MP review: a two-card crypto wallet with honest fees and a narrow licence footprint

Updated October 2026

Licensed

Available in US

Fast payouts

18+ Only

If you have been searching for an ordinary bank card and not getting one — because of where you live, what documents you hold, or what your bank will accept — the MP card is one of the products that exist for exactly that situation. It is a payment card you load from a crypto wallet, with two shapes: Cloud, a virtual card, and Boundless, a physical Visa. My score for it is 7.1 out of 10. That is a good result, not a great one, and the reasons are worth reading before you decide.

The conditions described here are current as of October 28, 2026.

The verdict: 7.1 out of 10, and for whom

MP scores 7.1 out of 10 overall. Here is how that breaks down, criterion by criterion, so you can see exactly where the strength and the weakness sit rather than taking a single number on faith.

The shape of that table matters more than the total. MP’s best score, nine out of ten for everyday use, is not a marketing nicety — a virtual card and a physical Visa in one wallet, loadable from Apple Pay and Google Pay, is exactly the combination most people in this situation are looking for. And the eight out of ten for eligibility is generous by the standards of this category: twenty-three countries closed and the rest of the world open is a much wider door than most of the alternatives manage.

The five out of ten for cost is where the discomfort sits, and it is worth being precise about why. Nothing here is hidden or predatory — the card’s own pages put roughly one percent all-in on US dollar spending and between 1.8% and 2.2% on non-USD spending, and they are upfront about it. But the physical card costs 100 USDT, there is a 0.80% fee on every transaction, and any spending outside the dollar picks up an issuer-set foreign-exchange charge on top. If your money moves through this card often, or if you spend in your local currency rather than in dollars, those numbers add up faster than the headline suggests.

The seven out of ten for reliability is my honest assessment of a thin file rather than a found problem. MP Network Inc is a financial technology company, explicitly not a bank, registered in Delaware. It lists an MSB registration in the United States, BSP and DASP licences in El Salvador, and a TCSP licence in Hong Kong. It has already retired one card in its short life. And when I looked for the reviews people normally search for — the Trustpilot page, the Reddit thread, the accumulated complaints — I did not find any for this product. That cuts both ways. No complaints is not evidence of nothing going wrong; it is also not a pile of grievances I can hand you.

So who is this for? In my reading, the person who wants a virtual and a physical card from one wallet, holds dollars or dollar-pegged stablecoins, and does not have a card from a traditional bank. If you want to spend in euros or pounds all day, or you want a card you can rely on for years, or you are uneasy about holding money with a provider whose issuing bank is not publicly named, I would look elsewhere first.

Will they give you the card

Here is the first gate, and it is the one most people never get past, so it deserves plain answers rather than reassurance.

MP will not issue to twenty-three countries, listed on their pages as “unavailable due to regulatory compliance”: Afghanistan, Belarus, Central African Republic, Cuba, DR Congo, Dominican Republic, Guinea-Bissau, Haiti, Iran, Iraq, Lebanon, Libya, Mali, Myanmar, North Korea, Russia, Somalia, South Sudan, Sudan, Syria, Venezuela, Yemen, Zimbabwe. Russia and Belarus are both on that list, and I want to be direct about that rather than bury it: if you are in either country, this card is not available to you, and that will not change with a different document.

Beyond the country list, identity verification cannot be completed in parts of Ukraine — Crimea, Donetsk, Luhansk, Zaporizhzhia and Kherson — nor in Abkhazia, South Ossetia, Northern Cyprus, Somaliland, Transnistria or Nagorno-Karabakh.

So what decides it, if not your nationality? Eligibility is based mainly on the place of issue of your document and your registered residential address. That is a meaningful distinction for you: in some cases a document from a supported country plus a registered address in a supported country opens the door even where intuition says otherwise, and in other cases a familiar-looking country is closed regardless. The page is also explicit that you cannot switch documents to get around a regional restriction. I would not try to work around it, and you should not either — that is precisely the behaviour that gets accounts closed and, in some jurisdictions, is not legal.

