Head to head
Karta vs Ethena Pay
Both cards run on the same benchmark test, so this compares deducted cost rather than advertised rates.
| Metric | Ka Karta | Et Ethena Pay |
|---|---|---|
| Overall rank | #31 of 35 | #1 of 35 |
| FX spread | 2.5% | 1% |
| Base cashback | No cashback | 4% |
| Custody | Non-Custodial | Non-Custodial (no option to see keys until deleting account |
| Virtual card | $5 | Yes, Free |
| Physical card | Plastic - $99, Metal - $299 | No |
| Spend limit | No spending limit | |
| ATM withdrawals | $1 plus 2.5% per withdrawal | |
| Setup time | 6 minutes | 10 minutes |
| KYC steps | 3 | 5 |
| Score | 6.4/10 | 8.5/10 |
Karta
Karta gives Telegram users a straightforward way to spend stablecoins globally, and the lounge access is unusually cheap for what it is. But no cashback, a 2.5% payment fee and steep issuance costs make it an expensive card for everyday retail spending.
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+