Exa Card

Company Overview

Exa Card is the flagship product of the Exa App, developed by Exa Labs SAS — the team behind Exactly Protocol, a decentralized, non-custodial lending protocol on Optimism. The company was founded in 2021 by Gabriel Gruber, an economist from the University of Buenos Aires who previously co-founded Properati (acquired by OLX Group in 2018) and worked at the Central Bank of Argentina.

Exa Labs is headquartered in Montevideo, Uruguay, with the team primarily based in Argentina. The company has raised $5 million in funding from notable investors including Kaszek, NXTP Ventures, Daedalus, Bodhi Ventures, Newtopia, and Uphold.

The Exa Card launched in March 2025 on iOS and Android app stores after a successful alpha testing phase with over 1,100 users and $1.1 million in processed transactions. As of late 2025, the platform has processed over $8.3 million in total volume across 130,000+ transactions.

The Exa Card is the world's first truly onchain credit card, enabling users to spend crypto at merchants globally while their collateral continues earning yield. The platform bridges DeFi and traditional payments through Exactly Protocol's fixed-rate lending markets.

Products & Services

Exa Card - Visa Signature

The Exa Card is a virtual Visa Signature card that functions as both a credit and debit card. Users can toggle between modes within the app.

Card Modes

Debit Mode (Pay Now)

• Direct spending from deposited balance
• Funds deducted instantly at purchase
• Assets continue earning yield until the moment of payment
• Choose which asset to spend first (USDC, ETH, etc.)

Credit Mode (Installment Plans)

• Use crypto as collateral without selling
• Fixed-rate loans via Exactly Protocol
• Pay in 1-6 installments (every 28 days)
• Interest rate determined at transaction time
• Collateral continues generating variable yield while borrowed

Key Features

• Visa Signature Benefits: Airport lounge access, travel assistance, car rental savings, concierge services
• Self-Custodial: 100% user control over funds via smart contracts
• Passkey Authentication: Biometric login (Face ID, fingerprint) — no seed phrases
• Gas Sponsorship: Users never pay transaction fees
• Instant Issuance: Virtual card created in minutes after KYC
• Mobile Wallet Integration: Apple Pay, Google Pay support
• NFC ATM Withdrawals: Tap smartphone at compatible ATMs worldwide
• Automatic Yield: Deposits earn variable APR via Exactly Protocol (~6-7% on USDC)

Coming Soon

• ACH, SEPA, and wire transfer support
• Bank deposits/withdrawals in local currency
• Debt refinancing and partial payments
• Cashback in USDC (with esEXA)
• Credit scoring
• Physical card

Supported Assets

Asset	Use Case
USDC	Spending, collateral, yield
ETH	Collateral, yield, spending
wstETH	Collateral, yield
WBTC	Collateral, yield, spending
OP	Collateral, yield

Deposits are automatically allocated to Exactly Protocol's variable lending markets, generating yield from borrower interest (not token incentives).

Fees & Pricing

Fee Type	Amount
Card Issuance	Free
Annual Fee	$0
Monthly Fee	$0
FX Fee (non-USD transactions)	1.5%
Loan Origination Fee	Included in interest rate
Gas Fees	$0 (sponsored by Exa)

Credit Mode Interest

• Fixed interest rate determined at transaction time
• Rate depends on Exactly Protocol utilization and liquidity
• Approximately 6-10% APR (variable based on market conditions)
• 28-day installment cycles (up to 6 installments)

Deposit Yield

• Variable APR on deposited assets
• ~6-7% APY on USDC (based on protocol demand)
• Yield continues while assets are used as collateral

Spending Limits

Limit Type	Amount
Spending Limit	Based on collateral value
Credit Limit	Determined by deposited assets
Per Transaction	No fixed limit (collateral-dependent)
Daily	No fixed limit

Spending limit = Amount of USDC equivalent available based on collateral. Exa Labs may set temporary or permanent limits on certain accounts.

Geographic Availability

Available

• 160+ countries globally (some sources cite 180+)
• Including: USA, Europe, Latin America, Africa, Asia
• Tested successfully in South Africa, Zimbabwe, Zambia, Botswana

Restrictions

• Access may be restricted in certain jurisdictions
• Subject to local regulatory requirements
• US users have specific terms via Third National (issuer)

Network & Blockchain

Specification	Details
Primary Network	Optimism (Ethereum L2)
Supported Chains	Ethereum, Polygon, Optimism, Arbitrum
Smart Contracts	Non-custodial, fully onchain
Protocol	Exactly Protocol

Security & Compliance

• Self-Custodial: Users control private keys; funds stored in smart contracts
• Passkey Security: Hardware-level biometric authentication
• No Seed Phrases: Eliminates most common security breach vector
• KYC Required: 3-minute identity verification process (Visa compliance)
• Third-Party Card Issuer: Exa Labs does not issue cards directly
• Smart Contract Audited: Exactly Protocol security audits available
• Zero Liability: Maximum $50 liability for unauthorized use (US)

Target Users

Ideal For

• DeFi users wanting real-world spending utility
• Crypto holders who don't want to sell assets to spend
• Users without traditional bank accounts or credit history
• Digital nomads and international travelers
• Latin American and emerging market users
• Anyone seeking fixed-rate crypto loans
• Users comfortable with self-custodial solutions
• Yield-seekers who want to earn while spending

Not Suitable For

• Users uncomfortable with DeFi protocols
• Those requiring physical card immediately
• Users needing high cashback rewards
• Those in heavily restricted jurisdictions
• Users who prefer custodial solutions

How to Apply

1. Download Exa App (iOS or Android)
2. Create account using passkey (biometric)
3. Complete 3-minute KYC verification
4. Deposit supported assets (USDC, ETH, WBTC, etc.)
5. Virtual Exa Card issued instantly
6. Add to Apple Pay or Google Pay
7. Configure Pay Mode (debit or installments)
8. Start spending anywhere Visa is accepted

Visa Signature Benefits

• Airport lounge access
• 24/7 travel assistance
• Emergency card replacement
• Car rental collision damage waiver
• Travel accident insurance
• Concierge services
• Purchase protection
• Extended warranty

Pros

• World's first truly onchain credit card
• Self-custodial — you control your funds
• No credit check or bank account required
• Available in 160+ countries from day one
• Fixed-rate loans provide predictability
• Earn yield on collateral while borrowing
• Zero gas fees (sponsored by platform)
• Instant virtual card issuance
• Passkey security eliminates seed phrases
• Apple Pay and Google Pay integration
• Visa Signature premium benefits
• Toggle between debit and credit modes
• Up to 6 installments for purchases
• Transparent onchain transactions
• Pay in local currency anywhere (1.5% FX fee)

Cons

• Virtual card only (physical card coming soon)
• 1.5% FX fee on non-USD transactions
• Interest rates depend on protocol utilization
• Requires understanding of DeFi concepts
• Limited to Optimism network assets
• No traditional cashback program (yet)
• Access may be restricted in some regions
• Loan origination fees apply
• Variable yield not guaranteed
• Requires maintaining collateral health

Alternatives

• Holyheld - Non-custodial Mastercard with 20+ networks
• MetaMask Card - Self-custody Mastercard on Linea
• Ready Card - Bitcoin yield and borrowing on Starknet
• Gnosis Pay - Self-custodial Visa on Gnosis Chain