FG Card

FG Card Visa/Mastercard Debit: Integrated Crypto Spending Within Educational Ecosystem

Basic Information

FG Card is an upcoming crypto debit card integrated within the broader FG (FeelGrow) ecosystem - a platform that uniquely combines a learning community, digital wallet, and payment card in one mobile app. Developed by AEER Platform Inc., a Delaware-based company founded in 2021, FG aims to simplify the crypto experience by enabling users to learn about cryptocurrencies, manage their assets, and spend them in everyday life.

The card is designed to let users spend their cryptocurrencies for everyday purchases through major payment networks. While the specific card network hasn't been officially disclosed, the claim of acceptance at "millions of locations worldwide" suggests either Visa or Mastercard backing.

Rewards and Benefits

Unlike many competing crypto cards, FG doesn't offer traditional percentage-based crypto cashback. Instead, it rewards users through its FG Points loyalty system:

• 100 FG Points awarded upon card activation
• 100 FG Points awarded for each successful referral
• Additional points earned for app engagement and other activities
• Points can be redeemed for discounts, coupons, vouchers, and other rewards within the FG ecosystem

A key differentiator is that FG doesn't require users to stake tokens or pay subscription fees to access premium features. All users receive the same benefits regardless of portfolio size or platform engagement.

FG Points System

The FG Points loyalty program serves as the platform's primary reward mechanism:

• 50 points for new user registration
• 100 points for opening an FG Card
• 100 points per successful referral
• Additional points for time spent in the app and other activities

FG describes the points program as "the first step towards including our community in the future success of FG," suggesting potential future value beyond immediate rewards, possibly including token or equity participation opportunities.

Fees and Limits

While FG advertises "high payment and cash withdrawal limits" as a key feature, specific numbers have not been published. Similarly, the fee structure has not been publicly disclosed yet.

Card Tiers and Options

FG offers a single card tier with the same benefits for all users, which is unusual in the crypto card market where tiered structures based on token staking are common.

Top-Up Methods

FG Card enables users to spend supported cryptocurrencies (Bitcoin, Ethereum, ERC-20 tokens, Ripple, Cardano, and others) directly from the FG non-custodial wallet via the FG mobile app, with crypto converted to local fiat currency in real time at the point of sale. There is no requirement to pre-load or transfer funds to a custodial account before spending, as the card uses on-demand conversion when a transaction occurs. The process does not require moving assets from self-custody to the card provider until the moment of purchase, maintaining user control over private keys up to that point. Details regarding conversion fees, time delays, minimum or maximum transaction amounts, and specific fiat currencies supported are not publicly disclosed. All top-up and spending functions are managed through the FG app, with no support for traditional bank transfers or fiat deposits.

Self-Custody Hybrid Custody

FG Card uses a hybrid custody model: users manage and store their crypto securely in a non-custodial wallet where they control their private keys, but to make purchases, crypto is converted to fiat at the point of sale and held by the card issuer for transaction settlement. This means users maintain full control of their assets up until the moment they spend, after which the converted funds are managed by the card provider. If the provider were to cease operations, users would still retain access to their crypto in the FG Wallet, but any fiat balance created for pending or completed card transactions could become inaccessible. This model offers strong self-custody for storage and management, while enabling seamless real-world spending, but it does introduce reliance on the card issuer for the fiat leg of each transaction. Users should be mindful of crypto market volatility before converting and the lack of insurance or traditional bank protections on fiat balances. Overall, it balances user control and convenience, though it is not fully non-custodial for the entire payment process.

Supported Currencies and Conversion

Supported Cryptocurrencies

The FG Wallet supports several major cryptocurrencies that will presumably be spendable via the card:

• Bitcoin (BTC)
• Ethereum (ETH) and ERC-20 tokens
• Ripple (XRP)
• Cardano (ADA)
• Other cryptocurrencies (full list not published)

Supported Fiat Currencies

Specific fiat currencies are not explicitly listed, but the card likely supports major currencies where the card network operates.

Conversion Process

FG Card converts crypto to local fiat currency at point of sale, enabling real-time spending. The exact conversion mechanism, including spread or markup details, has not been published.

Geographic Availability

While the FG app and wallet are available globally, specific card availability has not been officially disclosed. Standard restrictions for sanctioned countries likely apply, but no detailed information about regional variations or specific country eligibility has been published.

Compliance and Security

Security Features

FG implements several security measures:

• Bank-level encryption
• Biometric access controls
• Two-factor authentication (2FA)
• Non-custodial wallet architecture where private keys remain on the user's device
• Ability to lock/unlock card via app (presumed)

Custody Model

FG Wallet is non-custodial, meaning "your private keys never leave your device." However, the card likely requires some form of custodial conversion for processing transactions, though the specific mechanism isn't detailed.

