Fuse Card

Fuse Visa Prepaid Debit Card Review: Fees, Rewards & Availability

Basic Information

The Fuse Card is a virtual Visa prepaid debit card that enables users to spend USD Coin (USDC) stablecoins directly from their self-custodial Fuse Wallet. The card bridges on-chain crypto with real-world spending, allowing users to spend stablecoins "like cash" without requiring traditional bank cash-outs.

What distinguishes the Fuse Card is its self-custodial approach – users maintain control of their funds until the moment of purchase, combining the security benefits of cryptocurrency with the convenience of traditional payment cards. The Fuse Card operates through a dual-account structure: a Main Account for general wallet operations and a dedicated Card Account specifically for card spending, with only USDC in the Card Account available for purchases.

Rewards and Benefits

The Fuse Card does not offer a traditional cashback or rewards program on purchases. Instead, its benefits focus on fee avoidance and ecosystem integration:

• No Fee Structure: Zero fees for issuance, monthly maintenance, transactions (domestic and international), and foreign exchange
• Referral Program: $5 + $5 referral reward when an invited user activates their Fuse Card (launched July 2025)
• Ecosystem Integration:
  • Self-custodial design (funds remain in user control until spent)
  • Integration with Fuse Earn (yield-earning feature powered by Drift and Kamino)
  • Virtual US bank accounts for receiving ACH transfers (converts to USDC)
  • EUR IBAN available for SEPA transfers

Fuse Plus Benefits

Users who deposit at least $100 USDC into Fuse Earn (not a fee; deposit remains user-owned and earns yield) qualify for Fuse Plus, which provides:

• Free Solana network fees (all gas fees covered by Fuse, subject to reasonable usage limits)
• Enhanced off-ramp limits: withdraw up to $25,000 USDC per month to bank accounts (vs. $1,000 for free plan)
• Priority customer support (coming soon)

Fees and Limits

The Fuse Card fees are structured around a zero-fee model for card usage, with minimal costs only for off-ramping to traditional bank accounts.

Spending Limits

Conversion Process

When a purchase is made, the exact amount of USDC is converted from the Card Account to fiat to settle the transaction:

• Real-time conversion at point of sale
• Standard Visa exchange rates apply with 0% additional markup
• Merchant receives payment in their local currency
• Transactions shown in USD in the app
• Some merchants may place temporary holds for tips or upcharges that clear later

Important Account Structure

Only USDC held in the Card Account can be spent with the Fuse Card. Withdrawals from the Card Account back to the Main Account are subject to a 5-minute security timelock for added protection.

Card Tiers and Options

Both tiers offer the same core self-custodial design where funds remain in user control until spent, zero transaction fees (domestic and international), and the ability to make purchases anywhere Visa is accepted.

Top-Up Methods

Fuse Card does not require traditional top-ups or pre-loading; instead, users spend directly from their self-custodial Fuse Wallet, with the exact amount of USDC (on Solana) deducted in real-time at the moment of purchase. There are no top-up fees, conversion fees, or transaction fees, and users maintain full custody of their funds until a transaction occurs—no transfer of assets to the card provider is required beforehand. The process is managed exclusively through the iOS Fuse Wallet app, with Android support planned, and the card supports only USDC (Solana) for spending. The only key limitation is the $2,000 daily spending cap, and the card is currently available only to residents of the US (excluding NY, FL, AK, LA) and Argentina. All conversions from USDC to fiat occur instantly at the point of sale using standard Visa exchange rates, with no delays or minimum/maximum top-up requirements.

Self-Custody True Self-Custody

Fuse Card uses a true self-custody model where users keep full control of their crypto assets, including private keys, within the Fuse Wallet until the moment of purchase. When a transaction is made, the exact USDC amount is converted in real time to fiat to settle the purchase, with funds never transferred to the card issuer beforehand. This setup means that even if the card provider or partner bank ceased operations, users would retain access to their assets through their self-custodial smart contract wallet. The smart contract-based security model enforces spending limits and adds time-locks for extra protection, while eliminating single points of failure. The approach offers strong user autonomy and minimizes custodial risk, but users should be aware that funds are not FDIC insured and only USDC on Solana is supported. Overall, Fuse Card prioritizes user control and security, making it ideal for those who value self-sovereignty over their funds.

