MEXC & ether.fi Launch Crypto Credit Card with 4% Cashback

The MEXC x ether.fi card represents a core component of ether.fi CEO Mike Silagadze’s vision for his platform as a “DeFi bank.” Built on self-custodial crypto infrastructure, the initiative is designed to offer a comprehensive, end-to-end alternative to traditional financial institutions. “What excites me is when I see people using ether.fi as an alternative to their banks,” Silagadze stated, emphasizing the shift of power to users. The card enables holders to either spend their digital assets directly or borrow against their crypto holdings, providing flexibility that traditional cards lack.

Silagadze framed the product as a seamless on-ramp to the US dollar for international users or a “higher rewards financial product” for those already in the U.S. This dual utility underscores the partnership’s goal: to make digital assets simple and accessible for MEXC’s claimed 40 million users while appealing to crypto newcomers through a slick interface and competitive conversion rates. The CEO’s assertion that the card is “objectically a much better product for people” hinges on its combination of decentralized finance principles with mainstream payment convenience.

Beyond its foundational technology, the card’s appeal is heavily driven by its rewards structure. Cardholders can earn up to 4% cashback on purchases, supplemented by exclusive perks including travel discounts, savings of up to 65% on luxury hotels, and access to conference passes. The partners are aggressively promoting adoption with limited-time offers; during January, users can earn up to 15% cashback specifically on food and dining purchases.

To incentivize new users, the companies are offering a 15 USDT airdrop to those who complete a first deposit of more than 100 USDT. A referral program further fuels growth, rewarding existing cardholders with 10 USDT for every person they onboard, plus 1% cashback on the referred user’s subsequent purchases. The card is a virtual product, compatible with Apple Pay and Google Pay, and is currently available in over 60 countries across Asia, Europe, and South America. Obtaining it requires advanced Know Your Customer (KYC) verification, with funding available via bank transfer or non-custodial wallets.

The launch is a direct challenge to the dominance of fiat currency in everyday transactions, from supermarket shops to major online purchases. Silagadze noted that the crypto market is “evolving toward much more real-world use cases of crypto in people’s day-to-day lives.” By partnering with Visa, the world’s largest payment network, MEXC and ether.fi are leveraging established rails to inject crypto liquidity directly into the global economy.

This strategy focuses on utility and accessibility, targeting both seasoned crypto users and those new to digital assets. The emphasis on seamless spending, competitive rewards, and integration with familiar payment systems like Visa, Apple Pay, and Google Pay is a calculated effort to lower the barrier to crypto adoption. For the partners, the card is more than a payment tool; it’s a flagship product in their mission to demonstrate that decentralized finance can provide tangible, superior benefits compared to what Silagadze calls “old-fashioned providers.”