KYC Requirements

KYC will be required for card issuance, though specific requirements have not been published.

Regulatory Structure

• Corporate Entity: AEER Platform Inc., registered in Delaware, USA (headquarters at 8 The Green Ste A, Dover, DE 19901)
• License Types: Specific licenses not publicly disclosed; likely operates as a Money Service Business (MSB) in the US for crypto services
• Card-Issuing Bank: Not yet announced; FG will partner with a licensed financial institution to issue the card
• Jurisdiction-Specific Restrictions: Not publicly detailed; will likely vary based on the issuing partner's licenses

FG's regulatory approach appears to be partnership-based: AEER Platform provides the front-end and crypto services, while the card will be issued under a bank or Electronic Money Institution license in the appropriate jurisdiction.

Technical Details

Wallet Integration

FG Card integrates with the platform's non-custodial crypto wallet, allowing users to manage their assets and spending in one application. This integration enables seamless conversion from crypto to fiat at the point of sale.

Mobile Wallet Support

The card is compatible with both Apple Pay and Google Pay for contactless payments, enabling users to spend their crypto assets without needing the physical card.

Banking Features

FG does not function as a traditional bank and does not offer conventional banking services:

• No personal checking or savings accounts
• No IBAN or account/routing numbers for direct deposits or transfers
• No support for traditional payment rails like SEPA, SWIFT, or ACH
• No interest-bearing accounts or fiat balances
• No business banking features or multi-user controls

User Experience

Mobile App

• Available on iOS (4.8/5★ with over 900 ratings) and Android
• Integrated wallet, community, educational content, and card management
• Clean, intuitive interface praised by users

User Feedback

• Positive feedback on app design, security features, and educational content
• Users appreciate the all-in-one approach and community features
• No significant negative feedback reported for the wallet functionality
• Card-specific feedback unavailable as the card has not launched yet

Support Channels

• In-app chat support
• Email support

Best Suited For

• Crypto beginners who value educational content alongside practical spending tools
• Casual crypto users who prefer simplicity over complex tiered reward structures
• Mobile-first users who appreciate Apple Pay and Google Pay integration
• Community-oriented individuals who value the social and educational aspects of the platform
• Users resistant to staking requirements who want equal benefits without locking up assets

Pros and Cons

Pros

• No staking requirements or tiered structure - equal benefits for all users
• Integration with non-custodial wallet provides greater security and control
• Apple Pay and Google Pay compatibility enhances convenience
• FG Points system rewards multiple forms of engagement, not just spending
• Educational content and community features provide added value beyond payments

Cons

• Limited transparency on fees, limits, and supported regions
• No traditional crypto cashback rewards (points-based system instead)
• Still in waitlist phase with no confirmed launch date
• No traditional banking features or fiat on/off-ramps
• Unproven track record for card functionality (as it hasn't launched yet)

Conclusion

FG Card represents an innovative approach to crypto spending by integrating it within a broader educational and community-focused ecosystem. Unlike many competitors that offer tiered rewards based on token staking, FG provides a single card with the same benefits for all users, focusing on accessibility and ease of use rather than complex reward structures.

The card's standout features include its seamless integration with the FG app ecosystem, compatibility with Apple Pay and Google Pay for contactless payments, high spending and withdrawal limits, and the unique FG Points loyalty system that rewards users for engagement across the platform. The non-custodial nature of the FG Wallet adds a security advantage, giving users control over their crypto keys while still enabling convenient spending.

However, significant limitations exist in the current information available. With the card still in waitlist phase, crucial details about fees, exact limits, supported countries, and the card-issuing partner remain undisclosed. This lack of transparency makes it difficult to fully evaluate the card's competitiveness against established options in the market.

For users who value an integrated approach to crypto – learning, community engagement, and spending in one application – FG Card offers a promising option, particularly for those who prefer not to stake assets for premium benefits. However, those seeking maximum cashback percentages or detailed transparency on fees may want to wait for more information before committing.

Additional Information

Corporate Background

AEER Platform Inc., the company behind FG, was founded in 2021 with an initial focus on EdTech/fintech. The FG app has evolved to combine educational content with practical crypto tools, positioning itself as a gateway for mainstream users to enter the crypto space.

Potential Future Developments

While not explicitly confirmed, FG's language about including the community in its future success hints at possible developments such as:

• A native token that might provide additional utility
• Some form of profit-sharing or equity participation for loyal users
• Enhanced integration between the educational content and spending features

These possibilities remain speculative until officially announced by FG.