One point of context that helps you read this list correctly. KYC rules exist because regulated businesses must verify customers and assess risk under anti-money-laundering and counter-terrorism-financing law, including ongoing monitoring and reporting of suspicious activity. Where due diligence cannot be completed, the expected outcome is that the institution declines the transaction or ends the relationship. A country list is not an inconvenience to be engineered around; it is the visible edge of that obligation. Nationality, incidentally, is recorded and screened separately from residence, because sanctions screening is usually applied to citizenship and country of birth as well as to your address. That is why asking “is MP card available in my country” is the right question, and why the honest answer has two parts.

How to get it

The application runs through the MPChat app on iOS or Android, and the sequence is short. You install the app, register an account, go to Assets and tap Activate Now, fund the wallet, then choose a card type and buy it.

There are two account levels, and the distinction matters more than it first appears. A Registered account is created with just a phone number, comes with limits but no card, and caps transfers at 1,000 USD a day with a total of 10,000 USD. A KYC1 account is where the card lives: it unlocks unlimited transfers and withdrawals up to 200,000 USD a day. You need KYC1 to apply for a card at all.

Getting to KYC1 means being 18 or older, giving basic personal information, presenting a government-issued ID — a passport or a national ID — and passing a selfie liveness check. Some details here save people a rejected application. One identity can verify only one account, so if you already have an account under your identity, a second attempt will be refused. Your document’s expiration date must be more than three months away, which is a stricter bar than most people expect and a common reason for a first attempt to fail. Proof of address is not stated as a requirement on the pages I read. The rejection reasons the card lists are being under 18, being in an unsupported country, submitting documents that are blurry, cropped, printed or expired, a face mismatch or another person in the frame, a second account on the same identity, and a mismatch of name, date or document number.

Two card types are on offer. The Cloud Card is virtual, bills in USD, is issued in Singapore, and has no ATM access. The Boundless Card is a physical Visa, BIN 45659910, also billed in USD. A third option, the Flash Card, was a virtual Visa with BIN 40433705 and has been retired — existing cards were converted to Cloud Cards and balances moved to Total Assets, with the retirement dated 30 September 2026.

Delivery for the Boundless Card is where the card is vague in a way you should plan around: the delivery time and region are “subject to the announcement on the Boundless Card application details page”, and any postage is set there too. If physical delivery speed is decisive for you, you would be reading that page, not taking a published figure from me, because there is not one. Reissue and replacement are priced though: $5 for the first replacement, $10 for each later one, and at least 31 days must pass between them. One card per person is not stated for MP, so I will not claim it; the cloud allowance is up to five cards.

The processing time for KYC verification is not stated. That is a real gap if you are trying to plan around a specific payment date, and it is one of the reasons I did not score reliability higher.

What it really costs: Fees

The headline numbers are good. The fine print is where you should look carefully, so here is everything the card’s own pages state about money.

Read that table as two separate bills. There is the cost of getting in and the cost of using, and the second is the one that compounds. The card’s own page does the sum for you, in effect: roughly 1% all-in for spending in dollars, and 1.8% to 2.2% for spending in something other than dollars. I am quoting those, not calculating my own.

Two or three everyday payments, with the fees that actually apply, so this stops being abstract:

A $12 coffee in dollars, on the Cloud Card. The 0.80% transaction fee is $0.096, which the card rounds as part of the small-value rule — but note that the $0.15 small-value fee only bites on transactions of $1 or less, so your $12 coffee does not trigger it. The crypto-to-fiat conversion is $0. Total cost: about $0.10.

A $60 dinner in euros, on the Boundless Card. The 0.80% transaction fee is $0.48. On top of that comes the FX pass-through set by the issuer, which varies by country and region and is not a figure MP publishes. This is where the 1.8% to 2.2% non-USD range comes from. Total cost: somewhere above $1.08, by an amount the card does not commit to.

