The Peanut Card is a Visa credit card with no annual fee, available in Global (excl. 17 countries).
Peanut is a trading name of Squirrel Labs Ltd, a company registered in England and Wales (No. 14558823). Its app keeps each user's USDC in a passkey-controlled smart wallet on Arbitrum that Peanut does not hold, and its Visa card is issued through Rain, with the published card terms naming Third National as the issuer.
The Peanut Card is a crypto credit card offered by Peanut, available in Global (excl. 17 countries). There is no annual fee to hold this card.
It is a strong fit for privacy-conscious users who want to keep custody of their keys while spending. Note that the card is virtual only. It runs on the Visa network and requires full identity verification.
New to crypto cards? Read our complete buyer's guide to understand fees, rewards, and how to choose. Concerned about privacy? See our KYC vs non-KYC comparison. Compare more options in our best crypto cards in the US guide. See where it ranks among the best crypto credit cards.
| Tier | Rate | Requirement |
|---|---|---|
| Standard | 0% | No cashback; Peanut states the card is not a rewards card |
On $500/mo spend, the estimated monthly cost breakdown for Peanut Card is: gas $0.00, conversion spread $0.00, flat/FX fees $0.00, and amortised card/tier fee $0.00, for a total drag of 0% of spend. After $0.00/mo cashback that nets a gain of about $0.00/mo ($0.00/yr). Peanut Card tops up from a centralized balance, so there is no on-chain gas cost regardless of how often you reload. Figures are conservative estimates and vary with conditions.
Note: Virtual-only Visa card (no plastic, so no ATM use) spent from USDC in a self-custodial passkey smart wallet on Arbitrum. Only the user-set card limit sits in a two-key collateral account controlled by the user and Rain, the card issuer; the rest never leaves the wallet. The card operates as a Visa credit card, so receipts may show 'CREDIT', but there is no interest and no credit check; the US terms are titled 'Peanut Credit Card Account Opening Disclosures' and both card terms name Third National as issuer. NO CASHBACK: Peanut states the card is not a rewards card and card purchases carry no promised reward rate. FEES: free virtual card with no issuance, monthly or annual fee; same-currency purchases carry no added fee, and other currencies convert at the Visa rate plus Visa's 1% International Service Assessment, with no Peanut markup. The card terms differ (US: 0.30% international transaction fee; international: up to 1% FX plus up to 1% cross-border), so the card is recorded as roughly 1% FX, not 0%. Launched in invite-only batches from about May 2026; Peanut states the invite-only period ended in September 2026 and applications are now open subject to approval. Card spending is also blocked while physically in Cuba, Iran, North Korea, Russia, Syria, Ukraine or Venezuela, and FATF grey-list countries are reviewed case by case. KYC: identity verification for all cardholders (18+), with Rain adding a tax ID, SMS and email codes and a short regulatory questionnaire. Apple Pay and Google Pay where available.
Other crypto cards in the same region or category that may suit your spending profile:
The Peanut Card is a crypto credit card offered by Peanut. It is available in Global (excl. 17 countries) and allows users to spend cryptocurrency at merchants worldwide.
The Peanut Card has an annual fee of $0. Additional fees: Conversion fee: 0%; FX fee: About 1% (Visa International Service Assessment passed through; no Peanut markup); ATM: Not available (virtual card only).
Supported assets include USDC; top-up methods include USDC in the Peanut smart wallet; the card limit is held in a two-key collateral account with Rain; crypto deposits are supported on Arbitrum.
Yes. The Peanut Card requires full identity verification (KYC): expect to submit a government-issued ID, and often proof of address, before the card is issued.
The Peanut Card is available in Global (excl. 17 countries).
The Peanut Card is a true credit card, meaning you can make purchases on credit rather than needing to pre-fund the card with cryptocurrency.
Yes, the Peanut Card is a non-custodial (self-custody) card. This means you retain control of your private keys and your crypto is not held by a third party. Funds are only converted at the point of sale, reducing counterparty risk compared to custodial alternatives.
Yes, the Peanut Card supports Apple Pay and Google Pay for contactless payments.
The Peanut Card is issued by Third National.
Want to see your annual earnings? Use the ROI Calculator to estimate net cashback at your spending level, or compare cards side by side.