XPlace

XPlace is a non-custodial crypto credit card platform built on Solana, launched in November 2025. Its positioning — "Spend your crypto. Don't sell it." — captures the core value proposition: letting users access the purchasing power of their crypto holdings without triggering a sale, a taxable event, or a forced exit from yield-generating positions.

How It Works

When a user signs up, they deposit supported crypto assets as collateral into per-user smart contracts on Solana. Those assets are routed into Kamino Finance, where they earn variable yield while simultaneously serving as a borrowing base. The user receives a Visa card — virtual within minutes of KYC completion, physical within 7–14 business days — and can spend globally in two modes:

• Credit Mode: At the moment of a card tap, XPlace borrows USDC against the user's on-chain collateral in real time. The underlying assets stay invested and continue earning yield throughout.
• Cash Mode: Users load and spend stablecoin balances directly, with no hidden spreads.

Both modes are compatible with Apple Pay and Google Pay. The card is accepted wherever Visa operates, covering 160-plus countries.

Supported Assets and LTV Ratios

XPlace accepts five collateral assets, each with a defined loan-to-value ratio:

• USDT — 80% LTV
• cbBTC (Coinbase-wrapped Bitcoin) — 70% LTV
• wETH (wrapped Ether) — 70% LTV
• SOL — 65% LTV
• jitoSOL (Jito liquid staked SOL) — 50% LTV

USDC is available for direct Cash Mode spending. The inclusion of jitoSOL is notable — it allows SOL stakers to maintain staking rewards while also unlocking credit capacity against the same position.

Membership Tiers

XPlace offers four membership tiers that govern monthly spending limits, cashback rates, and foreign exchange fees:

Cashback is distributed in real USDC to the user's on-chain wallet at settlement — not internal credits or points. Platinum members additionally receive concierge service, unlimited airport lounge access, and invitations to private events.

Category spending boosts of 5–10% apply to selected merchant categories including rideshare, AI subscriptions, and airlines across higher tiers.

Yield

Deposited collateral earns variable yield through Kamino Finance, a Solana lending protocol reporting over $2.8 billion in total value locked with more than 18 completed security audits. Indicative rates cited by XPlace include approximately 6.15% APY on SOL and 5.43% on cbBTC, though yields fluctuate with protocol utilization. No lock-up periods apply; users can withdraw collateral at any time subject to their outstanding borrow balance.

XP Points and Token Plans

XPlace operates a loyalty points system called XP. Points accumulate through card spending, asset deposits, referrals, and platform quests. XPlace has confirmed a token generation event (TGE) targeted for Q4 2026, with 40% of total token supply allocated to community participants based on accumulated XP. Monthly snapshots have already begun.

Additional Features

• Global banking layer: IBAN accounts denominated in USD, EUR, and BRL across supported regions
• MoonPay integration: Fiat on-ramp directly within the app
• Card controls: Freeze and block capabilities via the mobile application
• Referral rewards: Up to $250 per successful referral depending on tier
• 24/7 human support: Applies to all tiers; no chatbot-only tier

Security and Custody

XPlace's architecture is explicitly non-custodial. User funds sit in individual per-user smart contracts on Solana rather than pooled, admin-controlled contracts. XPlace does not hold or control user assets at any point. Smart contracts have been audited by FYEO. The underlying lending infrastructure through Kamino Finance carries its own extensive independent audit history.

This design distinction proved material on August 28, 2026, when a security incident affected several neobank-adjacent platforms. XPlace founder (@apnmrev on X) posted publicly that XPlace was safe and unaffected, directly crediting the per-user smart contract architecture: "funds sit in per user smart contracts, not in shared admin controlled contracts." The platform suffered no user losses or service interruption during that event.

As with any collateralized lending product, users are exposed to liquidation risk if collateral values decline sharply relative to the outstanding borrow balance.

Operator and Compliance

XPlace is operated by Pontech Group L.L.C-FZ, registered in Dubai, UAE, and subject to UAE law and DIAC arbitration. The Visa card is issued by Rain (Signify Holdings, Inc.), a regulated card program manager. KYC verification is required prior to card issuance.

Solana Ecosystem Fit

XPlace occupies a meaningful position in Solana's expanding real-world utility stack. Rather than building a proprietary lending protocol, it layers on top of established Solana infrastructure — Kamino Finance for yield and borrowing, Jito for liquid staking, Coinbase's cbBTC for bridged Bitcoin exposure — and adds a licensed, compliant payment interface on top. This composability allows XPlace to inherit the security properties and liquidity depth of proven protocols while focusing product development on the spending and user experience layer.

The platform is an early example of Solana DeFi primitives being plumbed into everyday consumer payments: SOL stakers can hold jitoSOL, earn staking rewards, and use that same position as a credit line for groceries, travel, or subscriptions — without unwinding a single position.