Bleap Card

Bleap Mastercard Debit Card Review: Fees, Rewards & Availability

Basic Information

Bleap Card is a non-custodial crypto debit Mastercard that allows users to spend cryptocurrencies at merchants worldwide without conversion fees. Unlike traditional crypto cards that require users to deposit assets into custodial accounts, Bleap's approach uses Account Abstraction and Multi-Party Computation (MPC) technology to maintain user control of private keys while enabling seamless spending.

Rewards and Benefits

Cashback Program

Bleap Card offers a straightforward 2% cashback program on all eligible purchases, with rewards paid in USDC stablecoin. The cashback is capped at 10 USDC monthly and is credited after transactions finalize, with a minimum 1 USDC required for withdrawal.

Key features of the cashback program:

• 2% cashback on all eligible purchases
• Rewards paid in USDC stablecoin
• Monthly cap of 10 USDC (can be increased through referrals)
• Cashback credited after transactions finalize
• Minimum 1 USDC required for withdrawal
• Excludes money transfers, financial accounts, quasi-cash transactions, government services, and utilities

The "Cashback Boost" referral program increases the monthly cashback cap by $5 for 3 months per referred user who completes KYC verification.

Yield Generation

Bleap Card enables users to earn yield on idle balances through DeFi "Earn" vaults. The platform currently markets up to 20% APY on digital USD, GBP, and EUR, though these rates are dynamic and product-dependent. Historical and typical rates have been approximately 11% APY on USD stablecoins and 5% APY on EUR stablecoins.

Yield generation features include:

• Up to 20% APY on digital USD, GBP, and EUR (dynamic rates, product-dependent)
• Historical/typical rates: approximately 11% APY on USD stablecoins and 5% APY on EUR stablecoins
• No locking period required
• Yield generated through DeFi "Earn" vaults
• Funds remain accessible for spending at any time

Additional benefits include:

• EUR/GBP bank transfer details (SEPA/FPS) for deposits and withdrawals
• No staking requirements (no proprietary token needed)
• Non-custodial wallet integration (user retains control of private keys)

Fees and Limits

Bleap Card fees are structured around a transparent, zero-fee model for most transactions, with no monthly or annual charges. The card operates with zero conversion fees for crypto-to-fiat transactions and no foreign exchange markup.

Note: Some older Bleap marketing materials may reference €200/month ATM withdrawal limits; the current marketed allowance is €400/month (or $400/month).

The conversion process occurs in real-time at the point of sale with no spread or markup, making it transparent and cost-effective for users.

Card Tiers and Options

Bleap offers a single card tier with multiple physical options:

All card options share the same benefits and fee structure, with the primary difference being the physical form factor. The exclusive 17g metal card is listed as "coming soon" and may not yet be broadly available.

Top-Up Methods

Bleap Card uses a non-custodial model, so no pre-loading or custodial transfer is required—users retain full control of their crypto in a self-custodial wallet at all times. When making a purchase, supported cryptocurrencies (including BTC, ETH, major stablecoins, and select meme coins) are converted to fiat (USD, EUR, GBP) instantly and automatically at the point of sale with no conversion fees or FX markups. Top-up via traditional fiat is possible through the app or website using SEPA bank transfer (EUR/GBP, 0% fee) or card/Apple Pay (EUR, GBP, USD, SEK, DKK, CHF, PLN, HUF, BGN, RON, CZK, NOK, with a 1% processing fee). There are no minimum or maximum top-up amounts for crypto spending, but fiat deposit compliance tiers apply for large purchases (>€5,000/€10,000 for cards, >€15,000/€30,000 for bank transfers). Funds remain in the user's wallet until a transaction occurs, so no custody transfer or waiting period is required for crypto-funded spending.

Self-Custody True Self-Custody

Bleap Card uses a true self-custody model, letting users keep full control of their crypto assets and private keys at all times through a non-custodial wallet powered by Account Abstraction and MPC technology. Funds remain in the user's wallet until the moment of purchase, when crypto is instantly converted to fiat for payment without any need to pre-load or transfer assets to the provider. This means users don’t have to trust Bleap with their funds, and if Bleap ceased operations, users would still have access to their crypto through their own wallet. The setup gives users strong security and independence compared to custodial cards, though it does require passing KYC and relies on the security of both the user’s device and Bleap’s server for MPC key shares. One limitation is that users don’t manage a traditional seed phrase, but overall, the approach prioritizes user control and minimizes third-party risk. This model is ideal for those who want to spend crypto directly while retaining full ownership and flexibility over their assets.