A $200 withdrawal from an ATM, on the Boundless Card. The ATM fee is 2% with a $1 minimum, so $4. Note the ATM limits that apply alongside it: $1,500 per transaction, $1,500 per day with a maximum of five transactions, and $15,000 per month. ATMs are unavailable in mainland China and prohibited in Singapore. The Cloud Card has no ATM at all.

Two more fees sit on the edges and are easy to forget. A declined payment costs $0.80, though the first five per month are waived — which is small comfort if you are spending abroad with a card that sometimes fails. And a dispute or chargeback is $35 per case. That is the number I would underline for anyone planning to use this card on anything expensive, because $35 is not a rounding error against a disputed $60 purchase; it is a serious reason to think twice about the purchase rather than a routine cost of doing business.

The spending limits are generous enough that most people will never touch them, but they are set in three groups rather than one. The three limit sets listed are: a single transaction of $100,000, $20,000 and $100,000; daily spending of $250,000, $1,000,000 and $250,000; monthly of $1,000,000, $5,000,000 and $1,000,000; annual of $2,000,000, $10,000,000 and $2,000,000, with the second set also allowing 100 transactions a day. The mapping of those sets to the individual card names is not published, so I am leaving it as the card presents it rather than guessing which is which. What matters practically is that these are far above what ordinary spending will reach, and that the binding constraints for a normal user are the transaction fee and the FX rate, not the ceilings.

How to top it up

Topping up starts with a transfer, and the sequence is: deposit USDC or USDT into the MP Wallet, described on the pages I read as non-custodial, by Binance Pay or on-chain, then transfer from the wallet to the card.

Two things follow from that, and both matter. First, “non-custodial” is a meaningful word. With a self-custody-linked card, the funds stay in your own wallet until the moment of payment, and you bear sole responsibility for key loss, for phishing, and for clipboard-hijacking malware that swaps a copied address. With a custodial wallet the provider holds the credentials and you must trust it completely. MP describing its wallet as non-custodial is a point in its favour, and it is the reason I scored top-up options at 7 rather than lower. I would still not read “non-custodial” as a synonym for “safe” — it describes where the keys are, not whether you can lose them.

Second, and this is the practical trap, the specific networks are not listed on the pages I read. That matters more than it sounds. Sending on the wrong network is a well-known way to lose money in this category: blockchain transfers are irreversible, so a deposit sent on a network the provider does not support, or to an address belonging to a different network, can be lost or need manual support recovery with no guarantee. Some networks carry a trap of their own. ERC-20 tokens need gas paid in ETH, so a wallet holding USDT and no ETH cannot send. Tron prices fees through bandwidth and energy and often burns TRX. And Circle stopped supporting USDC on Tron in February 2024, so “USDC over TRC20” is not a native option. Check the network in the app at the moment you send, every time, and never copy an address from a message you were sent.

Two other top-up details. The minimum top-up is not stated, and the issuance or top-up fee is not listed on the fee page — the only buying costs are the card prices in the table above. When you withdraw rather than top up, online withdrawals through Wallet > Pay cost 2.1 USDT per transaction plus 0.1% on same-day withdrawals above 5,000 USDT, and KYC1 withdrawals run up to 200,000 USD a day. What happens to a remaining balance if you close the account is not stated. There is a help article on bank transfers and withdrawal to a bank which I did not read, so I am not going to characterise what it says.

Paying with it every day

This is where MP is genuinely good, and where my nine out of ten comes from.

The Cloud Card supports linking with Alipay, WeChat Pay, Google Pay and Apple Pay. The Boundless Card supports Apple Pay and Google Pay. If you are reading this because a physical card in your hand is not the problem — if the real problem is paying with your phone in a shop or app — that combination of wallets is the feature that solves it.

Some context on why the mobile wallets are not a detail. Apple Pay replaces your card number with a device-specific Device Account Number held in the Secure Element, never on Apple’s servers, and each payment uses a one-time dynamic security code. The issuer can also restrict the tokenised number, for example blocking it on magnetic-stripe, phone or website use. So adding the card to a mobile wallet is both the most convenient thing you can do with it and a layer of security the plastic does not have.

