How Non-Custodial Crypto Cards Work

Gnosis Pay pioneered the non-custodial card model—a card where you hold your own private keys instead of entrusting them to a company. When you swipe, the transaction settles directly from your wallet. This means you never give up custody of your crypto, which is the defining feature of cards like Gnosis Pay.

Signal: If owning your keys is non-negotiable, non-custodial cards align with self-custody values. But they trade off some convenience and speed for that control.

Why it matters: Most crypto cards are custodial—you send funds to the card issuer’s wallet, and they hold them. Gnosis Pay reversed this model, letting you spend directly from your own wallet. This is a significant technical and philosophical difference.

The Gnosis Pay Story: What Changed in 2025

When Gnosis Pay launched, it offered a direct affiliate program—referrers could earn commissions on referred users’ spending. This made it an option for crypto-card affiliate sites like DefyCard.

In 2025, Gnosis shifted strategy. The protocol team refocused on enterprise and institutional use cases rather than direct-to-consumer retail. As part of this pivot:

  • Direct affiliate referrals closed (no longer accepting new affiliate partners)
  • The card became available primarily through B2B resellers like Zeal (EU) and Picnic (Brazil)
  • Development shifted toward payment infrastructure for businesses, not consumers

Risk: If you’re shopping for a consumer crypto card to earn ongoing cashback or rewards, Gnosis Pay is no longer a practical choice because affiliate commissions have ended.

Watch: Gnosis Pay may re-open direct consumer channels in the future, but as of May 2026, no timeline has been announced.

Gnosis Pay vs. ether.fi Cash: The Comparison

Both Gnosis Pay and ether.fi Cash are non-custodial Visa cards, but they differ significantly in availability and features:

Gnosis Pay:

  • Custody: Self-custodial
  • Cashback: Historically offered
  • Countries: Limited (enterprise-focused)
  • Affiliate program: Closed
  • Physical card: Yes
  • Virtual card: Yes

ether.fi Cash:

  • Custody: Self-custodial
  • Cashback: Up to 3 % (up to 15 % on dining/groceries)
  • Countries: 76 countries, 29+ for physical shipment
  • Affiliate program: Active (1 % recurring for 12 months)
  • Physical card: Yes ($40 refundable deposit)
  • Virtual card: Yes (free)
  • FX fees: 0 % USD/EUR, 1 % other

Key metric: Only ether.fi Cash has an active affiliate program as of 2026.

Why it matters: If you’re evaluating cards based on affiliate income or referral benefits, ether.fi is the only non-custodial Visa card with a working program right now.

Which Card Should You Choose?

Alternative: If non-custodial Visa cards are your priority and you want a card with cashback and an active referral program, [ether.fi Cash](https://www.ether.fi/@defycard) is the clear option in 2026. Gnosis Pay’s enterprise pivot means it’s no longer available for individual consumers in most regions.

ether.fi Cash delivers the same non-custodial benefit with three key advantages:

  • Live cashback — up to 3 % on purchases, up to 15 % on select dining and groceries (promo rates)
  • Global availability — 76 countries for virtual cards, 29+ countries for physical shipment
  • Affiliate earnings — if you refer friends, you earn 1 % of their spending for up to 12 months per referral

[Sign up for ether.fi Cash here](

Get your DefyCard →

)

What to Watch

  • Gnosis roadmap updates — the Gnosis DAO may announce consumer-facing products or partnerships that would make the card accessible again
  • ether.fi expansion — new countries, new partnerships, or updated cashback rates affect card value
  • Regulatory shifts — changes in MiCA (EU) or similar regulations may open or close options in your region
  • Competitor launches — other non-custodial cards (RedotPay, Cypher) continue evolving; compare periodically
  • FX and fee changes — verify current FX rates and fees before signing up, as they can shift with market conditions

Bottom Line

  • Gnosis Pay is a closed affiliate as of 2026. Its direct referral program ended in 2025, so it’s not available for personal sign-ups in most regions.
  • ether.fi Cash is the active non-custodial Visa card with an open affiliate program and cashback rewards (up to 3 %).
  • If you want self-custody + spending cashback + referral earnings, ether.fi Cash checks all three boxes. Gnosis Pay checked all three in 2023–2024, but only the first one today.
  • If you fit the profile of an early crypto adopter who values non-custodial control and wants to earn cashback while spending, [ether.fi Cash](

Get your DefyCard →

) is the best option available right now—both for your own spending and for referring others.

Frequently Asked Questions

  • Q: Can I still sign up for Gnosis Pay? A: Gnosis Pay is available through enterprise and B2B channels (Zeal in the EU, Picnic in Brazil). Direct consumer sign-ups are no longer available as of May 2026. If you want a non-custodial card as an individual, ether.fi Cash is the leading option.

  • Q: Why did Gnosis close its affiliate program? A: Gnosis pivoted to enterprise and institutional use cases and B2B payment infrastructure. Direct-to-consumer affiliate programs are lower-priority under the new strategy.

  • Q: Is non-custodial better than custodial crypto cards? A: It depends on your priorities. Non-custodial cards offer maximum security and autonomy—you hold your own keys. Custodial cards (like Crypto.com, Coinbase) often offer more features, faster transactions, and easier user experience. Both are valid choices depending on your risk tolerance and convenience preferences.

  • Q: How much cashback does ether.fi Cash offer? A: ether.fi Cash offers up to 3 % cashback on standard spending, with higher promo rates (up to 15 %) on dining and groceries during promotional periods. Exact rates depend on your tier and current promotions.

  • Q: How many countries support ether.fi Cash? A: Virtual cards are available in 76 countries. Physical card shipment is supported in 29+ countries across Europe, the Americas, Asia, and Oceania. Check availability for your specific location before signing up.

  • Q: Can I earn referral commissions with ether.fi Cash? A: Yes. ether.fi’s affiliate program pays up to 1 % of each referral’s spending for up to 12 months. You can refer 50+ users to unlock higher tiers and higher commission rates.

Risk & Disclosure

Affiliate disclosure (repeated): DefyCard publishes affiliate-linked reviews. We may earn a commission when you sign up for ether.fi Cash through our referral links. This doesn’t change your costs—sign-up is free—but it helps support our content.

Cryptocurrency volatility: Crypto assets fluctuate rapidly. The value of rewards, cashback, or balances may change between earning and spending. Cards denominated in crypto (like those holding ETH) expose you to price volatility.

Country restrictions: ether.fi Cash is not available in all countries. Check the official availability list before attempting to sign up. Prohibited jurisdictions include Belarus, Bangladesh, China, Cuba, Estonia, Finland, Hungary, India, Iraq, Israel, Nepal, Netherlands, North Korea, Philippines, Russia, Syria, Turkey, Ukraine, Venezuela, and Vietnam. Some US states (AZ, DE, GA, ID, LA, MD, MS, MO, MT, NV, NM, ND, OH, OR, RI, SD, TN, VT, WA, WI) also have restrictions.

Regulatory risk: Crypto-card regulation is evolving. The EU’s MiCA regulation, US state licensing rules, and other frameworks may change the availability or features of cards in your region. Always verify current terms on the issuer’s official site.