Revolut unveils first physical crypto card as industry-wide card usage grows

Revolut is launching its first physical crypto card — a Dogecoin-themed debit card featuring an LED display that lights up when users tap to pay. 

The move comes amid a growing wave of crypto card adoption, as exchanges like Crypto.com, Coinbase and Binance increase their availability. Gemini has pointed to its card operations as an increasingly important revenue driver, while stablecoin firms and wallets begin to present cards as natural extensions of their operations. 

According to The Block’s data, crypto card payments have been on an upward trend since at least last year. The number of daily crypto card transactions has surpassed 100,000 on several days in recent weeks.

Expand Chart

The card will be usable anywhere Visa and Mastercard are accepted, and will first roll out firm in the UK and European Economic Area, excluding Hungary, Switzerland, and Portugal, according to an announcement on Monday. 

On X, the firm noted there will not be additional exchange fees, though "crypto card payments are subject to the exchange rate at the point of transaction" and may incur a tax expense. 

Revolut has been expanding its crypto footprint. Last year, the firm embedded Polygon in its app to enable remittances, POL staking, and in-app crypto card payments.

This also comes as it looks to expand its banking services. In March, Revolut received regulatory approval to launch a fully licensed bank in the United Kingdom, shortly after launching a bid to gain a de novo banking license in the U.S., which some commentators see as a potential avenue to launch a GENIUS-compliant stablecoin.