Supported Currencies and Conversion

Supported Cryptocurrencies

• USDC (USD Coin) on Solana blockchain only

Supported Fiat Currencies

• Card is denominated in USD
• Can be used internationally (merchant receives local currency)

Currency Conversion

• USDC is converted to the merchant's local currency at standard Visa exchange rates
• 0% additional markup on currency conversion
• Conversion happens in real-time at the point of sale
• No options to prioritize payments; standard Visa authorization process applies

Geographic Availability

The Fuse Card is available in the United States (with limited exclusions) and has expanded to 17 additional countries across Latin America and Africa.

Americas

United States: Available in all states except New York and Alaska.

Latin America: Argentina, Bolivia, Brazil, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru, Uruguay.

Africa

Ghana, Nigeria.

Restricted Regions

• Within US: New York and Alaska are excluded
• All countries not listed above are currently unsupported
• Standard sanctions and compliance restrictions apply (OFAC-sanctioned countries excluded)

Regional Considerations

• No significant variations in service between supported countries
• Geographic expansion continues with additional countries potentially added to the roadmap

Compliance and Security

Regulatory Compliance

• Full KYC required through Bridge (name, address, DOB, SSN/ID number, possibly ID document and selfie)
• Complies with USA PATRIOT Act and banking regulations
• Bridge holds appropriate money transmitter licenses (NMLS #2450917)
• Standard sanctions restrictions apply

Custody Model

• Self-custodial: Funds remain in user-controlled smart contracts until the moment of transaction
• Card account funds are NOT FDIC insured (explicitly stated in cardholder agreement)
• Dual-account structure: Main Account and Card Account (only USDC in Card Account can be spent)

Security Features

• Multi-key security: 2-out-of-3 key setup by Squads Protocol
• No single seed phrase vulnerability
• Card freeze/unfreeze capability in-app
• 5-minute security time-lock on withdrawals from Card Account back to Main Account
• Daily spending limit controls enforced by smart contract (up to $2,000, customizable)
• Key types include:
  • Device keys (stored on user's device)
  • Recovery keys (for backup)
  • Optional email 2FA key

This security architecture provides enterprise-grade protection while maintaining the self-custodial nature of the wallet, significantly reducing the risk of total fund loss from a single compromised key or device.

Technical Details

Blockchain Integration

• Built on Solana blockchain for low fees and fast transactions
• Smart contract-based card account
• Programmable controls enforce daily spending limits
• 5-minute time-lock on withdrawals from Card Account to Main Account

Wallet Architecture

• Self-custodial design using Squads Protocol
• 2-out-of-N key structure requires multiple private keys for access
• Eliminates single point of failure common in traditional wallets
• Bridge/Lead Bank cannot access funds beyond authorized limits
• Dual-account model separates Main Account from Card Account for enhanced security

Integration Capabilities

• Apple Pay supported for contactless payments
• No direct integrations with PayPal or similar services
• Integrated with Jupiter aggregator for token swaps
• Fuse Earn integration for yield generation (powered by Drift and Kamino)

User Experience

Mobile App Features

• Currently iOS app only (no Android version yet)
• In-app card management (view details, freeze/unfreeze)
• Integrated swaps via Jupiter aggregator
• Fuse Earn (yield feature powered by Drift and Kamino)
• Solana staking
• Bank off-ramp capabilities
• Monthly statements available for download (accessible via "Bank statement" in-app)

Support Channels

• Email support ([email protected])
• Telegram community
• Support center website with FAQs
• Priority support for Plus users (coming soon)

