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Ethena Pay vs Kolo Card

Ethena Pay scores higher on the G2M score: 83/100 against 46/100 (#1 and #25 of 26 cards). Ethena Pay also comes out ahead on cashback, a lower FX fee and more countries.

Ethena Pay83

#1 of 26 · 4% to 5% back · annual fee none

Get EthenaRead the review
Kolo Card46

#25 of 26 · 1% to 2% back · annual fee none

Get KoloRead the review

The short answer

  • Ethena Pay scores higher on the G2M score: 83/100 against 46/100 (#1 and #25 of 26 cards).
  • Ethena Pay pays more cashback on its entry tier: 4% against 1%. Higher tiers go up to 5% on Ethena Pay and 2% on Kolo Card.
  • Neither card has an annual fee.
  • Ethena Pay charges less on foreign currency: a 1% FX fee against 1.4%.
  • Ethena Pay lists 48 countries where it works; Kolo Card does not publish a full country list (3 confirmed so far). Of the markets we check for every card, only Kolo Card is confirmed in United Kingdom.
  • Both are 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
Ethena Pay
Kolo Card
G2M score
83 (better)
46
Base cashback
4% (better)
1%
Max cashback
5% (better)
2%
Paid in
AVAX, daily
BTC, daily
Annual fee
Free
Free
FX fee
1% (better)
1.4%
Top-up fee
0%
0%
Per-purchase fee
None listed
1%
ATM
$1 + 0.65% per withdrawal
USD card only: $1 + 0.65%, up to $500 a withdrawal and 3 a day, at contactless ATMs. No ATM access on the EUR card.
Network
Visa
Visa
Card type
Spend
Debit
Custody
Self-custodial
Self-custodial
Formats
virtual
virtual
Apple / Google Pay
Yes / Yes
Yes / Yes
India
No
Unclear
UAE
Yes
Yes
United States
No
Unclear
United Kingdom
No
Yes
EU / EEA
No
Unclear
Countries
48
60
Bank account (IBAN or account number)
In your name
No
Send money to a bank account
Not confirmed
1 currency
Buy and sell crypto with fiat
Buy and sell
Sell only
Spend against crypto without selling
No
No
Yield on your balance
Yes
No
Tiers
Standard · Pro · VIP
Kolo Card
Perks
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
Visa Platinum benefits, claimed through Visa · Send crypto to any SEPA bank account · 2% for the first 30 days

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, Ethena Pay or Kolo Card?

Ethena Pay scores higher on the G2M score: 83/100 against 46/100 (#1 and #25 of 26 cards). Ethena Pay also comes out ahead on cashback, a lower FX fee and more countries. 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, Ethena Pay or Kolo Card?

Neither card has an annual fee. Ethena Pay charges less on foreign currency: a 1% FX fee against 1.4%.

Which pays more cashback, Ethena Pay or Kolo Card?

Ethena Pay pays more cashback on its entry tier: 4% against 1%. Higher tiers go up to 5% on Ethena Pay and 2% on Kolo Card.

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

Ethena Pay lists 48 countries where it works; Kolo Card does not publish a full country list (3 confirmed so far). Of the markets we check for every card, only Kolo Card is confirmed in United Kingdom.

Who holds my funds with Ethena Pay and Kolo Card?

Both are 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.