Two things the pages do not tell you, which I would want to know before relying on this daily. The list of blocked merchant categories is not stated. That matters because a merchant category code is a four-digit number classifying a business, and MCC 7995 covers gambling — casinos, betting, lotteries. Many issuers block that on specific cards by policy rather than by law, and the blocked list varies by issuer, so I cannot tell you from MP’s pages whether yours would be declined at a betting site or a casino. Second, online payments may run through 3-D Secure, which adds an identity check: the issuer assesses risk and either approves without friction or challenges you, for example with a one-time code or biometric. Visa’s brand is Visa Secure. If you travel, be aware that address verification is another possible snag — it compares the numeric parts of the billing address you type against the issuer’s records, is mainly offered in the US, Canada and the UK, and is generally unavailable for foreign-issued cards, which can cause declines. A card issued in Singapore is a foreign-issued card in most of those markets.

The app is MPChat on iOS and Android. Store ratings I could not obtain. There is a “rewards balance” mentioned on the page that cannot be used to pay reissue fees, but no rate is published and I am not going to invent one — so treat rewards as unquantified rather than as a reason to choose the card.

On tax, I am going to say only this much and no more: if you fund card payments from crypto, tax treatment may follow, it varies by where you are, and it is not something I am qualified to advise on. Treat it as a question for a professional in your own jurisdiction rather than something this page can answer.

What can go wrong

The honest risks, in the order I would weigh them.

The issuing bank is not named. MP says the cards are issued in Singapore, and the company behind it is MP Network Inc, 8 The Green, Suite B, Dover, DE 19901, USA, described on its own material as “a financial technology company, not a bank”. The brand is MPChat. Licences listed in the help centre are a US MSB registration, BSP and DASP licences in El Salvador, and a Hong Kong TCSP licence, with the issuing authorities not named, in a statement dated 13 August 2026. The issuing bank is not named anywhere on the pages I read. For most people this is a line they skim past. For someone whose reason for reading this page is that a bank would not open an account for them, the absence of a named issuer is the single most important fact here, because it means you cannot check the issuer’s licence in a public register the way you could a bank’s.

Programmes end. This is not a hypothetical. The Flash Card was permanently retired on 30 September 2026, less than a year into the product’s life as far as the public record shows, with issued cards converted to Cloud Cards and balances moved to Total Assets. The general pattern in this category is a notice period, then spending and loading stop, then users are asked to withdraw remaining balances. It is also worth remembering that the card network itself can end things: Visa and Mastercard do not issue crypto cards to consumers, they license issuers and can suspend a programme. Visa terminated its global agreements with FTX on 13 November 2022 and the FTX US debit card was wound down by its issuer. WaveCrest, a Visa issuer that supplied crypto card brands, was suspended by Visa in Europe in 2018, closing all its Visa programmes. Nothing here says any of that will happen to MP. It says the category has a track record, and you are entitled to price that in when you decide how much of your money to leave on the card.

No public complaints, in either direction. Searching for reviews of MPChat and the MP card turned up nothing on Trustpilot or Reddit as of 21 October 2026. I would rather tell you that plainly than manufacture reassurance from silence. A brand with no review history is a brand whose failure modes are undocumented. When problems do surface, you will be among the first, and you will have no track record of how the company handles them.

Support is thin on the page, and I do not have store ratings. In-app support runs through Me > Customer Support, plus X (Twitter), a support email at [email protected], and a Help Center at help.mp.net. The help centre is available in English, Simplified and Traditional Chinese. Hours are not stated. Dispute and chargeback handling times are not stated, and that is the number that would actually matter to you in the worst case, because a $35 dispute fee is only worth paying if the dispute resolves.

Security claims I could not fully verify. The wallet is described as non-custodial, card funds are described as securely backed within a regulated trust framework, and spending limits are manageable in the app. But freeze and block in-app, and two-factor authentication, were not confirmed on the pages I read. Those are the standard safeguards in this category — app-based 2FA, instant freeze, spending limits, 3-D Secure, tokenised mobile wallets — and I would want to see them before treating this as a card for holding meaningful sums.

