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Raycash Card

Updated: Aug 18, 2026

Raycash Card is a payment card within the Raycash self-custody stablecoin account system, designed for everyday spending, online shopping, mobile payments and purchases at physical merchants. User funds are held in on-chain accounts controlled by their own keys. Card purchases are deducted directly from the private stablecoin balance and converted into the local payment currency. The product also combines an IBAN, stablecoin transfers, returns on balances and FHE privacy technology and is positioned as a link between on-chain funds and traditional card spending.
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Confirmed unavailable on App Store
Card network
Mastercard
Product type
Stablecoin payment card
Card form
Physical card / Virtual card
Operating status
Waitlist
KYC level
Full KYC
Commercial relationship
No commercial relationship
Risk score
60-69
Supported assets
USDT / USDC
Last updated
Aug 18, 2026

Official and company information

Issuer identity and company credentials

Raycash is a next-generation decentralized compliant privacy on-chain neobank and crypto card platform powered by Zama's fully homomorphic encryption (FHE) technology. The platform allows users to deposit major stablecoins such as USDC and USDT in a fully self-custodial manner, and through a five-step compliance screening mechanism, achieves privacy-wrapped assets, addressing the pain point of fully exposed on-chain balances and ledgers. While ensuring end-to-end encryption of transaction amounts and protecting user financial privacy, Raycash retains address traceability for compliance, and provides users with dedicated virtual bank accounts (IBAN) and crypto debit cards, supporting seamless high-frequency spending at traditional fiat merchants worldwide.
Visit website Application page
Company / issuer
Raycash
Legal name
Not disclosed
Registered region
Unconfirmed
Headquarters
Global distribution
Company type
Fintech
Verification status
Verified
Issuer website
Official link
Application page
Application link

Card overview

Raycash combines a self-custody wallet, stablecoin balances, IBAN, and bank cards in one account system. After identity verification, the system creates an embedded self-custody wallet through Privy. Eligible accounts can receive funds through bank transfers, on-chain top-ups, or transfers between Raycash users; assets entering the protocol undergo compliance screening and become an encrypted confidential balance. Card spending is settled directly from that balance, with settlement on traditional payment networks completed through partner BaaS/card institutions. Official product documentation provides for virtual cards and physical cards, with support for mobile wallets, 3D Secure, contactless payments, and Chip & PIN. The current website still uses private access and a waitlist as its main entry points, and the formal public application is not yet fully open.
Mastercard card experienceRegional availabilityTerms may change
Notice: No additional notice is available.

Card variants and fee differences

Compare verified fee records across card forms and tiers

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Raycash physical card
Raycash virtual card
Card formPhysical cardVirtual card
Fees
Monthly fee
Free
No monthly maintenance fee.
Free
No monthly maintenance fee.
Card issuance fee
Free
Free issuance
Free
Free issuance
ATM fee——
Foreign exchange fee
1.5%
Spending in non-account currency
1.5%
Spending in non-account currency
Top-up fee
Free
Free on-chain top-up
Free
Free on-chain top-up
Failed transaction fee——
Rewards
Cashback——
Crypto cashback——
Staking rewards——
Staking APR——
Welcome bonus——
Referral bonus——
Limits
Daily spending limit——
Monthly spending limit——
ATM withdrawal limit——
Card network
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Fees may vary by region, card tier, and official policy. Verify the latest official terms.

Regions and China applicability

Application status based on public sources, official policy, and user reports. This is not application advice.

Available regions

Applications or normal card activation are supported

77
BelgiumBEGuernseyGGIndonesiaIDMaltaMTMalaysiaMYMontenegroMEPanamaPACzechiaCZTürkiyeTRGhanaGHMonacoMCChileCLMoldovaMDGreeceGREl SalvadorSVBulgariaBGAustraliaAUJapanJPGibraltarGIOmanOMRomaniaROSloveniaSIIsraelILCyprusCYItalyITMexicoMXUnited Arab EmiratesAEMacaoMOVietnamVNUnited StatesUSAustriaATKazakhstanKZIrelandIEGermanyDESouth KoreaKRPortugalPTFinlandFIEstoniaEESwedenSEFranceFRSaudi ArabiaSAJerseyJENigeriaNGBahrainBHLuxembourgLUUzbekistanUZSwitzerlandCHLatviaLVSpainESGeorgiaGEHungaryHUPhilippinesPHSingaporeSGAndorraADAzerbaijanAZLithuaniaLTEcuadorECUkraineUAKenyaKEPeruPETaiwanTWSlovakiaSKNorwayNOArgentinaARUgandaUGHong KongHKNetherlandsNLUnited KingdomGBDenmarkDKColombiaCOThailandTHPolandPLBrazilBRCroatiaHRIcelandISSouth AfricaZAIsle of ManIM
Evidence
Officially supported

