MPChatMPChat
52
Side-by-side card comparison
MPChat vs Ethena Pay
Ethena Pay Card has the higher Overall Score by 37 points (89 vs 52). MPChat Card looks stronger for Travel, while Ethena Pay Card comes out ahead for Cashback, Funds control, Lowest fees, and Transfers.
Latest check Nov 12, 202643 official sources reviewed
MPChat Card
Best fit
- MPChat Pay users allocating USDT to a separate Visa spending balance.
- Choosing Cloud for online payments or Boundless for physical-card use.
- Occasional card use with a one-time issuance price and no monthly plan fee.
Before you choose
- Each purchase costs 0.8%, plus variable USDT conversion and any issuer FX.
- Cloud costs 10 USDT; Boundless costs 100 USDT and charges 2% for ATMs.
- The Web3 wallet cannot fund purchases directly; allocate funds from MPChat Pay.
Ethena Pay Card
Best fit
- USDe users combining card spending with eligible Daily Boost balances.
- Funding through USD, EUR or GBP bank transfers, or USDe, USDT and USDC.
- Standard's 4% cashback on the first $2,500 of qualifying monthly spend.
Before you choose
- Cashback is paid in AVAX, with Standard falling to 1% and then 0%.
- Daily Boost is variable and requires at least one qualifying purchase each month.
- The card uses linked collateral that can be liquidated after a shortfall.
Fees & features
Compare the details
CardsMPChat CardOverall52Ethena Pay CardOverall89
MPChat CardOverall52Ethena Pay CardOverall89Scores
- Overall Score
- MPChat Card52Ethena Pay Card89
- Cashback score
- MPChat Card18Ethena Pay Card89
- Travel score
- MPChat Card72Ethena Pay Card69
- Funds control score
- MPChat Card41Ethena Pay Card91
- Lowest fees score
- MPChat Card60Ethena Pay Card87
- Transfers score
- MPChat Card58Ethena Pay Card98
Costs
- Plan cost
- MPChat Card$0Ethena Pay Card$0
- FX fee
- MPChat Card0% MPChat FX markup; Visa/issuer FX is passed through and varies by country and region. Purchase fees and USDT conversion costs are separateEthena Pay Card0–1%
- Top-up fee
- MPChat CardUSDT on Tron (TRC20); minimum received 10 USDT; allocate Pay balance to cardEthena Pay CardProvider collateral-funding fee unknown; external network gas is separate
- Card spending fee
- MPChat Card$0.10 + 0.8%Ethena Pay Card0%
- ATM fee
- MPChat CardBoundless only: 2%, minimum $1; Cloud has no ATM accessEthena Pay Card$1 + 0.65% where ATM access is available; separate operator surcharge may apply
- Virtual card
- MPChat CardCloud: 10 USDT one timeEthena Pay CardUSD 0
- Physical card
- MPChat CardBoundless: 100 USDT one timeEthena Pay CardNot disclosed
Plans & rewards
- Available plans
- MPChat Card2 plans: Cloud Card, Boundless CardEthena Pay Card3 plans: Standard, Pro, VIP
- Top cashback plan
- MPChat CardNot disclosedEthena Pay CardVIP: 5%
- Base cashback
- MPChat CardNot disclosedEthena Pay Card4%
- Max cashback
- MPChat CardNot disclosedEthena Pay Card5%
- Reward currency
- MPChat CardNot disclosedEthena Pay CardAVAX
Everyday use
- Network
- MPChat CardVisaEthena Pay CardVisa
- Card formats
- MPChat CardVirtual, PhysicalEthena Pay CardVirtual
- ATM withdrawals
- MPChat CardAvailableEthena Pay CardNot disclosed
- Mobile wallets
- MPChat CardGoogle PayEthena Pay CardApple Pay
- Apps
- MPChat CardNot disclosedEthena Pay CardiOS, Web
- Daily spending limit
- MPChat CardUp to $250,000 and conservatively 50 purchases per day; app limits may be lowerEthena Pay CardDynamic, based on collateral market value
- Monthly spending limit
- MPChat CardUp to $1,000,000 per month; app limit may be lowerEthena Pay CardDynamic, based on collateral market value
- ATM limit
- MPChat CardBoundless: up to $1,500 per withdrawal and day; $15,000 monthlyEthena Pay CardNot available
