CL Card by Ledger
Spend worldwide with a free virtual card. Earn 1% cashback in BTC, USDC or USDT, and top up securely from your Ledger wallet.
Updated on
Company Overview
The CL Card (Crypto Life Card) is a crypto debit card provided by Baanx and designed specifically for Ledger users. It allows users to spend their cryptocurrency holdings at over 90 million merchants worldwide while earning cashback rewards. The card integrates seamlessly with the Ledger ecosystem, enabling secure fund transfers between Ledger hardware wallets and the CL Card through the Ledger Live app.
About Ledger:
Ledger is the world leader in digital asset security for consumers and enterprises. Founded in 2014 in Paris, France by Eric Larchevêque, Nicolas Bacca, David Balland, Joel Pobeda, and Thomas France, the company has grown to become a global platform specializing in hardware cryptocurrency wallets and Web3 security solutions.
Key company facts:
- Founded: 2014
- Headquarters: Paris, France (with offices in Vierzon, London, New York, Singapore, Portland)
- Employees: 700+ professionals
- Devices Sold: 6+ million across 200+ countries
- Market Position: Secures approximately 20% of the world's crypto assets
- Total Funding: $575-613M across 7 funding rounds
- Valuation: $1.3-1.5 billion (Series C, 2023)
- Key Investors: 10T Holdings, Samsung, Morgan Creek Capital Management, True Global Ventures, Cathay Innovation, DFG, VaynerFund
- CEO: Pascal Gauthier (since 2017)
About Baanx:
Baanx is a leading crypto payments platform and B2B2C digital asset services provider headquartered in the UK. The company is one of the first to receive approval from the UK Financial Conduct Authority (FCA) and operates with Electronic Money Institution (EMI) licenses in both UK and EU/EEA. Baanx's portfolio includes major crypto card programs including the MetaMask Card, CL Card Compatible with Ledger, 1inch Card, and Exodus Spend Card.
The CL Card launched in the UK and EEA, with US availability rolling out in June 2025.
Products & Services
CL Card Features
The CL Card is a crypto-powered debit card (Visa in US, Mastercard in EU/UK) that enables instant conversion of crypto to fiat at the time of purchase.
Card Specifications:
- Network: Visa (US), Mastercard (EU/UK)
- Card Type: Prepaid Debit Card
- Format: Virtual (free) and Physical (€6 shipping fee)
- Issuers:
- EU: UAB Monavate (Lithuania, legal entity 305628001)
- UK: Monavate Ltd (England, FCA registered 901097)
- US: Cross River Bank (Member FDIC)
- Provider: Baanx
- Integration: Ledger Live app, Ledger hardware wallets
How It Works:
- Create a CL Card account through Ledger Live app
- Fund card with crypto (BTC, ETH, SOL, stablecoins)
- Card converts crypto to fiat at time of purchase
- Shop anywhere Visa/Mastercard is accepted
- Earn cashback on every transaction
Key Benefits:
- No need to pre-convert crypto—auto-converts at purchase time
- Secure top-up directly from Ledger hardware wallet
- 1-2% cashback on all purchases
- ATM withdrawals worldwide
- Apple Pay and Google Pay compatible
- No staking required for rewards
- Direct paycheck deposits to card account (US)
Credit Features: Cryptodraft & Stableloan
Users can also use their crypto as collateral to access instant credit lines:
- Cryptodraft: Use crypto as collateral for spending without selling
- Stableloan: Access credit lines starting from 0% interest rate (varies by region)
This allows users to unlock liquidity while maintaining their crypto holdings.
Supported Assets for Funding
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Stablecoins (USDC, USDT, EURT)
- Additional cryptocurrencies supported in Ledger Live
- Up to 5 connected crypto wallets
Ledger Hardware Wallet Integration
The CL Card works with all Ledger devices:
- Ledger Stax (premium touchscreen)
- Ledger Flex (touchscreen)
- Ledger Nano Gen5
- Ledger Nano X (Bluetooth)
- Ledger Nano S Plus
Users don't need a Ledger device to use the CL Card, but integration provides enhanced security for fund transfers.
Fees & Pricing
Card Fees
| Fee Type | EU/EEA | UK | US |
|---|---|---|---|
| Virtual Card Issuance | Free | Free | Free |
| Physical Card | €6 (shipping) | £6 (shipping) | TBD |
| Monthly Fee | €0 | £0 | $0 |
| Annual Fee | €0 | £0 | $0 |
Transaction Fees
| Fee Type | EU/EEA | UK |
|---|---|---|
| Crypto-to-Fiat Conversion | 1.75-2% | 1.75-2% |
| Domestic ATM Withdrawal | €3 + 1.5% | £2.50 + 1.5% |
| International ATM Withdrawal | €3 + 1.5% + FX fees | £2.50 + 1.5% + FX fees |
| FX Fee | ~1.5% | ~1.5% |
| ATM Balance Inquiry | €0.35 | £0.35 |
Note: Effective crypto-to-fiat cost is approximately 2.25-2.67% when including all fees, which is above the industry average of ~1.7%.
