THORWallet Card
MastercardhybridKYC: required
3.0 / 5
Net Reward1.3
Availability2.5
Custody & Risk3.5
Features3.0
UX4.0
The THORWallet Card is a virtual MasterCard debit card linked to a Swiss IBAN account, designed for crypto users who want to spend digital assets globally while retaining self-custody until conversion. The card enables direct top-ups with USDC (Arbitrum), instantly converting to fiat for spending at any MasterCard-accepting merchant.
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Slug: thorwallet-card
Our Verdict
DeFi power users who actively participate in decentralized finance and value self-custody of their crypto assets, international travelers who need multi-currency support, high-volume crypto spenders who can benefit from lower conversion fees of premium tiers, and privacy-conscious users who prefer Swiss banking protections.
Pros and cons
Pros
- Non-custodial approach preserves crypto self-custody until conversion
- Swiss banking infrastructure provides exceptional security and reliability
- No monthly or annual maintenance fees across all tiers
- High spending and transfer limits, especially for premium tiers
- Competitive conversion fees for Gold (0.5%) and Platinum (0.25%) tiers
- Free bank wire top-ups via SEPA and SWIFT
Cons
- Currently virtual card only with no physical card option
- Card-spend cashback still in development (targeted Q4 2025, not yet live)
- Significant upfront costs for Gold (1.5 ETH) and Platinum (15 ETH) tiers
- Limited to three cryptocurrencies for direct bank account top-up
- Not available in the United States and several other jurisdictions
- Card issuance limited to residents of ~65 countries (though banking available in 100+)
- Banking and card features only manageable via mobile app
Supported chains
Arbitrum
Supported cryptos
BTCETHSOLUSDCUSDT
Fees
Annual: None
Monthly: None
Issuance: See card_tiers (Free to 15 ETH depending on tier)
Crypto To Fiat: See card_tiers (0.25%-1% depending on tier)
Purchase Transaction: None
Key Features
- Non-custodial crypto approach with Swiss IBAN multi-currency account
- Supports USDC, USDT, and ETH (Arbitrum) for bank account top-ups
- Virtual MasterCard compatible with Apple Pay, Google Pay, Samsung Pay
- High spending limits (up to $200,000/month) and bank transfer limits (up to $10M/month)
- Card service available to residents of ~65 countries; Swiss IBAN banking available in 100+ countries
- Swiss banking security with funds held at Swiss National Bank
- Integrated with comprehensive THORWallet DeFi platform
- Can be linked to PayPal and other payment processors
- 40+ million merchants worldwide acceptance
Limitations
- Currently virtual card only (no physical cards available)
- Card-spend cashback rewards still in development (targeted Q4 2025)
- Significant one-time fees for Gold (1.5 ETH) and Platinum (15 ETH) tiers
- Limited to three cryptocurrencies for direct bank account top-up (USDC, USDT, ETH on Arbitrum)
- Not available in the United States and several other jurisdictions
- Card issuance limited to residents of ~65 countries (though banking available in 100+)
- Banking and card features only manageable via mobile app (not web app)
- No ATM access due to virtual-only card format
- Manual conversion required before spending (no auto-conversion at point of sale)
- In restricted availability countries, Standard tier users receive only bank account with $1,000 monthly limit and no debit card
Risks
- CounterpartyFiat funds are held custodially once converted, subject to Fiat24/Swiss banking protectionsUpon conversion, fiat is held custodially at the Swiss National Bank
- MarketRewards paid in volatile $TITN tokens, rating penalized for payout in volatile TIT tokensRating slightly penalized for payout in volatile TIT tokens
- RegulatoryGeographic restrictions may change; not available in US and sanctioned jurisdictionsNot available in United States, Russia, Belarus, Iran, North Korea, Other sanctioned jurisdictions
Rewards & Cashback
Notes: DeFi Swap Cashback currently live: USDC cashback on DeFi swaps within the app via Fee Return Rewards (FRR), distributing 70% of swap fees to $TITN stakers. Tier-based multipliers announced but specific percentages not yet publicly specified.
Reward Token: $TITN
Cashback Rate: Coming soon (targeted Q4 2025)
Eligibility Requirements: Card-spend cashback still in development
Spending Limits
Notes: Monthly bank transfers: ~$100,000 Standard, ~$1,000,000 Gold, ~$10,000,000 Platinum. Users in certain higher-risk countries on Standard tier receive only bank account access with $1,000 monthly limit and no debit card.
Daily Spending: See card_tiers ($10,000 Standard, $100,000 Gold/Platinum)
Monthly Spending: See card_tiers ($20,000 Standard, $200,000 Gold/Platinum)
Top-Up Methods
USDC (Arbitrum)USDT (Arbitrum)ETH (Arbitrum)SEPA bank transferSWIFT bank transfer
Processing Time: Instant settlement once confirmed with funds immediately available
Banking & Financial Services
✓
IBAN
✓
SEPA Transfers
✓
SWIFT
✓
Virtual Accounts
Swiss IBAN Account with multi-currency support (CHF, EUR, USD, CNY). Fiat funds held directly at Swiss National Bank as 100% reserves. Free SEPA and SWIFT transfers for top-ups.
