Cryptocurrency platforms launch Visa-linked cards to enable spending digital assets without selling

Jul 23, 2026

Cryptocurrency platforms are expanding beyond trading into daily payments by launching Visa-linked cards. RedotPay introduced an XRP Ledger-powered card allowing its 8 million users to pledge XRP at a 50% loan-to-value ratio to borrow Ripple's RLUSD stablecoin. Meanwhile, BingX launched its Visa debit card in Mexico, and BloFin Wallet introduced a Visa card with zero fees. While these cards offer spending convenience without selling assets, critics warn of liquidation risks during market drawdowns.

Cryptocurrency Visa card launches

▪RedotPay launched an XRP Ledger-powered card combining XRP-backed credit, Ripple's RLUSD stablecoin, and Visa's network.
▪RedotPay has more than 8 million users across over 100 countries and roughly $12 billion in annualized volume.
▪BloFin Wallet launched the BloFin Wallet Card, a Visa card allowing users to spend digital assets with zero issuance or annual fees.
▪BingX announced the launch of the BingX Visa Debit Card in Mexico, emitted by Wirex and backed by Visa.

XRP-collateralized credit mechanics

▪The RedotPay card allows users to spend credit at any Visa merchant while keeping their underlying XRP price exposure intact.
▪RedotPay card users pledge XRP as collateral at a 50% loan-to-value ratio to receive a credit line settled in RLUSD.

Undisclosed liquidation terms

▪RedotPay's launch materials do not disclose borrowing costs, liquidation thresholds, or what happens to pledged collateral during a market drawdown.
▪The custody arrangements and whether pledged XRP collateral is rehypothecated or held bankruptcy-remote remain unpublished by RedotPay.

RLUSD distribution via XRPL

▪The RedotPay card is the first mass-market consumer product that routes RLUSD stablecoin settlement directly through the XRP Ledger.
▪RLUSD circulation has historically concentrated on the Ethereum blockchain rather than its home ledger, the XRP Ledger.

Crypto-backed lending precedents

▪Historical crypto-backed lending platforms like Celsius and BlockFi failed due to treasury-layer issues, rehypothecation of collateral, and duration mismatches.
▪Traditional securities-backed lending represents roughly a $150 billion book at major United States wirehouses.