Ethena PayEthena Pay
87
Side-by-side card comparison
Ethena Pay vs Fuse: overall score versus use-case fit
Ethena Pay Card has the higher Overall Score by 13 points (87 vs 74). Ethena Pay Card looks stronger for Cashback and Travel, while Fuse Card comes out ahead for Funds control, Lowest fees, and Transfers.
Information checked Oct 6, 202628 official sources reviewed
01 · Overall score versus use-case fit
Ethena Pay Card is the better all-round starting point
Ethena Pay Card has the higher Overall Score in this comparison. Fuse Card may be the better fit for Funds control, Lowest fees, and Transfers. A score cannot tell you whether a provider will accept your application or whether every feature will be available where you live, so check the latest provider terms before signing up.
OverallEthena Pay87Fuse74Higher score
CashbackEthena Pay89Fuse25Higher score
TravelEthena Pay68Fuse65Higher score
Funds controlEthena Pay86Fuse91Higher score
Lowest feesEthena Pay87Fuse93Higher score
TransfersEthena Pay82Fuse97Higher score
Choose Ethena Pay Card if cashback and travel matter most
Ethena Pay Card comes out ahead for Cashback and Travel in this comparison. It is worth a closer look if those are the parts of a card you expect to use most.
- Strong Standard cashback bands
- No Standard monthly fee or FX markup
- Collateral stays in linked wallets
Choose Fuse Card if funds control and lowest fees matter most
Fuse Card comes out ahead for Funds control, Lowest fees, and Transfers in this comparison. It is worth a closer look if those are the parts of a card you expect to use most.
- Separate USDC Card Account
- Apple Pay for in-person spend
- USD and EUR receive rails
Where each card has the edge
The overall leader does not win every use case, so the reason you want the card matters here.
- Overall Score
- Ethena Pay87Fuse74
Ethena Pay Card has the higher Overall Score by 13 points.
- Entry cost & FX
- Ethena Pay$0 plan · 0–1% FXFuse$0 plan · 0% FX
Fuse Card has the lower published FX fee (0% vs 0–1%).
- Purchase rewards
- Ethena Pay4% base · up to 5%Fuse0% cashback
Ethena Pay Card has the higher published base cashback rate (4% vs 0%).
- Funds control
- Ethena PayHybrid custodyFuseSelf-controlled wallet
Ethena Pay Card uses a hybrid custody setup, while Fuse Card uses a self-controlled wallet setup. Neither approach is always better, so choose the level of control you are comfortable with.
- Everyday access
- Ethena PayVirtual · Apple PayFuseVirtual · Apple Pay
Both cards list the same number of card formats and phone-wallet options.
- Money movement
- Ethena Pay1 stablecoin · Stablecoin transfers; Ethena Pay user transfer; Bank withdrawalFuse1 stablecoin · Stablecoin transfers; ACH / SEPA bank transfers
Ethena Pay Card lists more stablecoins and ways to send money out (4 vs 3).
02 · Read the shortlist
A closer look at the split decision
Start with the strengths that drive each use-case result, then test them against costs and access.
- Cashback
- 4%-5%
- Plan cost
- $0
- FX fee
- 0–1%
- ATM fee
- $1 + 0.65% where ATM access is available; separate operator surcharge may apply
- Card formats
- Virtual
- Wallet payments
- Apple Pay
- Receive methods
- 0 crypto · 0 fiat
- Payout methods
- 1 crypto · 0 fiat
- Cashback
- 0%
- Plan cost
- $0
- FX fee
- 0%
- ATM fee
- Not available
- Card formats
- Virtual
- Wallet payments
- Apple Pay
- Receive methods
- 3 crypto · 2 fiat
- Payout methods
- 1 crypto · 2 fiat
03 · Compare the details
See how the trade-offs line up
Comparable figures receive a marker; missing or unverified details stay visible instead of becoming an assumed advantage.
