The RedotPay Visa crypto card lets you spend crypto assets and comes in virtual and physical versions. To compare it with other crypto cards, start with the card comparison page; this guide focuses on RedotPay’s background, fees, and application steps. Fees and risks are summarized below in What to know before applying.
RedotPay company background: founding, funding, and licenses
RedotPay is a Hong Kong-based crypto payments company founded in April 2023. Its co-founder and CEO is Michael Gao. It raised a total of $194 million in 2025 from investors including Lightspeed, Coinbase Ventures, and Goodwater Capital. The company says it has more than 9 million users and serves over 100 countries and regions; it also holds relevant licenses or registrations in Argentina, Canada, the United States, and Hong Kong. According to Paymentscan figures dated October 15, 2026, RedotPay reported cumulative card spending of about $6.8 billion, the highest among the crypto cards it tracks.
Can residents of Taiwan and Hong Kong apply? Virtual and physical cards
Residents of Taiwan and Hong Kong can apply, and physical cards are shipped to Taiwan. The app includes a wallet, virtual and physical cards, physical-card ATM withdrawals, a Credit account, and Earn. The card runs on Visa. Since January 21, 2026, all newly issued cards have been denominated in US dollars. The card can be linked to Apple Pay, Google Pay, and PayPal. Spending in Taiwan dollars or Hong Kong dollars counts as a non-USD purchase, with about 2.2% in combined foreign-currency and crypto-conversion costs. A virtual card can be linked to Google Pay; a physical card can be used for purchases and ATM withdrawals. TWD cash withdrawals also incur the foreign-currency and conversion fees. For another card used in Taiwan, see the ether.fi Cash Card Taiwan merchant guide; for a full comparison, see the RedotPay card review and comparison. If you live elsewhere, check whether RedotPay issues cards to residents of your country.
RedotPay fees and card issuance costs
RedotPay fees fall into three groups: card issuance, transactions, and account fees. The official fee table is shown above; these are the main charges to know first:
| Fee | Amount |
|---|---|
| Virtual card issuance | $10 |
| Physical card issuance | $100 |
| Monthly and annual fees | None |
| Non-USD purchases (for example, in TWD) | 2.2% (1.2% foreign-currency fee plus 1% crypto conversion) |
| ATM withdrawals | 2% (3% on the portion over $10,000 per month); TWD withdrawals also incur a 1.2% foreign-currency fee and 1% crypto-conversion fee |
| Small transactions (under $1) | First 5 per month free; $0.20 each after that |
| Failed transactions | First 3 per month free; $0.50 each after that |
| Certain merchants (Facebook ads, Discord, selected games) | 1.5%, minimum $0.50 per transaction; first 3 per month free |
| Deposits | Free |
For a TWD purchase, the conversion cost is about TWD 22 per TWD 1,000. This is the fee most likely to come up in everyday spending. The card itself has no monthly or annual fee. Without Pro, the main costs are the one-time card issuance fee and currency conversion on each purchase. The limit is $100,000 per transaction and $1 million per day; actual limits depend on account tier and risk controls. See the full RedotPay fee details.
RedotPay rewards: Pro plan
Pro is a paid subscription. Rewards apply only to purchases made with Apple Pay or Google Pay. The plans compare as follows:
| Item | Pro monthly | Pro annual |
|---|---|---|
| Price | $12.90/month | $129/year |
| Purchase rewards | 3%, capped at 18 USDs per month | 3%, capped at 18 USDs per month |
| Reward type and expiry | USDs, expires after 30 days; usable only for later card purchases, not withdrawals, transfers, or buying cards | USDs, expires after 30 days; usable only for later card purchases, not withdrawals, transfers, or buying cards |
| Virtual card issuance fee | Waived once (normally $10) | $10 |
| Physical card issuance fee | $100 | Waived once (normally $100) |
| ATM fee | 2% (3% on the portion over $10,000 per month) | First $1,000 per month has the 2% fee waived; standard Pro monthly rate applies to the rest |
New users’ 5 USDs welcome reward is valid for 30 days from receipt. It can only be used for card purchases after card activation, not to pay the card issuance fee.
What to know before applying
These are three conditions that are easy to miss before getting a card:
- Pro fees are generally non-refundable. Pro rewards and benefits must be used mainly in the country or region where you activated Pro, or they may be suspended.
- The Credit account requires staking BTC, ETH, SOL, S, TRX, BNB, or XRP as collateral for a credit limit. Interest is 0.05% per day, and liquidation occurs when the risk index reaches 0.9. There is no Credit-account risk if you do not use Credit.
- Some existing cards must be upgraded before they can be linked to Apple Pay.
How to apply for RedotPay and enter the referral code
-
Download the RedotPay app and start registration.
-
On the registration screen, tap “Referral Code (Optional)” and enter
s1wds. The code can only be entered during sign-up; it cannot be added after the account is created.
Image source: RedotPay Help Center -
Complete KYC: provide a photo of your original identity document (copies and photos of screens are not accepted; the document must be valid for at least 3 months), a front-camera face scan, your current residential address, and a questionnaire of 4–5 questions that takes about 3 minutes. Applicants must be at least 18, with one account per person.
-
Choose a virtual or physical card. When paying the card fee, enter
PENCHANfor a virtual card orPENCHANPfor a physical card. Standard physical-card shipping is free; DHL express shipping is calculated at checkout based on the destination. -
Deposit cryptocurrency. For the basics of stablecoins, see the stablecoin storage guide.
-
A virtual card can be linked to Google Pay. A physical card is mailed to Taiwan and can be used for purchases and ATM withdrawals.
