financial life.

Important Note: Singapore residents should seek alternative solutions following the November 2025 discontinuation of card services in that market.

Additional Information

Competitor Comparison

This section would benefit from updated comparison data reflecting the new Hype Card tier and recent market changes.

Technical Infrastructure

BasedApp's technical infrastructure combines multiple cutting-edge technologies:

• Account Abstraction: Safe Core technology for simplified user experience
• Gasless Relay: Gelato integration covering blockchain transaction fees
• Multi-Network Support: Deposits via Solana, Arbitrum, Polygon, and Hyperliquid
• Custody: Fireblocks institutional-grade security for card funds
• Wallet Architecture: Non-custodial design with user-controlled private keys
• Trading Integration: Direct Hyperliquid platform connectivity
• Compliance Monitoring: Chainalysis blockchain analytics
• KYC Verification: Sumsub identity verification services
• Card Issuance: Partnership with Xfers Pte. Ltd (StraitsX) - MPI licensed

The platform maintains separation between card portfolio and trading wallet functionalities, with card funds held in segregated accounts while wallet holdings remain under user control through private key management.