Spendly

Spendly was a no-KYC virtual prepaid card service that allowed cryptocurrency holders to convert digital assets to spendable USD value and use them wherever Mastercard was accepted, including via Apple Pay and Google Pay. The project launched in June 2025 and positioned itself as a privacy-first off-ramp for everyday crypto spending.

What Spendly Did

The core product was a virtual prepaid card issued digitally and linked to a crypto top-up mechanism. Users could load the card with supported cryptocurrencies — Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC), and Tether (USDT) — which were converted to USD at the point of top-up. The card could then be used for online purchases and in-store payments via mobile wallet integrations. No physical card was issued; the offering was virtual-only, with each card carrying a 12-month validity window from the date of issuance.

Key Features

• No KYC required: Spendly's primary differentiator was that users did not need to submit identity documents to get a card, making it appealing to users who prioritised transactional privacy.
• Solana and multi-chain support: SOL was among the supported deposit assets alongside BTC, ETH, LTC, and USDT, giving Solana users a direct path to spending their holdings without first moving to a centralised exchange.
• Instant issuance: Cards were issued digitally with no shipping delays.
• Mobile wallet support: Apple Pay and Google Pay were supported, enabling tap-to-pay through mobile devices.
• Custodial model: The service used a custodial structure; users transferred crypto to Spendly's systems, which handled conversion and card funding. The underlying card infrastructure was provided by Obsidian.

Fee Structure

Spendly charged a one-time $7 issuance fee per card and a 4.5% conversion fee on all crypto top-ups. There were no monthly fees, no foreign exchange fees, and no ATM access. The minimum load per top-up was $10 USD and the maximum was $10,000 USD.

Fit in the Solana Ecosystem

Spendly occupied the crypto payments and off-ramp niche on Solana — a segment that has seen multiple entrants given Solana's low transaction fees and fast finality. Its no-KYC approach made it part of a broader category of privacy-oriented card products competing alongside offerings such as SolCard and SolvoCard. The project did not appear to deploy any on-chain programs of its own; crypto deposits were handled through a centralised conversion layer rather than a smart contract-based mechanism.

Status: Discontinued

Spendly is no longer operational. As of August 2026, both the primary domain (usespendly.com) and the card issuance subdomain (getacard.usespendly.com) return NXDOMAIN — the domain is not resolving. The project's X account (@SpendlyCC) shows no recent activity. Third-party card tracking services have confirmed the product is shut down, noting the absence of any communication from the issuer. No shutdown announcement or user migration guidance appears to have been published publicly.

The project appears to have had a short operational lifespan of approximately one year from its June 2025 launch before going dark. No team information, audit records, or post-mortem have been identified in public sources.