Phemex introduces virtual Mastercard for direct USDT and USDC spending

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Yaroslav Dmytrenko

05.10.2026

Phemex introduces virtual Mastercard for direct USDT and USDC spending — Phemex unveils virtual Mastercard feature

Phemex has introduced a virtual Mastercard that allows users to spend USDT or USDC directly from their Spot account, supporting integration with Apple Pay and Google Pay for online and in-store payments. The card features automatic crypto-to-fiat conversion at the point of sale, offers USDT cashback on purchases, and has no issuance, annual, or account closure fees.

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Phemex has announced the launch of the Phemex Card, a virtual Mastercard that enables users to spend USDT or USDC directly from their Spot account balances. The card features compatibility with Apple Pay and Google Pay, supports automatic crypto-to-fiat conversion at the point of sale, and is accepted at millions of merchants globally. According to Phemex, users receive USDT cashback on eligible purchases—0.25% for standard accounts and up to 1% for VIP users—without a monthly cap. The card has no issuance, annual, or account closure fees, and cashback is credited to users' Spot accounts on the 10th of the following month, provided the transaction meets specified conditions and merchant category codes.

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How to join the promotion

To participate, create a free Phemex account or log in if you already have one. Complete the required identity (KYC) verification and navigate to the Phemex Card application section to apply for the virtual Mastercard. Once your application is approved, your card will be linked to your Spot USDT/USDC balance—no pre-funding of a separate wallet is needed. For convenient payments, you can add the card to Apple Pay or Google Pay. Eligible purchases using the card will earn USDT cashback, which is credited to your Spot account according to the card’s terms. To get started, users can register via the official sign-up link.

Phemex is a cryptocurrency exchange that supports both spot and contract trading in a wide range of digital assets, including Bitcoin, Ethereum, Tether, and others. The platform features low trading fees, demo accounts, leverage up to x100 on contracts, investment solutions, and an extensive knowledge base with educational materials. For more details, see the broker profile on Traders Union.

For additional context, see our earlier news about Phemex’s enhanced Proof-of-Reserves system and asset transparency in the previous Phemex update on Traders Union.

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