Amulets

Amulets is a fintech application built on Solana that pairs a self-custodial crypto wallet with a virtual Visa payment card. The core premise is straightforward: users hold stablecoins — primarily USDC and USDT on Solana — and spend them at any of the more than 150 million merchants that accept Visa worldwide, including via Apple Pay and Google Pay, without first converting to fiat through a traditional exchange or bank account.

The project was founded in late 2025 and incorporated as Amulets Labs, LLC in Delaware. Early access launched in March 2026. By that point, the company had accumulated more than 2,000 registered users through its MVP phase, with reported use cases spanning everyday purchases, freelancer payments, family remittances, and cross-border commerce.

How It Works

Amulets operates as a non-custodial wallet, meaning users retain their private keys at all times. To begin spending, users load their Amulets wallet with supported assets — USDC, USDT, SOL, BTC, ETH, or BNB — from existing wallets or exchanges. The app then issues a virtual Visa card linked to the stablecoin balance. When a purchase is made, the equivalent fiat value is drawn from the user's stablecoin holdings at the point of sale.

The platform supports assets across multiple networks: Solana, Ethereum, Bitcoin, Base, BNB Chain, and Polygon. Despite this multi-chain reach, Solana is the foundational chain for the Amulets card product, with USDC and USDT on Solana serving as the primary funding currencies for card transactions.

For cross-border spending, Amulets does not add a currency spread on USD-denominated purchases, which the team positions as a direct alternative to the FX fees embedded in traditional credit cards and neobanks.

Cryptoback Rewards

Amulets runs a cashback program called Cryptoback, which pays up to 5% back in SOL on eligible card purchases. The program is designed to reward actual spending activity rather than signups or referrals alone, though a referral system also exists that grants both the referrer and the referred user credit tied to card usage.

Paying rewards in SOL rather than the stablecoin being spent creates a mechanism for users to accumulate a native Solana asset passively through everyday transactions.

Card Features and Fee Structure

The Amulets card is currently issued as a virtual-only Visa card. All major fees are waived:

• No monthly maintenance fee
• No card issuance fee
• No foreign exchange fee for USD purchases
• No ATM withdrawal fee
• No cap on daily or monthly spending limits

The application requires standard KYC at identity verification level three: email confirmation, phone verification, and a government-issued identity document. Proof of address and selfie verification are not required at this stage.

The iOS application (version 1.46 as of July 2026) is available on the App Store, and an Android version is listed on Google Play.

Team

Amulets Labs was co-founded by Felipe Florencio, who serves as COO, and Samuel Camilo, who serves as CTO. The team describes a background spanning product development, growth, and crypto operations. The company has operated as a bootstrapped fintech since inception — no venture funding has been publicly disclosed.

Florencio framed the project's motivation around the structural friction in international payments: "Every friction point is a checkpoint. Every fee is a toll." Camilo has described the core challenge as an incentives problem: making crypto genuinely useful in everyday life requires rewards and convenience that a native wallet alone cannot provide.

Security and Compliance

Despite being in an early access phase, Amulets has implemented identity verification, transaction monitoring, and internal controls the company describes as aligned with international compliance standards. The alpha rollout deliberately limited participation to around 20 invited users initially to validate payment flows and monitor stability before opening the waitlist more broadly.

The non-custodial wallet architecture means Amulets does not hold user funds. Users control their own keys, and the card product draws on balances the user controls rather than a custodial float.

No third-party security audits of the Amulets smart contracts or card infrastructure have been publicly disclosed as of this writing.

Availability and Restrictions

Amulets is not available to residents of the United States. Outside the US, the product is expanding through a waitlist model. The service launched into early access in March 2026 and continues to onboard users in eligible regions.

Solana Ecosystem Fit

Amulets sits at the intersection of Solana's high-throughput, low-cost infrastructure and real-world payment rails. The choice of Solana as the primary settlement layer reflects the chain's sub-second finality and near-zero transaction costs, both of which are well-suited to a card product where payment speed and economics matter.

The platform also represents a practical application of the "PayFi" narrative that has gained traction within the Solana ecosystem — the idea that programmable, stablecoin-denominated payments can displace traditional payment infrastructure rather than simply sit alongside it. By denominating rewards in SOL, Amulets connects everyday spending behavior to native Solana asset accumulation, giving users a reason to hold and use SOL beyond speculation.

For a Solana-native user base, Amulets provides what most wallets do not: a direct path from an on-chain stablecoin balance to a Visa transaction at a grocery store, restaurant, or international vendor, with no bank account required.