Revolut launches first physical crypto card

Revolut has introduced its first physical cryptocurrency card, enabling customers to use digital assets for face-to-face payments. The London-based fintech previously offered virtual cards for crypto spending; the physical card brings that capability to in-person purchases.

The card draws funds from a user’s cryptocurrency balances and converts a selected digital currency into the local fiat currency at the point of sale so transactions can clear on standard payment networks.

Customers will manage the card through the Revolut mobile app, where they choose which crypto to spend and can view transactions and balances. Conversion and settlement are handled through existing payments infrastructure.

Other payment firms, neobanks and crypto exchanges have rolled out similar cards that let customers spend digital assets without first manually converting coins to fiat. Most of these products use established payment rails, with crypto-to-fiat conversion occurring either at the moment of purchase or from a pre-funded fiat wallet linked to the card.

Providers differ on which cryptocurrencies they support, how conversion rates are set, foreign-exchange handling, fees and dispute or chargeback procedures. Tax treatment for crypto spending varies by jurisdiction; in some places converting crypto to fiat can trigger a taxable event.

Revolut has expanded its product lineup in recent years to include multi-currency accounts, stock trading and cryptocurrency trading and custody. The physical crypto card is an addition to those services within the company’s single app.

Card issuance and merchant acceptance will influence how widely customers can use crypto payment cards and their adoption across retail settings.