Ethena PayEthena Pay
86
Side-by-side card comparison
Ethena Pay vs Kolo: overall score versus use-case fit
Ethena Pay Card has the higher Overall Score by 13 points (86 vs 73). Ethena Pay Card looks stronger for Cashback, Funds control, and Lowest fees, while Kolo Card comes out ahead for Travel and Transfers.
Information checked Sep 1, 202640 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. Kolo Card may be the better fit for Travel 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 Pay86Kolo73Higher score
CashbackEthena Pay89Kolo54Higher score
TravelEthena Pay64Kolo70Higher score
Funds controlEthena Pay86Kolo56Higher score
Lowest feesEthena Pay87Kolo83Higher score
TransfersEthena Pay82Kolo92Higher score
Choose Ethena Pay Card if cashback and funds control matter most
Ethena Pay Card comes out ahead for Cashback, Funds control, and Lowest fees 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 Kolo Card if travel and transfers matter most
Kolo Card comes out ahead for Travel and Transfers in this comparison. It is worth a closer look if those are the parts of a card you expect to use most.
- Free virtual Visa Platinum
- 2% BTC cashback for 30 days
- Several withdrawal routes
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 Pay86Kolo73
Ethena Pay Card has the higher Overall Score by 13 points.
- Entry cost & FX
- Ethena Pay$0 plan · 0% Ethena Pay markup; Visa rate applies FXKolo$0 plan · 1% FX
Ethena Pay Card has the lower published FX fee (0% Ethena Pay markup; Visa rate applies vs 1%).
- Purchase rewards
- Ethena Pay4% base · up to 5%Kolo1% base · up to 2%
Ethena Pay Card has the higher published base cashback rate (4% vs 1%).
- Funds control
- Ethena PayHybrid custodyKoloCustodial balance
Ethena Pay Card uses a hybrid custody setup, while Kolo Card uses a custodial balance setup. Neither approach is always better, so choose the level of control you are comfortable with.
- Everyday access
- Ethena PayVirtual · Apple PayKoloVirtual · Apple Pay, Google Pay
Kolo Card lists more card formats and phone-wallet options (3 vs 2).
- Money movement
- Ethena Pay1 stablecoin · Stablecoin transfers; Ethena Pay user transfer; Bank withdrawalKolo5 stablecoins · Stablecoin transfers; Kolo user transfers, Transfers between your Kolo wallets; Withdraw to an eligible card, EUR SEPA withdrawal
Kolo Card lists more stablecoins and ways to send money out (10 vs 4).
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% Ethena Pay markup; Visa rate applies
- ATM fee
- Not available
- Card formats
- Virtual
- Wallet payments
- Apple Pay
- Receive methods
- 0 crypto · 0 fiat
- Payout methods
- 1 crypto · 0 fiat
- Cashback
- 1%-2%
- Plan cost
- $0
- FX fee
- 1%
- ATM fee
- $1 + 0.65%
- Card formats
- Virtual
- Wallet payments
- Apple Pay, Google Pay
- Receive methods
- 20 crypto · 0 fiat
- Payout methods
- 20 crypto · 1 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 CardOverall86Kolo CardOverall73
Ethena Pay CardOverall86Kolo CardOverall73Scores
6 fields- Overall Score
- Ethena Pay Card86Kolo Card73
- Cashback score
- Ethena Pay Card89Kolo Card54
- Travel score
- Ethena Pay Card64Kolo Card70
- Funds control score
- Ethena Pay Card86Kolo Card56
- Lowest fees score
- Ethena Pay Card87Kolo Card83
- Transfers score
- Ethena Pay Card82Kolo Card92
Strengths & trade-offs
2 fields- Strengths
- Ethena Pay CardStrong Standard cashback bands, No Standard monthly fee or FX markupKolo CardFree virtual Visa Platinum, 2% BTC cashback for 30 days
- Trade-offs
- Ethena Pay CardCard access is still application-gated, One-day payment grace adds liquidation riskKolo CardConversion and FX fees can stack, Card spending uses a custodial wallet
Costs
7 fields- Plan cost
- Ethena Pay Card$0Kolo Card$0
- FX fee
- Ethena Pay Card0% Ethena Pay markup; Visa rate appliesKolo Card1%
- Top-up fee
- Ethena Pay CardProvider collateral-funding fee unknown; external network gas is separateKolo Card0%
- Card spending fee
- Ethena Pay Card0%Kolo CardNot disclosed
- ATM fee
- Ethena Pay CardNot availableKolo Card$1 + 0.65%
- Virtual card
- Ethena Pay CardUSD 0Kolo CardFree
- Physical card
- Ethena Pay CardNot disclosedKolo CardPlanned for Q3 2026; not currently available
Plans
2 fields- Available plans