Credit & Loan Products
This is a prepaid debit card, not a credit card
Security Features
Features: Two-factor authentication,Biometric locks,Instant card freeze/unfreeze,3-D Secure for online purchases,AML monitoring and transaction screening,Multisignature and threshold signature scheme (TSS)
Insurance: Fiat funds held at Swiss National Bank as 100% reserves under Swiss regulatory requirements
Custody Partners: Fiat24,Swiss National Bank
Mobile Wallet Support
Apple PayGoogle PaySamsung PayiOSAndroid
Best For
DeFi power users who actively participate in decentralized finance and value self-custody of their crypto assets, international travelers who need multi-currency support, high-volume crypto spenders who can benefit from lower conversion fees of premium tiers, and privacy-conscious users who prefer Swiss banking protections.
Custody Model
hybridUsers control private keys for crypto until manual conversion to fiat. Upon conversion, fiat is held custodially at the Swiss National Bank as 100% reserve. Non-custodial for crypto, custodial for fiat.
Risk: If provider disappears, unconverted crypto remains accessible; fiat in IBAN is subject to banking protections.
Card Issuer & Compliance
Issuer Name: Fiat24 (operated by SR Saphirstein AG)
Kyc Required: true
Issuer License: FINMA FinTech license (deposit-taking)
Platform Licenses: Swiss FINMA FinTech license
Availability
Card issued to residents of ~65 countries; Swiss IBAN account in 100+ countries; card accepted for spending in 100+ countries worldwide. Available (39 countries with full card access). Restricted (25 countries - bank account only on Standard tier or fully excluded).
Card Tiers
Standard
Virtual onlyVirtual only
Free, KYC verification required
Fees
Issuance: Free
Top-up: 1.0%
Monthly: None
Monthly Limit: $20,000
MasterCardApple PayGoogle PaySamsung Pay
Cashback: Base rate (TBA)
Daily spending limit: $10,000Monthly bank transfer limit: ~$100,000Crypto top-up/FX fee: 1.0%Free Swiss multi-currency account
Gold
Virtual onlyVirtual only
1.5 ETH one-time payment
Fees
Issuance: 1.5 ETH one-time
Top-up: 0.5%
Monthly: None
Monthly Limit: $200,000
MasterCardApple PayGoogle PaySamsung Pay
Cashback: Higher (TBA)
Daily spending limit: $100,000Monthly bank transfer limit: ~$1,000,000Crypto top-up/FX fee: 0.5%20% referral commission on card-related feesLower fees
Platinum
Virtual onlyVirtual only
15 ETH one-time payment
Fees
Issuance: 15 ETH one-time
Top-up: 0.25%
Monthly: None
Monthly Limit: $200,000
MasterCardApple PayGoogle PaySamsung Pay
Cashback: Highest (TBA)
Daily spending limit: $100,000Monthly bank transfer limit: ~$10,000,000Crypto top-up/FX fee: 0.25%20% referral commission on card-related feesUltra-low feesHighest future cashback
Token Economics
$TITN
Staking APY
APY
Referral: 20% commission on card-related fees for Gold and Platinum users
User Ratings
4.0/5.0 (535 ratings)
Google Play
4.0/5.0 (112 ratings)
App Store
Positive: App design, customer service, non-custodial philosophy. Critical: Lack of physical cards, delayed card-spend cashback implementation. Good technical reliability with no significant reports of downtime or transaction failures.
Roadmap & Updates
Expansion: Ongoing expansion throughout 2025
Planned Features:
- Card-Spend Cashback: Launch targeted for Q4 2025 with tier-based multipliers
- Welcome Bonus Activation: $25 in $TITN tokens for new users (KYC + first top-up)
- Physical Cards: Potential introduction (no confirmed timeline)
- Enhanced Rewards: Further development of $TITN token ecosystem
Recent Updates:
- $TITN token launched May 23, 2025
- Listed on Binance, Gate, and OKX
- Code4rena competitive audit conducted February 2025
Conclusion
THORWallet Card represents a significant innovation in the crypto-banking space, offering a unique blend of decentralized finance principles with traditional Swiss banking infrastructure. Its standout features include the non-custodial approach to crypto management, the Swiss IBAN account with multi-currency support backed by the Swiss National Bank, and the high transaction limits available to premium tier users. However, prospective users should be aware of current limitations including the absence of physical cards, delayed implementation of card-spend cashback (still targeted for Q4 2025), and geographic restrictions on card issuance. The significant upfront costs for Gold and Platinum tiers may be prohibitive for many users, though these can potentially be offset by the lower conversion fees for high-volume users. Overall, THORWallet Card is best suited for crypto enthusiasts who prioritize self-custody, appreciate Swiss banking security, and actively use DeFi applications.
Card launched: 2024 (with ongoing expansion throughout 2025)
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