Best known Not disclosed
CardsEthena Pay CardOverall87Fuse CardOverall74
Ethena Pay CardOverall87Fuse CardOverall74Scores
6 fields- Overall Score
- Ethena Pay Card87Fuse Card74
- Cashback score
- Ethena Pay Card89Fuse Card25
- Travel score
- Ethena Pay Card68Fuse Card65
- Funds control score
- Ethena Pay Card86Fuse Card91
- Lowest fees score
- Ethena Pay Card87Fuse Card93
- Transfers score
- Ethena Pay Card82Fuse Card97
Strengths & trade-offs
2 fields- Strengths
- Ethena Pay CardStrong Standard cashback bands, No Standard monthly fee or FX markupFuse CardSeparate USDC Card Account, Apple Pay for in-person spend
- Trade-offs
- Ethena Pay CardCard access is still application-gated, One-day payment grace adds liquidation riskFuse CardiOS and virtual-only access, Receive rails convert incoming fiat
Costs
7 fields- Plan cost
- Ethena Pay Card$0Fuse Card$0
- FX fee
- Ethena Pay Card0–1%Fuse Card0%
- Top-up fee
- Ethena Pay CardProvider collateral-funding fee unknown; external network gas is separateFuse Card0%
- Card spending fee
- Ethena Pay Card0%Fuse Card0%
- ATM fee
- Ethena Pay Card$1 + 0.65% where ATM access is available; separate operator surcharge may applyFuse CardNot available
- Virtual card
- Ethena Pay CardUSD 0Fuse CardVirtual card purchase $0 after Bridge KYC
- Physical card
- Ethena Pay CardNot disclosedFuse CardNot available in captured Fuse support page
Plans
2 fields- Available plans
- Ethena Pay Card3 plans: Standard, Pro, VIPFuse Card1 plans: Fuse Plus
- Top cashback plan
- Ethena Pay CardVIP: 5%Fuse CardNot disclosed
Everyday use
8 fields- Network
- Ethena Pay CardVisaFuse CardVisa
- Card formats
- Ethena Pay CardVirtualFuse CardVirtual
- ATM withdrawals
- Ethena Pay CardNot disclosedFuse CardNot available
- Mobile wallets
- Ethena Pay CardApple PayFuse CardApple Pay
- Apps
- Ethena Pay CardiOS, WebFuse CardiOS
- Daily spending limit
- Ethena Pay CardDynamic, based on collateral market valueFuse Card$2,000/day; $2,000/transaction
- Monthly spending limit
- Ethena Pay CardDynamic, based on collateral market valueFuse CardMonthly cap not disclosed; daily and transaction caps are approved
- ATM limit
- Ethena Pay CardNot availableFuse CardNot available
Funding & transfers
5 fields- Networks
- Ethena Pay CardEthereum, Polygon, Optimism, ArbitrumFuse CardSolana
- Crypto deposits
- Ethena Pay CardNot disclosedFuse CardStablecoins: USDC; Other crypto: SOL, SPL tokens
- Fiat deposits
- Ethena Pay CardNot disclosedFuse CardUSD virtual bank account, EUR virtual bank account
- Transfers
- Ethena Pay CardStablecoin transfers; Ethena Pay user transfer; Bank withdrawalFuse CardStablecoin transfers; ACH / SEPA bank transfers
- Payout currencies
- Ethena Pay CardNot disclosedFuse CardUSD, EUR
Rewards
3 fields- Base cashback
- Ethena Pay Card4%Fuse Card0%
- Max cashback
- Ethena Pay Card5%Fuse Card0%
- Reward currency
- Ethena Pay CardAVAXFuse CardNo cashback
Earn
5 fields- Advertised APY
- Ethena Pay CardUp to 6% APYFuse CardNot disclosed
- How it works
- Ethena Pay CardEarn on spending balanceFuse CardOptional earn vault
- Separate deposit
- Ethena Pay CardNoFuse CardYes
- Use balance for spending
- Ethena Pay CardYesFuse CardNo
- Lock-up
- Ethena Pay CardNoFuse CardNot disclosed
Trust & availability
6 fields- Custody
- Ethena Pay CardHybrid custodyFuse CardSelf-custody
- Control until payment
- Ethena Pay CardYou keep controlFuse CardYou keep control
- Card issuer
- Ethena Pay CardThird NationalFuse CardLead Bank
- Card processing
- Ethena Pay CardSignify Holdings, Inc. d/b/a RainFuse CardBridge Ventures LLC, Squads Labs
- Identity verification
- Ethena Pay CardSumsubFuse CardNot disclosed
- Programme operator
- Ethena Pay CardNot disclosedFuse CardBridge Ventures LLC
Sources
2 fields- Official sources
- Ethena Pay Card13Fuse Card15
- Last reviewed
- Ethena Pay CardOct 6, 2026Fuse CardAug 29, 2026
04 · The trade-off
Ethena Pay Card is the stronger all-round choice
Ethena Pay Card finishes ahead with an Overall Score of 87 versus 74 for Fuse Card. Fuse Card has the lower published FX fee (0% vs 0–1%). Ethena Pay Card has the higher published base cashback rate (4% vs 0%).
Fuse Card still comes out ahead for Funds control, Lowest fees, and Transfers, which may matter more than the overall result if that is how you plan to use the card. Ethena Pay Card uses a hybrid custody setup, while Fuse Card uses a self-controlled wallet setup. Neither approach is always better, so choose the level of control you are comfortable with.
Ethena Pay Card lists more stablecoins and ways to send money out (4 vs 3). Before applying, confirm availability in your country and recheck the provider's current fees and reward conditions.
If one card now looks like the better fit, you can check the latest application terms on the provider site or read our full Ethena Pay Card and Fuse Card reviews first.
Continue with
Ethena Pay Card
Continue with
Fuse Card
05 · Common questions
Ethena Pay vs Fuse FAQ
Is Ethena Pay or Fuse better overall?
Ethena Pay Card has the higher Overall Score (87 vs 74). That does not make it better for everyone: your preferred fees, rewards, way of holding funds and country availability can change the practical choice.
Which has lower fees, Ethena Pay or Fuse?
Fuse Card has the lower published FX fee (0% vs 0–1%). Compare plan, FX, card-spend, top-up and ATM charges separately because one fee does not represent the full cost.
Which has better cashback, Ethena Pay or Fuse?
Ethena Pay Card has the higher published base cashback rate (4% vs 0%). Maximum rates may depend on tiers, caps, categories or other conditions, so the entry rate and reward asset matter too.
How do Ethena Pay and Fuse differ on custody?
Ethena Pay Card uses a hybrid custody setup, while Fuse Card uses a self-controlled wallet setup. Neither approach is always better, so choose the level of control you are comfortable with.
How current is this Ethena Pay vs Fuse comparison?
The latest information check for these two cards was October 6, 2026, using 28 official sources in total. Each full card review lists its own check date, sources and anything the provider has not clearly disclosed.