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Cashi Card vs Ethena Pay

Ethena Pay scores higher on the G2M score: 83/100 against 43/100 (#2 and #29 of 31 cards). Ethena Pay also comes out ahead on cashback, more countries and control of your funds.

Cashi Card43

#29 of 31 · 0% to 3% back · annual fee none

Get CashiRead the review
Ethena Pay83

#2 of 31 · 4% to 5% back · annual fee none

Get EthenaRead the review

The short answer

  • Ethena Pay scores higher on the G2M score: 83/100 against 43/100 (#2 and #29 of 31 cards).
  • Ethena Pay pays more cashback on its entry tier: 4% against 0%. Higher tiers go up to 3% on Cashi Card and 5% on Ethena Pay.
  • Neither card has an annual fee.
  • Both charge a 1% FX fee on foreign currency.
  • Ethena Pay lists 48 countries where it works; Cashi Card does not publish a full country list. Of the markets we check for every card, only Ethena Pay is confirmed in UAE.
  • Cashi Card is custodial; Ethena Pay is self-custodial.

Want the answer for your own spending, or the next tier up of each? See what each keeps you a year or pick tiers and add a third card.

Side by side

Detail
Cashi Card
Ethena Pay
G2M score
43
83 (better)
Base cashback
0%
4% (better)
Max cashback
3%
5% (better)
Paid in
Spending credit
AVAX, daily
Annual fee
Free
Free
FX fee
1%
1%
Top-up fee
0%
0%
Per-purchase fee
None listed
None listed
ATM
Not published
$1 + 0.65% per withdrawal
Network
Visa
Visa
Card type
Prepaid
Spend
Custody
Custodial
Self-custodial
Formats
virtual
virtual
Apple / Google Pay
No / Yes
Yes / Yes
India
Unclear
No
UAE
Unclear
Yes
United States
Unclear
No
United Kingdom
Unclear
No
EU / EEA
Unclear
No
Countries
App in 100+ countries; Cashi does not publish a card country list
48
Bank account (IBAN or account number)
In your name
In your name
Send money to a bank account
20 currencies
Not confirmed
Buy and sell crypto with fiat
Buy and sell
Buy and sell
Spend against crypto without selling
Not confirmed
No
Yield on your balance
Not confirmed
Yes
Tiers
Cashi Card
Standard · Pro · VIP
Perks
Personal USD account · Cash in and out in 20+ currencies · 3% on subscriptions, 2% online, 1% travel (capped)
Works on Arbitrum, Ethereum, Optimism and Polygon · 5% a year on your balance, up to $5,000, paid daily in USDe · 6% a year on your balance, up to $100,000, paid daily in USDe · 6% a year on your balance, up to $1,000,000, paid daily in USDe

Highlighted values are the better of the two. “Not published” means the issuer does not state it. Card data last checked 25 Oct 2026; see each card's review for its sources.

Questions

Which is better, Cashi Card or Ethena Pay?

Ethena Pay scores higher on the G2M score: 83/100 against 43/100 (#2 and #29 of 31 cards). Ethena Pay also comes out ahead on cashback, more countries and control of your funds. The better card for you depends on where you live and how you spend; the G2M calculator works it out for your own spending.

Which has lower fees, Cashi Card or Ethena Pay?

Neither card has an annual fee. Both charge a 1% FX fee on foreign currency.

Which pays more cashback, Cashi Card or Ethena Pay?

Ethena Pay pays more cashback on its entry tier: 4% against 0%. Higher tiers go up to 3% on Cashi Card and 5% on Ethena Pay.

Which works in more countries, Cashi Card or Ethena Pay?

Ethena Pay lists 48 countries where it works; Cashi Card does not publish a full country list. Of the markets we check for every card, only Ethena Pay is confirmed in UAE.

Who holds my funds with Cashi Card and Ethena Pay?

Cashi Card is custodial; Ethena Pay is self-custodial.

More comparisons

Scores use the same rules for every card (how the score works). Referral links never change a score or rank. Not financial advice.