Supported Currencies and Conversion

Cryptocurrencies

Bleap supports a range of cryptocurrencies including:

• Major coins: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), Polygon (MATIC), Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), Litecoin (LTC)
• Stablecoins: Dai (DAI), Tether (USDT), USD Coin (USDC), EURA
• Meme coins: Dogecoin (DOGE), PEPE, Floki, Shiba Inu, BONK, and others

Fiat Currencies

• Primary accounts: Digital USD, EUR, and GBP (denominated in stablecoins)
• Card spending: Over 135+ local currencies worldwide (standard Mastercard currencies)

Top-up Currencies

• Card/Apple Pay loads available in: EUR, GBP, USD, SEK, DKK, CHF, PLN, HUF, BGN, RON, CZK, NOK
• Bank transfers support: EUR & GBP

Conversion Process

Crypto is converted to fiat at the moment of purchase at real market rates with zero spread. Users can choose which currency balance to draw from (USD, EUR, or GBP stable). The app shows balances in multiple currencies with clear labeling as "Digital USD," "Digital EUR," etc.

Geographic Availability

Bleap Card is available to residents of the European Economic Area (EEA) and Switzerland, subject to nationality restrictions. The card program maintains a restricted nationalities list that renders certain individuals ineligible regardless of their country of residence.

Europe

EEA Countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden

Other European Countries: Switzerland

Restricted Nationalities

The following nationalities are ineligible for Bleap Card regardless of residence: United States of America (USA), United Arab Emirates (UAE), Turkey, and other jurisdictions as specified in Bleap's restricted nationalities list. Individuals holding passports from these countries cannot obtain Bleap Card even if they legally reside in an EEA country or Switzerland.

Bleap has announced plans to expand to other regions such as Latin America in the future, though specific timelines have not been publicly detailed.

Banking & Financial Services

Bleap Card provides EUR and GBP bank transfer details (SEPA/FPS) for on-ramp and off-ramp transactions, allowing users to fund their wallets and withdraw fiat currency to traditional bank accounts. These transfer details include beneficiary name, reference, and IBAN for seamless integration with existing banking infrastructure.

Important Note: Bleap Finance explicitly states that it does not issue e-money, operate payment accounts, hold client assets, or provide custody services. The card operates through a direct-debit authorization from the user's self-custodial wallet. While users receive personal bank transfer details for deposits and withdrawals, this should not be confused with a traditional payment account or bank account service.

Banking Features

• EUR IBAN: Personal IBAN details for SEPA transfers
• GBP Account Details: FPS-compatible details for UK transfers
• On-ramp: Bank transfers (SEPA/FPS) with 0% processing fee
• Off-ramp: Crypto-to-bank withdrawals with 0% fee
• Account Type: Non-custodial wallet with bank transfer rails (not a traditional payment account)

Regulatory Structure and Licensing

Bleap Card operates under a dual-entity structure that separates the card issuance function from the technology platform and wallet services.

Card Issuer

• Entity: Unlimit EU Ltd
• Type: Electronic Money Institution (EMI)
• Regulator: Central Bank of Cyprus
• Status: Authorised EMI
• Role: Issues the Bleap Mastercard under its issuer terms and conditions

Card Programme Provider

• Entity: Bleap Finance Sp. z o.o.
• Jurisdiction: Poland
• Registration: Virtual Currency Service Provider in Poland (registration number RDWW-1009)
• Role: Provides the card programme, mobile app, and non-custodial wallet technology
• Regulatory Framework: Operates under EU financial regulations and upcoming MiCA framework

This structure allows Bleap to combine the regulatory compliance of a licensed EMI (Unlimit EU) with the innovative non-custodial wallet technology developed by Bleap Finance, while maintaining the principle that users retain control of their private keys.

Compliance and Security

Non-Custodial Model

Bleap's key differentiator is its non-custodial approach to crypto card spending:

• Uses Account Abstraction and Multi-Party Computation (MPC) technology
• User's device and Bleap's server hold key shares in a 2-of-2 multi-sig setup
• No seed phrase for users to manage
• Users maintain control of their private keys while enabling spending
• Card transactions use direct-debit authorization from the self-custodial wallet

Compliance Requirements

• Full KYC required (government-issued ID, live selfie, residence information)
• Registered as Virtual Currency Service Provider in Poland (registration number RDWW-1009)
• Operates under EU financial regulations and upcoming MiCA framework
• Subject to nationality restrictions (certain passport holders ineligible regardless of residence)

On-ramp (Buy) Compliance Tiers:

• Card purchases greater €5,000 require proof-of-address
• Greater €10,000 requires source-of-funds
• For bank-transfer purchases, thresholds double (€15,000/€30,000)

Off-ramp (Sell) Compliance Tiers:

• Cash-out greater €12,500 requires proof-of-address
• Greater €25,000 requires source-of-funds

Security Features

• EMV chip security
• PIN protection for in-person transactions
• Mastercard's Zero Liability policy
• Real-time transaction alerts
• Instant card freeze/unfreeze via app
• Customizable spending limits
• 3D Secure for online purchases
• Biometric locks (fingerprint/FaceID)

No specific crypto insurance is mentioned; the card relies on its self-custody model for security. The partnership with Mastercard implies PCI-DSS compliance.