- Ethena Pay Card3 plans: Standard, Pro, VIPKolo CardNot disclosed
- Top cashback plan
- Ethena Pay CardVIP: 5%Kolo CardNot disclosed
Everyday use
8 fields- Network
- Ethena Pay CardVisaKolo CardVisa
- Card formats
- Ethena Pay CardVirtualKolo CardVirtual
- ATM withdrawals
- Ethena Pay CardNot availableKolo CardAvailable
- Mobile wallets
- Ethena Pay CardApple PayKolo CardApple Pay, Google Pay
- Apps
- Ethena Pay CardiOS, WebKolo CardiOS, Android
- Daily spending limit
- Ethena Pay CardDynamic, based on collateral market valueKolo Card$9,000/day
- Monthly spending limit
- Ethena Pay CardDynamic, based on collateral market valueKolo Card$9,000/month
- ATM limit
- Ethena Pay CardNot availableKolo Card$500/withdrawal; 3 withdrawals/24h
Funding & transfers
5 fields- Networks
- Ethena Pay CardEthereum, Polygon, Optimism, ArbitrumKolo CardNot disclosed
- Crypto deposits
- Ethena Pay CardNot disclosedKolo CardStablecoins: USDT, USDC, DAI, EURC, EURI; Other crypto: BTC, ETH, SOL, BNB, LTC +10
- Fiat deposits
- Ethena Pay CardNot disclosedKolo CardNot disclosed
- Transfers
- Ethena Pay CardStablecoin transfers; Ethena Pay user transfer; Bank withdrawalKolo CardStablecoin transfers; Kolo user transfers, Transfers between your Kolo wallets; Withdraw to an eligible card, EUR SEPA withdrawal
- Payout currencies
- Ethena Pay CardNot disclosedKolo CardEUR
Rewards
3 fields- Base cashback
- Ethena Pay Card4%Kolo Card1%
- Max cashback
- Ethena Pay Card5%Kolo Card2%
- Reward currency
- Ethena Pay CardAVAXKolo CardBTC cashback
Earn
5 fields- Advertised APY
- Ethena Pay CardUp to 6% APYKolo CardNot offered
- How it works
- Ethena Pay CardEarn on spending balanceKolo CardNot offered
- Separate deposit
- Ethena Pay CardNoKolo CardNot offered
- Use balance for spending
- Ethena Pay CardYesKolo CardNot offered
- Lock-up
- Ethena Pay CardNoKolo CardNot offered
Trust & availability
6 fields- Custody
- Ethena Pay CardHybrid custodyKolo CardCustodial
- Control until payment
- Ethena Pay CardYou keep controlKolo CardProvider controls funds
- Card issuer
- Ethena Pay CardThird NationalKolo CardBanco Popular de Puerto Rico, Wirex Limited
- Card processing
- Ethena Pay CardSignify Holdings, Inc. d/b/a RainKolo CardNot disclosed
- Identity verification
- Ethena Pay CardSumsubKolo CardSumSub
- Programme operator
- Ethena Pay CardNot disclosedKolo CardHardline Holding Limited
Sources
2 fields- Official sources
- Ethena Pay Card12Kolo Card28
- Last reviewed
- Ethena Pay CardSep 1, 2026Kolo CardAug 28, 2026
04 · The trade-off
Ethena Pay Card is the stronger all-round choice
Ethena Pay Card finishes ahead with an Overall Score of 86 versus 73 for Kolo Card. Ethena Pay Card has the lower published FX fee (0% Ethena Pay markup; Visa rate applies vs 1%). Ethena Pay Card has the higher published base cashback rate (4% vs 1%).
Kolo Card still comes out ahead for Travel 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 Kolo Card uses a custodial balance setup. Neither approach is always better, so choose the level of control you are comfortable with.
Kolo Card lists more stablecoins and ways to send money out (10 vs 4). 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 Kolo Card reviews first.
Continue with
Ethena Pay Card
Continue with
Kolo Card
05 · Common questions
Ethena Pay vs Kolo FAQ
Is Ethena Pay or Kolo better overall?
Ethena Pay Card has the higher Overall Score (86 vs 73). 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 Kolo?
Ethena Pay Card has the lower published FX fee (0% Ethena Pay markup; Visa rate applies vs 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 Kolo?
Ethena Pay Card has the higher published base cashback rate (4% vs 1%). 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 Kolo differ on custody?
Ethena Pay Card uses a hybrid custody setup, while Kolo Card uses a custodial balance setup. Neither approach is always better, so choose the level of control you are comfortable with.
How current is this Ethena Pay vs Kolo comparison?
The latest information check for these two cards was September 1, 2026, using 40 official sources in total. Each full card review lists its own check date, sources and anything the provider has not clearly disclosed.