Cashback Rewards
| Reward Currency | Cashback Rate |
|---|---|
| BTC (Bitcoin) | 1% |
| USDC | 1% (US only) |
| USDT | 1% (non-US) |
| BXX (Baanx Token) | 2% |
- No staking required to earn rewards
- Rewards calculated based on monthly transactions
- Paid out at end of each month
- Can be claimed within days of transactions
Spending & Withdrawal Limits
| Limit Type | Amount |
|---|---|
| Daily Spending | €15,000 / £15,000 |
| Daily ATM Withdrawal | €2,000 / £2,000 |
| Maximum Connected Wallets | 5 |
Limits vary based on verification level and may be increased.
New bank reviews, side-by-side comparisons, and practical money tips. No spam, unsubscribe anytime.
Geographic Availability
Currently Available:
- Europe (EEA): Most EU countries (excludes Croatia, Iceland, Ireland, Romania, Liechtenstein)
- United Kingdom
- Switzerland
- United States: Available June 30, 2025 (excludes New York, Vermont)
- Canada
- Latin America: Colombia, Mexico, Brazil
Planned Expansion:
- Additional Latin American countries
- More North American coverage
Security & Compliance
Regulatory Framework:
- UK: FCA approved, Monavate Ltd (FCA registered 901097)
- EU/EEA: EMI licensed, UAB Monavate (Lithuania)
- US: Cross River Bank partnership (Member FDIC)
Security Features:
- Integration with Ledger hardware wallets (industry-leading security)
- Secure Element chip protection when using Ledger devices
- Ledger Live app management
- Apple Pay and Google Pay tokenization
- Self-custody of funds until top-up
Compliance Partners:
- Mastercard (EU/UK)
- Visa (US)
- Circle (USDC)
- Monavate (card issuance)
- Kudelski Security
KYC Requirements:
- Identity verification required
- Multiple verification levels for higher limits
Target Users
Ideal For:
- Ledger hardware wallet owners seeking spending utility
- Crypto holders wanting to spend without selling on exchanges
- Users in supported regions (EEA, UK, US, Canada, LatAm)
- Those seeking hardware wallet-level security for card funding
- Crypto enthusiasts who want cashback rewards
- Users needing credit lines against crypto (Cryptodraft/Stableloan)
- Those who prefer auto-conversion at purchase time
- Digital asset holders wanting ATM cash access
Not Suitable For:
- Users seeking lowest conversion fees (2.25%+ vs competitors at ~0.5%)
- Those needing free ATM withdrawals (no free allowance)
- Users outside supported regions
- Those wanting highest cashback rates (1-2% vs competitors at 4%+)
- Users who prefer pre-loaded cards with fixed fiat balances
- Those uncomfortable with Baanx account management (separate from Ledger support)
Pros
- Seamless integration with Ledger hardware wallets and Ledger Live app
- No need to pre-convert crypto—auto-converts at time of purchase
- Free virtual card issuance
- 1-2% cashback on all purchases (no staking required)
- Available in multiple regions: EEA, UK, US, Canada, Switzerland, LatAm
- Apple Pay and Google Pay support
- ATM withdrawals worldwide for cash access
- Credit lines available through Cryptodraft and Stableloan (0% starting rates)
- Strong brand authority (Ledger + Baanx partnership)
- FCA and EMI regulated in UK/EU
- FDIC member bank partnership in US (Cross River Bank)
- Direct paycheck deposits available (US)
- 90+ million merchant acceptance worldwide
- High daily ATM withdrawal limit (€2,000)
- Good customer service rating (8.8/10)
- No annual or monthly fees
Cons
- Higher crypto-to-fiat conversion fees (~2.25%) vs competitors (~1.7% average)
- No free ATM withdrawals (40% of competitors offer ~€200 free/month)
- Lower cashback rates (1-2%) compared to competitors (4% average)
- Physical card has shipping fee (€6)
- Daily spending capped at €15,000 (competitors average €25,000)
- Complex fee structure can be confusing
- Card management through Baanx app (separate from main Ledger support)
- Not available in all US states (NY, Vermont excluded)
- Not available in some EEA countries (Croatia, Iceland, Ireland, Romania, Liechtenstein)
- Account reviews can freeze funds for up to 60+ days
- International ATM withdrawals expensive (~9.7% of withdrawal amount)
- Cannot use Euro/GBP deposits directly for purchases (must convert to crypto first)
- Requires Ledger device for enhanced security (not included)
Alternatives
- Crypto.com Card: Up to 8% CRO rewards, Spotify/Netflix rebates, airport lounges, global availability
- MetaMask Card: Also powered by Baanx, non-custodial, 1-3% cashback, DeFi integration
- Nexo Card: Dual debit/credit modes, up to 2% cashback, borrow against crypto, no selling required
- Holyheld Card: Non-custodial Mastercard, 20+ chains, lower conversion fees (~0.5%)
- Gnosis Pay Card: DeFi-native, Safe wallet integration, up to 5% rewards
- Bybit Card: Up to 10% advertised cashback, competitive fees
About the author
Founder of Sirket.io & Editor at BankList.co
Can Ozer is the founder of Sirket.io with over 6 years of experience in international taxation. He has helped many entrepreneurs with offshore company formation, business bank account opening, and payment infrastructure applications across multiple jurisdictions. At BankList.co, he reviews and curates banks and financial services to help founders choose the right financial partner.
Similar to CL Card by Ledger
Slash Global USD
