Nexo Card is a custodial Mastercard for spending digital assets in shops, online and at ATMs. Its main distinction is the ability to switch between Debit Mode, which spends crypto or stablecoins directly, and Credit Mode, which lets the holder borrow against crypto without selling it. Nexo says the card works at more than 100 million merchants globally.
Who is behind it
The card is operated by Nexo, a digital-asset wealth platform founded in 2018. The company is associated with the NEXO token and offers savings and credit-line products alongside the card. Nexo says it completed a third consecutive SOC 2 and SOC 3 audit cycle. A Moore reserves attestation is also referenced in its safety disclosures.
How the card works
Users complete identity verification and manage the card through the Nexo app. Debit Mode spends digital assets and FiatX assets such as EURx, USDx and GBPx, with Nexo handling conversion for the payment. Credit Mode draws on a crypto-backed Credit Line, with rates starting from 1.9% per year. There is no credit check or fixed repayment schedule.
Cashback is available only in Credit Mode when the account holds more than $5,000 in digital assets. Rewards range from 0.5% to 2% in NEXO tokens, or 0.1% to 0.5% in BTC, across Base, Silver, Gold and Platinum tiers. The highest tier requires at least 10% of the portfolio in NEXO tokens. Apple Pay and Google Pay are supported.
Fees and availability
Nexo advertises no monthly, annual or inactivity card fees. ATM withdrawals are free up to €2,000 or £1,800 per month at Platinum tier, with lower allowances at other tiers. Extra withdrawals cost 2%, with a minimum of 1.99 EUR or GBP. Foreign-exchange fees are 0.2% in the EEA, UK and Switzerland on weekdays and 0.7% on weekends; rates for other regions are higher.
The card is available to eligible residents of the United Kingdom and Europe, including the EEA. The United States is excluded. Physical cards require more than $5,000 in digital assets and Gold Loyalty Tier eligibility, while the virtual card can be activated after at least $50 is held in the Nexo account.
Risks and limitations
Nexo holds the assets in a custodial account, so access depends on the platform and its card programme. Credit Mode creates borrowing and collateral exposure, while Debit Mode converts assets at the point of payment. Cashback depends on portfolio size and loyalty tier, with the highest rates tied to NEXO holdings. Regional restrictions and identity checks can affect access. A March 2026 report said physical card orders were temporarily paused, leaving virtual access available at that time.