Technical Details

Bleap Card uses innovative blockchain technology to enable non-custodial spending:

• Account Abstraction: Allows for smart contract wallets with programmable transaction authorization
• Multi-Party Computation (MPC): Cryptographic technique that distributes key shares between user device and Bleap server
• Settlement Process: Transactions are settled instantly at point of sale
• Integration Method: Direct connection between self-custodial wallet and payment network via direct-debit authorization
• Wallet Architecture: 2-of-2 multi-signature setup requiring both user and Bleap authorization

The technical implementation eliminates the need for users to deposit funds into a custodial account while still enabling seamless spending at merchants worldwide.

User Experience

Bleap provides a mobile app available for iOS and Android, plus a web interface with the following features:

• Wallet management for multiple cryptocurrencies
• Real-time transaction monitoring
• Yield earning through "Earn" vaults
• Card management (freeze/unfreeze, limits)
• External wallet connection capabilities

Support channels include:

• In-app chat
• Email support ([email protected])
• Online Help Center
• Community channels (Telegram, X/Twitter)

User feedback has been mixed:

• Positive: Seamless spending, cashback rewards, non-custodial aspect, fast onboarding
• Negative: Customer support issues, app bugs, occasional transaction delays

For app glitches, users report clearing cache or restarting the app can help resolve issues.

Best Suited For

• Privacy-Focused Crypto Users who want to maintain self-custody while spending crypto in everyday life
• European Stablecoin Holders who want to earn yield on their assets while having spending flexibility
• Frequent International Travelers within Europe who want to avoid FX fees and currency conversion costs
• DeFi Enthusiasts who value non-custodial solutions and want to earn yield on idle balances
• Crypto Newcomers in Europe looking for a simple way to use digital assets without complex custody arrangements

Pros and Cons

Pros

• True non-custodial model gives users control over their private keys
• No monthly or annual fees for card usage
• 2% cashback on eligible purchases with no staking requirements
• Yield generation on idle balances (up to 20% APY on digital USD/GBP/EUR)
• Zero conversion fees and no FX markup on international transactions
• Fee-free ATM withdrawals up to €400/month worldwide

Cons

• Limited to EEA and Switzerland residents with additional nationality restrictions
• 10 USDC monthly cashback cap is relatively low
• 1% processing fee for card/Apple Pay/Google Pay deposits
• As a newer service, occasional app stability issues reported
• Customer support can be slow to respond according to user feedback

Conclusion

Bleap Card is best suited for privacy-focused crypto users in Europe who value self-custody while seeking the convenience of everyday spending. The card represents an innovative approach to crypto spending with its non-custodial model that bridges the gap between blockchain assets and traditional payment networks. By eliminating the need to deposit funds with a custodial service, Bleap addresses a key concern for security-conscious crypto users while still providing the convenience of everyday spending.

The combination of 2% cashback, yield generation on idle balances (up to 20% APY), and zero-fee structure makes it one of the most cost-effective crypto cards available in 2025 for eligible European users. The EUR/GBP bank transfer details (SEPA/FPS) and support for multiple cryptocurrencies further enhance its utility as an all-in-one financial solution.

However, the geographic limitations, nationality restrictions, and relatively new service status mean that Bleap still has room to grow and improve, particularly in areas of customer support and app stability. As the company expands to new regions and refines its offering, it has the potential to become a leading player in the crypto card space, especially for users who prioritize self-custody and fee transparency.

Additional Information

While Bleap offers a non-custodial solution, users should understand that the 2-of-2 multi-sig setup means both the user's device and Bleap's server must authorize transactions. This differs from traditional self-custody where the user has exclusive control of private keys but offers a balance between security and usability.

The card's dark design with glow-in-the-dark feature provides a distinctive aesthetic that sets it apart from other crypto cards on the market. Physical cards are available in plastic versions, with an exclusive 17g metal card listed as "coming soon" according to the Google Play listing.

Bleap Finance was founded in 2023 by former Revolut managers, bringing fintech expertise to the crypto card space. The company's roadmap includes expansion to Latin America, though specific timelines and additional feature developments have not been publicly detailed.

The regulatory structure separates card issuance (handled by Unlimit EU Ltd, an EMI authorised by the Central Bank of Cyprus) from the technology platform and wallet services (provided by Bleap Finance Sp. z o.o. in Poland). This dual-entity approach allows Bleap to maintain its non-custodial model while meeting regulatory requirements for card issuance.