Unsupported or restricted regions

Applications or features are unavailable or restricted

114
HondurasHNMozambiqueMZFijiFJSudanSDGuatemalaGTJordanJOChadTDSolomon IslandsSBEthiopiaETTimor-LesteTLNigerNESamoaWSSeychellesSCDjiboutiDJSouth SudanSSMalawiMWLiberiaLRMyanmar (Burma)MMChinaCNKiribatiKIAlgeriaDZKyrgyzstanKGNamibiaNABahamasBSCôte d’IvoireCIComorosKMEritreaERCongo - KinshasaCDMauritaniaMRPapua New GuineaPGVenezuelaVELaosLABarbadosBBHaitiHTMauritiusMUBurkina FasoBFCongo - BrazzavilleCGGuineaGNNauruNRZimbabweZWTuvaluTVSomaliaSOMoroccoMACanadaCALibyaLYSt. LuciaLCIndiaINNorth KoreaKPMaliMLEswatiniSZGrenadaGDTrinidad & TobagoTTKuwaitKWEgyptEGSri LankaLKNepalNPNew ZealandNZCape VerdeCVSyriaSYCubaCUGambiaGMArmeniaAMTongaTOYemenYEEquatorial GuineaGQAngolaAOGuyanaGYBoliviaBOZambiaZMRwandaRWSenegalSNMongoliaMNMaldivesMVVanuatuVUCosta RicaCRDominicaDMMarshall IslandsMHSão Tomé & PríncipeSTCameroonCMGuinea-BissauGWGabonGABotswanaBWSt. Kitts & NevisKNNicaraguaNIUruguayUYBruneiBNLebanonLBDominican RepublicDOSurinameSRJamaicaJMBeninBJLesothoLSTurkmenistanTMQatarQABangladeshBDTanzaniaTZCambodiaKHTajikistanTJBhutanBTSierra LeoneSLIranIRTogoTGAntigua & BarbudaAGPalauPWTunisiaTNCentral African RepublicCFParaguayPYBurundiBIBelizeBZPakistanPKSt. Vincent & GrenadinesVCIraqIQMadagascarMGAfghanistanAF
Evidence
Officially restricted

Unconfirmed regions

Evidence is insufficient

0

No records

Evidence
Public sources

China applicability

The source text is retained below.

Original

1、中国大陆：不可申请；中国大陆未列入官方卡片覆盖名单，已在支持地区获卡后可在受理 Mastercard 的商户消费。

2、香港：属于官方卡片覆盖地区，当前仍受 private access 资格限制；获卡后可用于线上、移动支付及实体商户消费。

3、澳门：待补充说明属于官方卡片覆盖地区，当前仍受 private access 资格限制；获卡后可在银行卡受理商户进行日常消费。

4、台湾：属于官方卡片覆盖地区，当前仍受 private access 资格限制；获卡后支持线上和实体银行卡消费场景。

Updated: Aug 18, 2026

Policies may change at any time. Verify the latest issuer policy.

KYC requirements

Current identity-verification requirements and restrictions

KYC required

YesRequired

KYC level

Full KYCRequirement confirmed

Proof of address

NoNot required

Accepted documents

Passport / National ID card / Driver's license

Review time / regional limits

Automated verification is usually instant; when routed to manual review, it is typically processed within one business day.

KYC provider

Not disclosed

Updated

Aug 18, 2026

Payment compatibility

Support status and update date by payment scenario · Actual availability may vary by region, merchant, and issuer policy

Compatibility overview12 scenarios
Supported5
Not supported7
UpdatedAug 18, 2026

Wallet payments

Alipay

Not supported

Aug 18, 2026

Wallet payments

Apple Pay

Supported

Aug 18, 2026

Cash services

ATM withdrawal

Not supported

Aug 18, 2026

AI tools

ChatGPT

Not supported

Aug 18, 2026

AI tools

Claude

Not supported

Aug 18, 2026

Wallet payments

Google Pay

Supported

Aug 18, 2026

AI tools

Midjourney

Not supported

Aug 18, 2026

In-person payments

Offline POS

Supported

Aug 18, 2026

Online shopping

Online shopping

Supported

Aug 18, 2026

Wallet payments

PayPal

Not supported

Aug 18, 2026

Subscriptions

Subscription payment

Supported

Aug 18, 2026

Wallet payments

WeChat Pay

Not supported

Aug 18, 2026

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Risk factors

Updated: Aug 18, 2026

No risk factors are available