One structural point that is not a fault of MP but belongs in your thinking. A crypto card usually rests on two licences, not one: the card is a payment service regulated under e-money and payment-services law, while the crypto side — custody, exchange, transfer — falls under a separate regime. In the EU, MiCA is that crypto regime, and its rules on stablecoins applied from 30 June 2024 with the remaining provisions including crypto-asset-service-provider rules from 30 December 2024. Under MiCA, e-money tokens may be issued only by a credit institution or an electronic money institution. Where the money sits matters, and segregated safeguarded funds are not the same as a bank deposit and may not be covered by a deposit guarantee scheme.

What to take instead

I am not going to tell you to switch on the strength of a rival’s marketing. Here is what the alternatives actually state about themselves, so you can compare like with like.

MetaMask Card is the comparison I would press hardest, because it scores the same 7.1 and is the only one here that pays cashback while charging no foreign transaction fee. Its weak spot is availability and cost: sign-up is open in 45 listed countries and territories — Andorra, Argentina, Brazil, Canada, Mexico, Germany, France, Spain, Uruguay among the examples — with other regions on a waitlist, US and UK sign-ups temporarily closed per its own FAQ. Proof of residency is required, and the card’s own note that ineligible regions limit sign-ups rather than spending is worth holding on to if you are outside the list. The Metal card at $199 a year is expensive for most people, and the per-transaction fee is described only as “minimal” with the amount on a linked table I did not read, so I cannot tell you what it is.

KAST is the fee comparison to make if you spend heavily and mostly in dollars: stablecoin top-up 0%, USD spending 0%, transaction fee 0%, Apple and Google Pay 0%, real cashback of 1.5% to 3% by tier. But the tiers are heavy at the top — Premium is 1,000 USD a year, Private 10,000 USD a year, billed annually upfront with no monthly option — and eligibility is the strictest of the three, with residence, and the country on your ID, both checked, and VPN explicitly not a route around it. If you live in a supported country but hold an ID from a restricted region, their own wording says you may still fail KYC.

TokenPocket scores lowest at 5.8 and is worth a sentence: Visa debit for a list of European countries and territories, Mastercard debit for a longer list including Australia, Canada, Hong Kong, Japan, Taiwan, New Zealand, Singapore, South Korea and the UK, with the Americas described as planned. Its 1% deposit fee is stated to be refunded later through rewards or reduced transaction fees — a promise to be scored later, not a discount today.

If you want a different cut on the same question, here is how I would weigh them as a reviewer rather than an adviser. Cheapest to hold and free to open points to MetaMask or KAST. Cheapest to open but with a real transaction fee points to MP. Widest eligibility, at the cost of a thinner public record, points to MP. If you are outside MP’s country list, none of this matters — go and check KAST’s residency and document rules, because their country list is not published but their KYC screen is where it will be decided.

Who I would recommend it to

I would recommend the MP card to someone in this specific position: you are in a country MP serves, your document is from a country MP serves, you cannot get an ordinary bank card or would rather not deal with one, you hold dollars or stablecoins already, and you want a virtual card for online spending plus a physical Visa for everything else, both from the same app. If that is you, 7.1 out of 10 is a fair score and the card does what it says.

I would not recommend it as the first card you try. If you have any workable route to a conventional card, take it — you get a named issuing bank, deposit protection you can verify, and a public track record, none of which this one can offer you yet.

And there are readers I would send elsewhere. If you spend mainly in a currency other than the dollar, the 1.8% to 2.2% all-in is the whole argument against MP and no amount of convenience answers it. If you plan to hold a large balance on the card, the unnamed issuer and the zero public review history are the reasons. If you are somewhere on the closed list, stop here — the list is the list. And if what you need is a card that will still exist in five years, a product that retired one of its three cards within its first stretch of public life is not where I would keep my money.

