Gnosis Pay

Gnosis Pay is the world's first self-custodial Visa debit card that connects directly to a Safe Smart Account on the Gnosis Chain blockchain. Launched in February 2024, Gnosis Pay enables users to spend cryptocurrency at over 80 million merchants worldwide while maintaining complete control over their private keys and assets. The platform has processed over $100 million in transactions across 50,000+ accounts, establishing itself as a leading crypto payment solution in Europe.

Unlike traditional crypto cards that require depositing funds into custodial accounts, Gnosis Pay allows users to keep their crypto in their own Safe wallet until the exact moment of spending. The card integrates seamlessly with traditional payment rails including IBAN accounts, SEPA transfers, and Visa acceptance, bridging the gap between blockchain technology and everyday finance.

Company Overview

Gnosis Pay is a product of the Gnosis ecosystem, which was founded in 2015 by Martin Köppelmann and Friederike Ernst in Gibraltar. The broader Gnosis organization has built foundational infrastructure for the Ethereum ecosystem, including Safe (securing over $100 billion in assets), CoW Protocol (decentralized trading), and Gnosis Chain (an Ethereum sidechain with over 200 million transactions).

Gnosis Pay Co Ltd is a UK-registered company (No. 14919639) that operates the card program. The Gnosis Pay Debit Card is issued by Monavate Limited pursuant to license by VISA Europe Limited. Monavate is authorized and regulated by the Financial Conduct Authority as an Electronic Money Institution (FRN: 901097).

Key Statistics:

• $100M+ in volume processed
• 1.6M+ transactions processed
• 50K+ accounts deployed
• 115K+ merchants accepting crypto
• €32M in EU transactions by 2025

In Q3 2024, GnosisDAO launched a $40 million venture fund (Gnosis VC) to support early-stage projects in decentralized infrastructure, real-world assets, and financial rails.

Products & Services

Self-Custodial Visa Card

The Gnosis Pay Card is a Visa debit card linked directly to a Safe smart account on Gnosis Chain. Users maintain complete control of their private keys and crypto assets while spending at any Visa-accepting merchant worldwide.

Card Features:

• Physical Visa debit card (€30 issuance, often waived through promotions)
• Virtual card coming March 2025
• Instant conversion at point of sale
• Apple Pay integration launching April 2025
• Google Pay available for OG NFT holders
• Daily spending limit: Up to €8,000 (customizable)
• Monthly limit: Based on account tier

How It Works:

1. Complete KYC verification
2. Receive a Safe Smart Account on Gnosis Chain
3. Fund with EURe (Euro stablecoin) or GBPe (British Pound stablecoin)
4. Spend anywhere Visa is accepted
5. Assets stay in your self-custody wallet until transaction

IBAN Banking

Gnosis Pay provides users with a personal IBAN through partnership with Monerium, a licensed Electronic Money Institution in Iceland. This enables traditional banking functionality alongside crypto spending.

IBAN Features:

• Estonia-based IBAN issued in your name
• SEPA Instant transfers
• Receive salary payments directly
• Third-party deposits accepted
• Fiat to stablecoin conversion at 1:1 rate
• No fees for IBAN usage

How IBAN Works:

1. Transfer EUR via SEPA to your Monerium IBAN
2. Funds automatically mint as EURe in your Gnosis Pay Safe
3. Spend with your card or use in DeFi
4. Send EUR out by signing from your wallet (EURe burns automatically)

Cashback Rewards Program

Gnosis Pay offers one of the highest cashback programs in the crypto card market, paid in GNO tokens:

GNO Holdings	Cashback Rate
0.1 - 1 GNO	1%
1 - 10 GNO	2%
10 - 100 GNO	3%
100+ GNO	4%
OG NFT Holder	+1% (up to 5% total)

• Cashback paid weekly in GNO tokens
• Distributed directly to your Safe wallet
• Minimum cashback: 0.01 GNO (~€2.55)
• OG NFT is soulbound (non-transferable)

White-Label Infrastructure (B2B)

Gnosis Pay offers white-label card issuing infrastructure for wallets, neobanks, crypto exchanges, and payment processors:

Free Plan:

• Launch in 14 days
• Virtual & physical Gnosis Pay branded cards
• Easy API integration
• Earn from transactions & referrals

Startup Plan (Custom Pricing):

