xPortal Card

xPortal Mastercard Prepaid Card: Crypto-Linked Spending with Non-Custodial Storage

Basic Information

The xPortal Card is a crypto-linked prepaid debit card that bridges the gap between cryptocurrency holdings and everyday spending. Developed by MultiversX (formerly Elrond) in partnership with Twispay, the card enables users to convert their crypto assets to fiat currency for global spending while maintaining non-custodial control of their digital assets.

The card functions as part of the broader xPortal "crypto super app" ecosystem, which combines a non-custodial wallet with spending capabilities. Users can convert multiple cryptocurrencies to euros for card spending, with transactions processed through the Mastercard network.

Rewards and Benefits

Cashback Structure

The xPortal Card offers a tiered cashback structure based on EGLD or UTK token staking:

• Fresh Mint (Current Tier):

  • Up to 0.5% cashback in EGLD or UTK
  • Cashback rate increases with staking amount (from 0.1% for 5 EGLD to 0.5% for 2,000 EGLD)
  • Monthly cashback caps range from €5 to €30 depending on staking level

• Upcoming Premium Tiers:

  • Eco Black: Up to 2% cashback (staking requirements to be published in 2025)
  • Diamond Touch: Up to 5% cashback (staking requirements to be published in 2025)

Without staking, no cashback is awarded on any tier.

Premium Tier Benefits

Beyond cashback, the premium tiers (not yet launched) will offer additional benefits:

• Eco Black (€9.99/month or €99.99/year):

  • 3-month Spotify and Netflix subscription reimbursements
  • Limited airport lounge access
  • 1 guaranteed Launchpad ticket for MultiversX token launches
  • Discounted global data roaming
  • Limited travel and purchase insurance

• Diamond Touch (€19.99/month or €199.99/year):

  • 6-month Spotify and Netflix rebates
  • Comprehensive travel and e-commerce purchase insurance
  • Unlimited airport lounge access
  • Global Airport FastTrack
  • 3 guaranteed Launchpad tickets
  • Exclusive event access and VIP MultiversX meet-ups

Additional benefits across all tiers include:

• xPortal Gems (loyalty points system)
• Ecosystem discounts (up to 5% off MultiversX event tickets)
• Integration with xPortal's DeFi yields and staking features

Fees and Limits

The card requires user-initiated in-app conversion from crypto to EUR before spending, with no automatic conversion at point of sale. This gives users control over when to convert their assets but requires planning ahead for purchases.

Card Tiers and Options

Currently, only the Fresh Mint tier is fully launched and available to users. The premium tiers (Eco Black and Diamond Touch) have been announced but are scheduled for future release in 2025.

Top-Up Methods

Users must pre-load the xPortal Card by converting supported cryptocurrencies (BTC, ETH, EGLD, DOGE, LINK, MATIC, PEPE, SHIB, SOL, UNI, USDC, USDT) to euros within the xPortal app. This process moves funds from the user's non-custodial xPortal wallet to a custodial e-money account managed by Twispay, meaning custody of funds transfers to the card provider upon top-up. All crypto-to-fiat conversions incur a ~1% fee, and only EUR is supported for card spending, with a €10 minimum and €5,000 daily/€25,000 monthly top-up limit. Top-ups are completed instantly via the app, and funds become available on the card immediately after conversion; no automatic or on-demand conversion at the point of sale is available—pre-loading is required.

Self-Custody Hybrid Custody

The xPortal Card uses a hybrid custody model, allowing users to hold and control their crypto assets in a non-custodial wallet until they choose to spend. When users want to use the card, they must manually convert their crypto to euros within the app, at which point the fiat funds are held custodially by Twispay in a safeguarded e-money account. This means users have full control of their private keys and assets up until the conversion, but after conversion, the fiat balance is managed by the card issuer. If the provider ceased operations, users would retain access to their crypto, but any remaining fiat on the card would be subject to e-money safeguarding rules and not independently accessible. This setup balances security and flexibility, letting users benefit from self-custody for crypto while enjoying the convenience of a traditional debit card, but it does require trust in the issuer for fiat balances and exposes users to market volatility risks during the conversion process.

Supported Currencies and Conversion

Supported Cryptocurrencies

The xPortal Card supports 12 major cryptocurrencies for card top-up:

• Bitcoin (BTC)
• Dogecoin (DOGE)
• MultiversX (EGLD)
• Ethereum (ETH)
• Chainlink (LINK)
• Polygon (MATIC)
• Pepe (PEPE)
• Shiba Inu (SHIB)
• Solana (SOL)
• Uniswap (UNI)
• USD Coin (USDC)
• Tether (USDT) - wrapped on E-chain, ETH & Polygon

While the xPortal wallet itself supports multiple blockchains (Bitcoin, Ethereum, MultiversX, Polygon, etc.) and over 80 tokens, only the above 12 cryptocurrencies are currently convertible for card loading.

Supported Fiat Currencies

• Primary Currency: Euro (EUR)
• Internal Base Currency: Romanian Leu (RON)

Conversion Process

• User-initiated in-app conversion before spending (no automatic conversion)
• Powered by xMoney (Utrust) with approximately 1% fee
• Immediate settlement with funds available instantly after conversion
• Mastercard handles currency conversion for purchases in non-EUR currencies
• Multi-currency accounts are planned but not yet available

Geographic Availability

The xPortal Card is currently available exclusively to residents of the European Economic Area (EEA) and select associated countries.