Funding & transfers
- Networks
- MPChat CardTron (TRC20)Ethena Pay CardEthereum, Polygon, Optimism, Arbitrum
- Crypto deposits
- MPChat CardStablecoins: USDTEthena Pay CardStablecoins: USDe, USDT, USDC
- Fiat deposits
- MPChat CardNot disclosedEthena Pay CardBank transfer
- Transfers
- MPChat CardStablecoin transfersEthena Pay CardStablecoin transfers; Ethena Pay user transfer; Bank withdrawal, Bank transfer funding
- Payout currencies
- MPChat CardNot disclosedEthena Pay CardUSD, EUR, GBP
Earn
- Advertised APY
- MPChat CardNot offeredEthena Pay CardUp to 6% APY
- How it works
- MPChat CardNot offeredEthena Pay CardEarn on spending balance, Optional earn vault
- Separate deposit
- MPChat CardNot offeredEthena Pay CardVaries
- Use balance for spending
- MPChat CardNot offeredEthena Pay CardNot disclosed
- Lock-up
- MPChat CardNot offeredEthena Pay CardNot disclosed
Trust & availability
- Custody
- MPChat CardCustodialEthena Pay CardHybrid custody
- Control until payment
- MPChat CardProvider controls fundsEthena Pay CardYou keep control
- Card issuer
- MPChat CardNot disclosedEthena Pay CardThird National
- Card processing
- MPChat CardNot disclosedEthena Pay CardSignify Holdings, Inc. d/b/a Rain
- Identity verification
- MPChat CardNot disclosedEthena Pay CardSumsub
Sign-up Offers
MPChat Card
Partner offer5 USDT after first virtual card approval
Complete application and card approval; the reward is credited to MPChat Pay after approval.
MPChat's friend-benefits page states 5 USDT after first virtual-card approval; one application guide uses 5 USD wording.
Offer details & conditions
Ethena Pay Card
No active signup offer listed.
Choosing between these cards
When to choose MPChat or Ethena Pay
Keeping control of your funds
Ethena Pay suits spending while retaining control of your funds until payment. With MPChat, control passes to the provider before the purchase.
Using an exchange account
Ethena Pay does not require a centralised-exchange account; MPChat does. Consider MPChat if you already want to use that exchange, or Ethena Pay if you want to avoid that account requirement.
Using the crypto you already hold
MPChat's reviewed deposit assets include USDT; Ethena Pay's include USDC, USDe. If you already hold one of these assets, compare its deposit network and conversion route before moving funds.
Common questions
MPChat vs Ethena Pay FAQ
Is MPChat or Ethena Pay better overall?
Ethena Pay Card has the higher Overall Score (89 vs 52). 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, MPChat or Ethena Pay?
MPChat Card has the lower published FX fee (0% MPChat FX markup; Visa/issuer FX is passed through and varies by country and region. Purchase fees and USDT conversion costs are separate 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, MPChat or Ethena Pay?
The providers have not published enough matching base cashback information to name a winner. Check the maximum rates, reward assets, caps and conditions below. Maximum rates may depend on tiers, caps, categories or other conditions, so the entry rate and reward asset matter too.
How do MPChat and Ethena Pay differ on custody?
MPChat Card uses a custodial balance setup, while Ethena Pay Card uses a hybrid custody setup. Neither approach is always better, so choose the level of control you are comfortable with.
How current is this MPChat vs Ethena Pay comparison?
The latest information check for these two cards was November 12, 2026, using 43 official sources in total. Each full card review lists its own check date, sources and anything the provider has not clearly disclosed.