Ethena Payvsether.fi Cash - Luxe Card
A metric-by-metric comparison based on published fees and limits. “Best” means the lowest cost or highest reward in that row — not an editorial endorsement.
| Metric |  Third National Bank 7.1/10 Get card |  Third National Bank 7.7/10 Get card |
|---|---|---|
| Verdict | ||
| Editor scoreComposite of fees, rewards, transparency and user sentiment | 7.1/10 | Best 7.7/10 |
| Costs | ||
| Annual fee | None | None |
| FX fee | 1% | 1% |
| Crypto top-up | 0% | 0% |
| Issuance fee | Free | Free |
| ATM fee | Best 0.7% | 2% |
| Rewards | ||
| Max cashback | Best 4%–5% cashback | 3.5%–3% cashback |
| Payout token | AVAX | ETHFI |
| Staking | Tiered by USDe / sUSDe ecosystem holdings | $10,000 liquid deposit |
| Perks | Apple & Google Pay · USDe Native · No Annual Fee | Apple & Google Pay · 3%–4% Cashback · Claude/ChatGPT MCP |
| Access | ||
| KYCNo KYC scored highest, then light KYC | Full KYC | Full KYC |
| Custody | Self-custody | Self-custody |
| Countries | 22 (48 countries) | Best 25 (85+ countries (Global)) |
| Max daily spend | $15,000 | Best $25,000 |
| Monthly ATM limit | Best $1,000 | $750 |
| Mobile wallets | Apple Google | Apple Google |
| Networks | Ethereum, Arbitrum, Base | Ethereum, Arbitrum, Base |
| Top-up tokens | USDC, USDT | Best USDC, ETH, USDT |
| Issuer | Third National Bank | Third National Bank |
| Network | Visa | Visa |
The quick verdict
Ethena Pay pays the highest headline cashback at 5%, but check the staking requirement: tiered by usde / susde ecosystem holdings.
Ethena Pay is the cheaper travel card at 1% FX, while Ethena Pay wins on annual cost at $0.
Both cards are available in 22 and 25 countries respectively. If your country is not on one of those lists, the choice is already made for you.
- Direct USDe synthetic dollar spending
- 0% Ethena FX markup
- 3% base cashback from Day 1 with no staking required on Core
- Borrow against yield-bearing restaked ETH/USDC vaults
Ethena Pay vs ether.fi Cash - Luxe Card — FAQ
Which is better, Ethena Pay or ether.fi Cash - Luxe Card?+
ether.fi Cash - Luxe Card has the higher editor score. Ethena Pay pays 4%–5% cashback with 1% FX, while ether.fi Cash - Luxe Card pays 3.5%–3% cashback with 1% FX. The right choice depends on whether you value cashback, low FX, self-custody or country availability more.
Which card has lower fees, Ethena Pay or ether.fi Cash - Luxe Card?+
Ethena Pay has a no annual fee annual fee, 0% top-up fee and 1% FX. ether.fi Cash - Luxe Card has a no annual fee annual fee, 0% top-up fee and 1% FX. The winner depends on your spend currency and funding token; run the net return calculator for your own numbers.
Can I use Ethena Pay and ether.fi Cash - Luxe Card together?+
Yes, in most jurisdictions there is no restriction on holding multiple crypto cards. A common setup is using the lowest-FX card for travel and the highest-cashback card for domestic or online spend.