Supported Regions

All 30 European Economic Area (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, and Sweden

Restricted Regions

• All non-EEA countries, including United Kingdom, Switzerland, USA, Canada, and most of Asia/Africa
• Restrictions are due to licensing limitations
• Standard sanctions lists apply (e.g., no service to countries like North Korea, Iran)

Regional Variations

• Delivery fees differ between Romania (€5.99) and other EEA countries (€12.99)
• Service is limited to Europe until further licensing is secured

Compliance and Security

Regulatory Framework

• Card issuer (Twispay) is licensed as Electronic Money Institution IEME-RO-0001 by National Bank of Romania
• Compliant with EU financial regulations (AML/KYC, GDPR)
• PSD2-SCA (Strong Customer Authentication) compliant
• Full KYC required before card issuance (ID verification and proof of address)

Custody Model

The xPortal Card uses a hybrid custody model:

• Non-custodial for crypto assets: Users maintain control of their private keys
• Custodial for fiat balances: Held by Twispay in safeguarded accounts
• Fiat funds legally segregated from company assets per EU e-money regulations

Security Features

• On-chain 2FA ("Guardian" mechanism)
• Biometric authentication (Face ID/Touch ID)
• PIN/password protection
• Card freeze/unfreeze via app
• Real-time transaction notifications
• Custom spending limits
• End-to-end encrypted communications

Compliance Certifications

• PCI-DSS Level 1 compliance (Twispay)
• PSD2 compliance
• GDPR compliance for personal data

Technical Details

Integration Architecture

The xPortal Card operates through a partnership between MultiversX, Twispay (issuer), and Mastercard (network). The technical flow involves:

1. User converts crypto to EUR in the xPortal app (non-custodial wallet)
2. Converted funds are transferred to the Twispay e-money account (custodial)
3. Card transactions draw from the e-money account balance
4. Transactions are processed through the Mastercard network
5. Cashback is calculated and credited to the user's xPortal wallet in EGLD or UTK

This architecture maintains the security benefits of non-custodial crypto storage while enabling traditional payment functionality.

App Functionality

• Available on iOS and Android with high ratings (4.8-4.9 stars)
• Integrated wallet, exchange, and card management
• DeFi staking and yield features
• NFT avatar system
• Social features and messaging
• AR/AI integrations ("xPortal avatars" and AI Genie)
• Multiple European languages supported

Payment Integrations

• Apple Pay and Google Pay support (added in Q1 2024)
• Integration with xMoney (Utrust) merchant network
• Mastercard payment network for global acceptance

User Experience

Mobile App Experience

The xPortal app serves as the control center for the card, offering:

• Intuitive card management interface
• Real-time transaction monitoring
• One-tap conversion between crypto and fiat
• Integrated staking and rewards tracking
• Customizable security settings

Support Channels

• In-app chat support (Intercom)
• Email support ([email protected])
• Community forums (Reddit, X/Twitter)

User Feedback

Positive aspects frequently mentioned:

• Sleek design and interface
• All-in-one solution for crypto and spending
• Strong security features
• Integration with broader MultiversX ecosystem

Common complaints:

• Low cashback without significant staking
• FX conversion fee on EUR transactions
• Initial waitlist delays
• Occasional technical issues with updates
• Support response times

Merchant Interactions

• Accepted anywhere Mastercard is accepted globally
• High-risk merchants (e.g., gambling) may incur additional fees (up to 3%)
• No merchant-specific cashback bonuses or restrictions

Best Suited For

• MultiversX Ecosystem Participants who already hold or stake EGLD/UTK tokens and want to leverage their holdings for spending benefits
• Security-Focused Crypto Users who value non-custodial storage but want convenient spending options
• European Crypto Enthusiasts seeking a regulated bridge between their digital assets and everyday purchases
• DeFi/Staking Participants who can benefit from the integrated staking and yield features while maintaining spending access
• Tech-Forward Users who appreciate the advanced features like on-chain 2FA and integrated NFT/social elements

Pros and Cons

Pros

• True non-custodial approach for crypto assets (user controls private keys)
• Integration with broader MultiversX ecosystem (staking, DeFi, NFTs)
• No monthly fees for base tier (Fresh Mint)
• Competitive cashback rates at higher staking levels (up to 5% planned)
• Strong security features including on-chain 2FA

Cons

• Limited geographic availability (EEA only)
• Minimal to no rewards without significant token staking
• ~1% crypto-to-fiat conversion fee plus FX fees on transactions
• Premium tiers with best benefits not yet launched
• Limited ATM withdrawal allowances compared to some competitors

Conclusion

The xPortal Card represents an innovative bridge between cryptocurrency holdings and traditional payment infrastructure. Its primary differentiator is the non-custodial approach to crypto storage combined with traditional spending capabilities – a unique value proposition in the crypto card market.

For users already invested in the MultiversX ecosystem, the card offers significant potential benefits, especially with the premium tiers promising up to 5% cashback and substantial perks like subscription rebates and travel benefits. However, for casual users or those without significant EGLD/UTK holdings, the value proposition is less compelling due to minimal base rewards and conversion fees.

The card's future success will likely depend on the successful launch of the premium tiers and the continued growth of the MultiversX ecosystem. With over 2.5 million users already in the xPortal ecosystem, the card has a substantial potential user base, but its appeal outside this group may be limited by the staking requirements for meaningful rewards.

For European residents already holding EGLD or UTK tokens, the xPortal Card offers a compelling way to utilize crypto holdings for everyday spending while maintaining security and potentially earning substantial rewards. For others, the decision will depend on their willingness to participate in the broader MultiversX ecosystem and stake tokens for enhanced benefits.

Additional Information

Detailed Staking Requirements

Based on available information for the Fresh Mint tier:

These figures are approximate and based on current information; official staking tables for all tiers are expected to be published in 2025.

Competitor Comparison

When compared to other crypto cards available in Europe:

The xPortal Card's main competitive advantages are its non-custodial approach and integration with the MultiversX ecosystem, while its limitations include the high staking requirements for meaningful rewards and limited geographic availability.