Phemex launches virtual Mastercard debit card with no fees and USDT/USDC spending for EEA users

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Igor Krasulya

30.09.2026

Phemex launches virtual Mastercard debit card with no fees and USDT/USDC spending for EEA users — Phemex launches virtual Mastercard card

Phemex announced the availability of its virtual Mastercard debit card, allowing users in the EEA to make in-store payments using USDT or USDC from their Spot balance, with no issuance, annual, or closure fees and automatic crypto-to-fiat conversion at the point of sale.

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Phemex introduced a virtual Mastercard debit card for users in the European Economic Area (EEA), allowing payments at global merchants directly from USDT or USDC Spot balances. The card applies no issuance, annual, or closure fees, and automatically converts crypto to fiat at the point of sale; it also provides up to 1% unlimited cashback per purchase, supports Apple Pay and Google Pay integration, and sets defined transaction and account limits. Application requires creating an account, completing verification, and linking a Spot balance, with usage subject to crypto-to-fiat spread and possible foreign exchange fees. Merchant refunds are processed in fiat and re-converted to crypto at the prevailing rate, with proportional reversal of any previously credited cashback. The card is issued by a licensed provider in New Zealand under the Mastercard network.

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How to participate

To apply for the Phemex Card, first create or log in to your Phemex account. Complete a quick KYC verification, then access the card section and submit your application for the virtual Mastercard debit card. Once approved, link your Spot account balance (with USDT or USDC) and optionally add your card to Apple Pay or Google Pay for mobile transactions. For more information or to register, visit the official sign-up link.

Phemex is a cryptocurrency exchange offering both spot and contract trading on a wide selection of cryptocurrencies and tokens, with the US dollar as the sole fiat currency. Key features include competitive trading fees, demo accounts, a knowledge base with educational guides, a referral program, investment solutions, and support for bank card transactions. More details about Phemex’s services can be found in the broker profile on Traders Union.

For more background, see our earlier news about Phemex’s launch of a virtual Mastercard debit card for spending USDT or USDC and earning unlimited cashback in the previous Phemex update on Traders Union.

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