Kolo Card

Pass 2, 27 Sep 2026: verified against Kolo's Terms of Use v3.0.0 (1 Jul 2026) and help centre articles read on 27 Sep 2026 (Fees & Pricing; Cashback Program, dated 30 Jul 2026; Card Overview; Visa EUR 442601 limits; countries; spending limits; activation; legal structure; wallet). No card-specific cardholder agreement, fee schedule or cashback programme terms are published: the Terms of Use say the reward rate and limits are set by Kolo under separate programme terms, so the rate, caps and card fees rest on the official help centre (MED-HIGH). CASHBACK: modelled at the ongoing 1% in BTC with the $100 monthly payout cap. The 2% rate for the first 30 days after activation is a time-limited new-user rate and is excluded under the modelling rules, although Kolo's homepage and some posts still say '2% in Bitcoin'. The $1 cap per transaction (the engine has no field for it) is not modelled: any purchase above $100 earns only $1, so real cashback is lower for large purchases. FEES: 1% conversion fee on every card payment (fx.conversionRate 0.01); the homepage says '0% mark-ups on USDT, USDC, EURC', but the help centre says the 1% conversion fee always applies, stablecoins included, so 1% is modelled. An October 2025 Kolo blog post claimed zero FX and zero conversion fees; the current help centre supersedes it. FX: modelled on the USD card, the main programme (DefiLlama's on-chain spend is all through Rain): Visa rate plus 1% on non-USD spend (fx.rate 0.01), which Kolo calls a pass-through. The extra 1% on USD payments at non-US merchants is not modelled (the model assumes local-currency spend). The EUR card (issued by Wirex; its cashback started on 24 Jul 2026) charges no FX on EUR spend and 0.55% to 1.35% on others; Founder decision (28 Sep 2026): under the site's rule that euros count as local on cards with a euro account, EU residents are modelled on the EUR card with no FX on euro spend, so they keep about 0% (1% cashback less the 1% conversion fee); availability of the EUR card depends on the verification country. REGIONS: UK and EU are named on Kolo's own pages; Canada, Australia and Asia rest on Kolo's '159 countries across Europe, Asia, the Americas, Africa and Oceania' post (27 Dec 2025) and a third-party country list (173 names, no US). US excluded per three reviews and that list; Kolo's documents neither offer nor exclude the US. CUSTODY: the Terms (from 1 Jul 2026) describe a non-custodial MPC wallet in which Kolo holds one key share and co-signs; earlier the service was custodial and several reviews still say so; the card's USD balance is a separate fiat balance linked to the card. REGULATION: Hardline Holding Limited is licensed under the AIFC FinTech Lab (AFSA-G-LA-2024-0011); before 1 Jul 2026 crypto services ran through BURVIX (Poland) and before 2026 Cryppo UAB (Lithuania). No MiCA authorisation is named in the Terms despite 'MiCA compliant' marketing. VERIFY: the sign-up country list (in-app KYC), whether EU residents are placed on the EUR card, a real non-USD purchase to measure the 1% FX plus 1% conversion, and any change to the 30-day 2% rate.