• Up to 3 markets
• Custom-branded cards
• Dedicated support
• 2-year minimum agreement

Enterprise Plan (Custom Pricing):

• 3+ markets
• Dedicated BIN & premium card options
• Custom features & integrations
• 3-year agreement

API Capabilities:

• RESTful APIs for card issuance and management
• Safe Protocol smart account deployment
• Integrated KYC/AML via Sumsub
• Real-time authorization engine
• DeFi-powered FX rates
• T+1 settlement with Visa

Fees & Pricing

Card Fees

Fee Type	Amount
Card Issuance	€30 (often waived)
Transaction Fee	0%
Foreign Exchange	0%
Crypto-to-Fiat Conversion	0% (only gas fees)
ATM Withdrawal	Free up to €200/month, then ~3.5%
Monthly Fee	€0
Annual Fee	€0

Limits

Limit Type	Amount
Daily Spending	Up to €8,000 (customizable)
Monthly Spending	Based on account tier
ATM Free Limit	€200/month

Supported Assets & Networks

Supported Stablecoins:

• EURe (Euro stablecoin by Monerium) - for EUR cards
• GBPe (British Pound stablecoin) - for GBP cards

Blockchain:

• Gnosis Chain (primary)
• Polygon zkEVM (L2 for compliance layer)

Infrastructure:

• Safe Smart Accounts (self-custodial wallets)
• Monerium (IBAN and stablecoin issuance)
• Cow Swap integration for token swaps
• deBridge for cross-chain bridging

Note: Users must convert other cryptocurrencies to EURe or GBPe before spending. Bridging from Ethereum mainnet is required for most users as CEXs don't support direct Gnosis Chain withdrawals.

Geographic Availability

Currently Available (32+ Countries):

• European Economic Area (EEA) countries
• United Kingdom

Planned Expansion:

• Brazil (Pix integration)
• Argentina
• Mexico
• Colombia
• Philippines
• Thailand
• Japan
• Singapore
• Australia
• United States

Prohibited Regions: Sanctioned countries and regions per international laws.

Security & Compliance

Self-Custody Model:

• Users control private keys via Safe Smart Accounts
• Assets remain in user's wallet until transaction
• No centralized custody of crypto

Regulatory Compliance:

• Card issued by FCA-regulated Monavate Limited
• MiCA compliant
• PSD2 ready
• Integrated KYC/AML via Sumsub
• Know Your Transaction (KYT) checks on-chain
• AML/CFT screening via compliance partners

Security Features:

• Ethereum signature authentication
• Real-time fraud detection
• Customizable daily spending limits
• On-chain transaction verification

Target Users

Ideal For:

• European crypto holders wanting to spend without conversion fees
• Self-custody advocates who want to maintain control of private keys
• GNO token holders seeking high cashback rewards
• DeFi users who want to integrate spending with yield strategies
• Users needing IBAN banking with crypto benefits
• Frequent travelers benefiting from 0% FX fees

Not Suitable For:

• Users outside Europe (currently)
• Those needing multi-currency crypto support
• Users without patience for bridging to Gnosis Chain
• Those requiring Apple Pay (coming April 2025)
• Users needing high ATM withdrawal limits

Pros

• True self-custodial model—maintain control of private keys
• 0% transaction, FX, and conversion fees
• Up to 5% cashback in GNO tokens (highest in market)
• Personal IBAN with SEPA Instant transfers
• No monthly or annual fees
• Built on battle-tested Safe infrastructure
• Regulated card issuer (FCA authorized)
• DeFi integration via Zeal Wallet
• Excellent customer service (9.8/10 rating)
• White-label infrastructure available

Cons

• Limited to EURe and GBPe stablecoins only
• Europe-only availability (expansion planned)
• Bridging to Gnosis Chain required (Ethereum gas fees)
• No Apple Pay yet (April 2025)
• Physical card only (virtual card March 2025)
• €8,000 daily spending limit (lower than some competitors)
• GNO token required for higher cashback tiers
• Cannot use for car rentals or automated fuel pumps

Alternatives

• Cypher: Multi-chain support (25+ chains), available in 160+ countries
• RedotPay: Higher limits ($1M daily), broader crypto support
• ether.fi Cash: DeFi staking + credit card combo
• Holyheld: European card with different fee structure
• MetaMask Card: Coming soon, direct MetaMask integration
• Bybit Card: Exchange-backed with broader features