The honest summary is this: MP is a well-built, plainly priced everyday card for a specific set of circumstances, attached to a young company with a small licence footprint and no published history of complaints. That combination is genuinely useful to some people and genuinely risky for others, and which one you are depends almost entirely on where you live, what you hold, and how much you are willing to leave on it.

Frequently asked questions

What is the MP card?

The MP card is a payment card you load from a crypto wallet rather than from a bank account. It comes in two current forms: the Cloud Card, which is virtual and bills in USD, and the Boundless Card, a physical Visa, BIN 45659910, also billed in USD. A third option, the Flash Card, was retired on 30 September 2026. Spending draws on a balance you have loaded, not on credit.

Is MP a bank?

No, and MP says so itself — it describes MP Network Inc, registered at 8 The Green, Suite B, Dover, DE 19901, USA, as “a financial technology company, not a bank”. The brand is MPChat. Listed licences are a US MSB registration, BSP and DASP licences in El Salvador and a Hong Kong TCSP licence. The cards are issued in Singapore, but the issuing bank is not named on the pages I read.

Which countries can use the MP card?

Twenty-three countries are closed “due to regulatory compliance”, including Russia and Belarus, plus Iran, Iraq, Syria, Cuba, Sudan, Venezuela, Zimbabwe and others. KYC also cannot be completed in parts of Ukraine and in Abkhazia, South Ossetia, Northern Cyprus, Somaliland, Transnistria and Nagorno-Karabakh. Eligibility rests mainly on where your document was issued and your registered residential address, not on your nationality alone.

Does the MP card require KYC, and what does it involve?

Yes. There are two levels: Registered, created with a phone number, capped at 1,000 USD a day in transfers with a 10,000 USD total and no card; and KYC1, which requires being 18+, basic personal details, a government-issued passport or national ID, and a selfie liveness check. KYC1 unlocks the card and withdrawals up to 200,000 USD a day. One identity can verify only one account.

How much does the MP card cost?

The Cloud Card is 10 USDT and the Boundless Card is 100 USDT, with no monthly fee. Crypto-to-fiat conversion is $0. Every transaction costs 0.80%, and a payment of $1 or less adds $0.15. Spending outside the dollar adds an issuer-set pass-through FX charge, which takes the all-in cost to roughly 1.8% to 2.2%.

How do I top up the MP card?

Deposit USDC or USDT into the MP Wallet, which MP describes as non-custodial, either through Binance Pay or on-chain, then transfer from the wallet to the card. The specific networks are not listed on the pages I read, so check the network in the app before every send — a transfer on an unsupported network is irreversible and can be lost.

Where can I use the MP card, and is Apple Pay supported?

Yes, Apple Pay is supported, and so is Google Pay. The Cloud Card additionally supports Alipay and WeChat Pay. The Boundless Card is the one with ATM access, at a 2% fee with a $1 minimum, $1,500 per transaction and per day, and $15,000 a month — unavailable in mainland China and prohibited in Singapore. The Cloud Card has no ATM.

What are the limits on an MP card?

Registered accounts cap transfers at 1,000 USD a day and 10,000 USD in total. KYC1 allows withdrawals up to 200,000 USD a day. Three sets of card spending limits are published, topping out at $1,000,000 a single transaction, $1,000,000 a day and $5,000,000 a month in the highest set, with the mapping to individual card names not stated. Ordinary spending will never reach them.

Is the MP card safe, and can I trust it?

There is no verified answer either way. MP describes the wallet as non-custodial and card funds as backed within a regulated trust framework, but freeze, card blocking and 2FA were not confirmed on the pages I read, the issuing bank is not named, and a search for Trustpilot or Reddit reviews found nothing for MPChat. Treat the absence of complaints as an absence of history, not as reassurance.

Is the MP card worth it?

It is worth it if you cannot get an ordinary bank card, you hold dollars or stablecoins, and you want both a virtual and a physical card from one wallet. It is not worth it if you spend mainly in other currencies, if you want low per-transaction costs, or if you need a named issuer, deposit protection and a long public record. A card that retired one of its three options within its first stretch of public life is a judgement call, not a default.

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