What is a crypto neobank?
You’ll hear “neobank” a lot in crypto right now. Basically, it’s a bank-like app that runs entirely online. The crypto versions let you hold, earn on and spend your crypto in one place, usually with a Visa or Mastercard attached.
2 min read
In this guide4 sections
What a neobank is
A neobank is a digital-only bank that runs entirely over the internet, with no branches. A crypto neobank does the same job on crypto rails. You keep your money onchain, as stablecoins or crypto, and spend it with a card anywhere Visa or Mastercard works, without moving it back to a bank account first (how that works).
Three kinds
They roughly fall into three groups.
Why people use them
The main draw is not having to cash out to spend. You can keep funds earning yield, borrow against your crypto on some apps, and spend from the same balance. Many also pay cashback that’s hard to find on a regular debit card.
What to check first
- Who holds your money? Some are self-custodial, others hold your funds for you. Our custody guide covers the difference.
- What does the card actually pay after fees, caps and FX? The calculator works it out at your spend.
- Is it available where you live? Our country pages list what’s open to you.
- If there’s a yield, where does it come from?
“If you can’t explain the yield, chances are you are the yield.”
See what each card pays back at your spend.
Open the calculator