Head to head
Cashi vs Ethena Pay
Both cards run on the same benchmark test, so this compares deducted cost rather than advertised rates.
| Metric | Ca Cashi | Et Ethena Pay |
|---|---|---|
| Overall rank | #5 of 27 | #6 of 27 |
| FX spread | 0% | 1% |
| Base cashback | No cashback | 4% |
| Custody | Custodial | Non-Custodial (no option to see keys until deleting account |
| Virtual card | Yes Free | Yes, Free |
| Physical card | No | No |
| Spend limit | - | |
| ATM withdrawals | - | |
| Setup time | 7 minutes | 10 minutes |
| KYC steps | 3 | 5 |
| Score | 7.9/10 | 7.5/10 |
Cashi
Cashi is in its beta and is only a few weeks old; should you want better features, they exist elsewhere. There are not too many fees; there's not enough information and documentation on the internet about the card, and the team are actively getting things to a high-tier level. Cashi on-ramp system is amazing. Many Neobanks don't provide many on-ramp rails to South Africans (no ZAR still), but the process is quick, and the fees are very low. €1,000 deposit = 7.21 fees Bank address with my own name on it Deposit time = 3-5 minutes. Definitely one of the best Neobanks for the normies right now. It's not perfect, it isn't offering the same perks as many competitors, but the experience is solid. Cashi is building to become a high-quality platform. Sadly no US account just yet, and low rewards. I believe there's a good future on the card, but its not here yet.
Ethena Pay
Crypto Card Review: Ethena Pay I've been testing Ethena Pay for the last couple of days, and it feels (almost) premium. It's in Beta and nearly ready for public launch; here are my first thoughts. Positives: - Non-USD FX Fee: 1% (cashback negates and beats this) - 4% Cashback on all purchases is sweet (up to 5% w/Pro) - UI is possibly the best among all cards I've tested - Personal US/EUR/GBP IBAN accounts - Insights page showing spending by categories and earning breakdowns - 5% APY - Instant deposits with limited Fees Negatives: - Apple Only (for now) - Multiple "Coming Soon" features - Non-custodial, but no way to see your keys without deleting your account. Rating: 7.5/10 As soon as it's on Android and includes a few of its promised upcoming features, this will be a 9/10.
Who ranks these cards
I'm Tristyn Pawson, founder of ConsistenC.xyz. Over the last five years I've worked on marketing, development and growth across five crypto cards and neobanks, building at least three of them from scratch.
Alongside that I've run in-depth research on 20+ crypto banks to understand what actually makes someone keep a card in their wallet. These rankings reflect that: which problems are tolerable, and which ones are genuine deal breakers.
- Years in market
- 5
- Cards built on
- 5
- Neobanks researched
- 20+