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Ethena Pay

Virtual Visa card from Ethena with one of the highest flat rates around: 4% on your first $2,500 a month.

Key facts

Cashback
4% to 5% in AVAX, daily
Annual fee
Free
FX fee
1%
Top-up fee
0%
Per-purchase fee
None listed
ATM
$1 + 0.65% per withdrawal
Card types
virtual
Mobile wallets
Apple Pay + Google Pay

Cashback: Standard: 4% on the first $2,500 a month, then 1% on the next $1,500. Pro and VIP raise both the rate and the limits.

FX: No conversion cost on US-dollar purchases. Other currencies: the card network's fee, about 1%, passed through at cost with no Ethena markup.

G2M score worldwide

83/100
Rewards25/25
Fees27/30
Coverage12/20
Ecosystem9/15
Control10/10
How the score works

Where it works

  • IndiaNot available
  • UAEAvailable
  • United StatesNot available
  • United KingdomNot available
  • EU / EEANot available

48 countries incl. the UAE, Australia and Latin America. Includes United Arab Emirates, Australia, Argentina, Brazil.

Banking features

Bank account (IBAN or account number)
In your name
Send money to a bank account
Not confirmed
Buy and sell crypto with fiat
Buy and sell
Spend against crypto without selling
No
Yield on your balance
Yes
ID check for people living abroad
Not published
Citizens turned away
United States

Tiers and plans

[ tier break-even ]

When a paid tier pays for itself against Standard (free), with its yearly fee and monthly cashback cap counted.

  • Pro: can't be worked out, the price is not published.
  • VIP: can't be worked out, the price is not published.
TierCost per yearCashbackMonthly capFX feeHow to get itPerks
StandardFree4% up to $2,500/mo, 1% up to $4,000/mo, 0% above $4,000—1%Free to join5% a year on your balance, up to $5,000, paid daily in USDe
ProNot published4.5% up to $8,000/mo, 2% up to $10,000/mo, 1% up to $12,000/mo, 0.5% above $12,000—1%Lock $2000 in ENA or invite 10 users6% a year on your balance, up to $100,000, paid daily in USDe
VIPNot published5% up to $20,000/mo, 2% up to $30,000/mo, 1% up to $40,000/mo, 0.5% above $40,000—1%Lock $10000 in ENA or invite 50 users6% a year on your balance, up to $1,000,000, paid daily in USDe

Real swipe receipt

What one purchase really costs on Ethena Pay, with every fee and the cashback.

[ swipe receipt ]Try a $10 coffee, a $50 dinner or a $200 hotel on Ethena Pay, in your own currency, and post the receipt on X.Open the receipt

What's good

  • 4% back on everyday spend with no annual fee
  • No FX markup from Ethena
  • Daily yield up to 6% a year on your balance, paid in USDe

Watch out for

  • Rate drops sharply above $2,500 a month on Standard
  • Virtual card only
  • Cashback paid in AVAX, not Ethena's own token, so its value moves with Avalanche

More details

Perks
Works on Arbitrum, Ethereum, Optimism and Polygon
Spend from
AVAX
Issuer
Third National

Sources · last checked 25 Oct 2026

Terms change often. Confirm fees and availability on the official Ethena site before you apply. Spotted something out of date? Tell us.

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