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Businesses and industries across the board are seeing the benefits of cryptocurrency and the growing appeal of Web3 finance. By 2024, 78% of businesses in the banking sector plan to implement cryptocurrency in e-commerce or have done so already. The increased demand for cryptocurrency over recent years has led to the emergence of crypto debit and credit cards to help ensure customers can mobilize their crypto assets and have access to a trustworthy platform.
Web3 companies and DAOs that have raised fundraising often have trouble paying bills that can only be paid with credit cards such as Visa and Mastercard. Banks and credit companies are generally not very friendly in this regard. A major pain point is that, when bills are paid online, companies use their personal card and subsequently submit a reimbursement, an inconvenient practice. Oftentimes, companies require corporate crypto cards that allow you to make unrestricted purchases. Thus, finding a provider to pay SAAS fees is crucial, as normally, provider will charge a lot of fees for the crypto off-ramp, and have limitations depending on where companies are from and who can open it.
Here are five of the best corporate crypto cards and the pros and cons of the various providers.
OneSafe
When assessing the best options among corporate crypto cards, look no further than OneSafe. We manage both your crypto and fiat, provide a crypto-friendly neobank account for companies worldwide, and are your gateway to accessing the Web3 ecosystem. OneSafe’s corporate cards are ideal for DAOs and startups, helping you clear all hurdles in spending your digital assets. With OneSafe, your crypto is just as usable and valuable as cash, all while eradicating the hassle of relying on middlemen.
OneSafe’s global corporate crypto cards come with no baggage. That means no fees, hidden costs, or spending limits... With OneSafe’s corporate crypto cards and crypto conversion platform, business leaders can bridge the gap between crypto holdings and everyday business expenses. Having a corporate card for all transactions, that you can pay in both fiat and crypto, allows businesses to revolutionize and optimize asset management, embracing the benefits of a Web3 bank*. With Web3 adoption increasing by over 51% in the next three years, don’t let your company fall behind the innovation wave.
*OneSafe is a technology provider and not a bank.
Binance
Considering it’s the world’s largest cryptocurrency exchange, Binance(BNB) is a great option when looking to adopt reputable corporate crypto cards. They offer crypto debit cards with rewards of up to 8% for investors who stake large amounts of their native cryptocurrency in BNB. Binance’s cards also support up to 15 cryptocurrencies, providing a reliable crypto conversion platform for businesses and customers who want to convert funds in a hurry.
Though Binance has its benefits, there are potential drawbacks to consider. The biggest drawback is that the Binance debit card isn’t yet available in the U.S., making it inefficient for American investors, unless they plan to have a global account. Additionally, the high rewards their crypto cards generate are only available to BNB stakeholders, with the 8% cashback only available if you have more than 600 BNB. With no BNB, the cashback rate is just .1%.
That said, Binance’s VISA card eradicates monthly and issuance fees, though it comes with transaction fees of up to 0.9%. The cards come with 3D secure verification for optimal protection and allow for easy top-ups without minimum balance requirements or monthly fees, taking away the restrictions often associated with traditional bank cards. For non-U.S. business leaders and investors, Binance is worth a shot.
Crypto.com
Much like Binance, Crypto.com’s corporate crypto cards require that you stake a decent amount of their native cryptocurrency (CRO) before capitalizing on their benefits. Cashback rewards range from 1% to 5%, with the rate being higher if you accumulate more CRO along the way. The VISA card also supports 19 cryptocurrencies and 20 fiat currencies.
Crypto.com offers various card tiers for users depending on your CRO stake, with a 1% cashback rate with nothing staked to a 5% return for those with $400,000 worth of CRO stored. For the higher tier cards, users can enjoy access to free streaming subscriptions, airport lounge access and monthly access to various travel sites.
There’s no annual fee for the card, and there is no need for a credit check. You can also make free ATM withdrawals, though lower-tier cards come with lower withdrawal limits. You have to stake CRO for at least 180 days before accessing the highest rewards. However, the corporate card allows you and your customers to enjoy various benefits without restrictions.
Request Finance
Another reputable source for corporate crypto cards is Request Finance and their business credit card. Request Finance is a reputable entity with over $700 million in safely processed transactions that is set to launch a corporate card option. Additionally, Request Finance offers a wide-ranging crypto conversion platform that features access to over 350 cryptocurrencies and 18 blockchains, affording users countless conversion possibilities..
With Request’s corporate crypto cards, businesses can scale financial operations optimally through their all-encompassing platform. Additionally, business leaders can simplify crypto payroll, streamlining accounting and payments using digital currencies. The biggest drawback, is that currently, you have to get on the waitlist because it’s not yet available.
Rain
With Rain’s corporate crypto cards, Rain allows business leaders to optimize financial management by using cards that model traditional concepts and designs but don’t use centralized models. Rain offers secure spend management without requiring a bank account or exchange and caters its services to startups and established Web3 entities
With Rain, cards are designed to support various Web3 initiatives, including NFT projects, defi protocols, and DAOS. Raincards lets users spend digital assets as traditional cash, providing physical and virtual cards that can be used in real-time. Rain provides seamless ways for Web3 businesses to make payments directly from cryptocurrency treasuries, which eases their burden considering many businesses with treasuries need to spend assets on goods and services.
Rain’s goal with its corporate crypto cards is to create full interoperability between Web3’s self-custody principles and traditional financial use cases. The big downside is that Rain is not available globally and only for a few select countries. This means it’s not ideal for web3 companies operating outside of the regions they support.
Choosing the Best Corporate Crypto Card
OneSafe is your safe space to manage both your crypto and fiat. It’s a crypto-friendly global account for companies worldwide and your gateway to accessing the Web3 ecosystem.
Make getting your corporate crypto card a breeze with OneSafe today!
**OneSafe is a technology provider and not a bank