User Feedback

• Positive: Clean interface, seamless integration, fee-free structure
• Negative: Limited to iOS, no Android support, no physical card option
• Common Complaints: Android users feeling left out

Upcoming Features

• Android app (in development, no specific timeline)
• Priority support for Plus users (marked as "coming soon")
• Geographic expansion mentioned but without specific timelines

Best Suited For

• Crypto-native users who want to spend stablecoins directly without off-ramping to banks
• Self-custody advocates who value maintaining control of their funds until the moment of purchase
• Fee-conscious spenders who prioritize zero-fee transactions over traditional card rewards
• International travelers who benefit from no foreign transaction fees and standard Visa exchange rates
• Users in high-inflation economies like Argentina and other Latin American countries where stablecoin spending offers significant advantages
• Users in supported African markets (Ghana, Nigeria) seeking stable currency alternatives

Pros and Cons

Pros

• Self-custodial design keeps funds under user control until spent
• Zero fees for all card transactions, including foreign purchases
• Seamless integration with yield-earning features through Fuse Earn (Drift and Kamino)
• Enhanced security with multi-key architecture and programmable limits
• No staking requirements for card usage
• Expanded availability across 19 countries in Americas and Africa

Cons

• Virtual card only with no physical option currently available
• Limited to iOS users (no Android support yet)
• Restricted geographic availability (only 19 countries currently supported)
• No cashback or rewards program on purchases
• Supports only USDC on Solana (no other cryptocurrencies)
• $1.00 bank fee per off-ramp transaction

Conclusion

The Fuse Card represents an innovative bridge between cryptocurrency and everyday spending, offering a self-custodial approach that maintains user control while delivering the convenience of a traditional payment card. Its zero-fee structure for all transactions makes it particularly appealing for cost-conscious users, while the integration with Fuse's broader ecosystem creates a comprehensive financial platform.

The card's most significant strengths are its self-custodial design, fee-free structure, and seamless integration with yield-earning features powered by Drift and Kamino. These advantages are balanced against limitations like the lack of a physical card, absence of rewards/cashback, and current restriction to iOS devices and 19 countries.

For users within its supported regions who prioritize control over their funds and fee-free spending, the Fuse Card represents a compelling option that effectively bridges the crypto and traditional payment worlds. The recent geographic expansion to Latin America and Africa demonstrates Fuse's commitment to serving markets where stablecoin access provides particular value. As the service expands to more regions and potentially adds features like Android support and physical cards, its appeal is likely to grow further.

Additional Information

Comparison with Traditional Banking

The Fuse Card effectively replaces several traditional banking functions:

• Checking Account: Virtual US bank accounts for ACH/SEPA transfers
• Savings Account: Fuse Earn for yield (often higher than traditional savings, powered by Drift and Kamino)
• Debit Card: Visa card for spending
• International Transfers: No-fee foreign transactions

The primary differences are:

1. No FDIC Insurance: Unlike bank deposits, funds are not FDIC insured
2. Self-Custody: User maintains control of funds (unlike bank deposits)
3. Yield Source: Interest comes from DeFi protocols (Drift and Kamino) rather than bank lending
4. Limited Services: No check writing, no ATM access, no credit facilities
5. Minimal Off-ramp Costs: $1.00 bank fee per transaction with no platform fees

For users comfortable with these trade-offs, Fuse provides many banking functions with potentially higher yields, lower fees, and greater control.

Regulatory Considerations

Fuse operates in a complex regulatory environment:

• US Compliance: Through partnerships with Lead Bank and Bridge Ventures LLC, Fuse complies with US banking and money transmission regulations
• Stablecoin Regulation: As regulations around stablecoins evolve, Fuse's operations could be affected
• Geographic Expansion: Regulatory requirements likely explain the selective rollout to 19 countries, with focus on Latin America and Africa
• KYC Requirements: Full identity verification is mandatory, reflecting Fuse's commitment to regulatory compliance rather than anonymous services

These regulatory considerations shape both the current offering and will influence future expansion plans.