Crypto Card Users Face Identity Verification as SolCard Halts Anonymous Visa Transactions
In a move aimed at aligning with traditional financial standards, SolCard, a platform focused on Solana that allows users to spend crypto without KYC requirements, has temporarily restricted or removed its no-KYC Visa debit card offering [2].
As of early July 2025, users could still access the SolCard prepaid Visa card, albeit with some fees applied [1]. However, the recent push towards regulatory compliance indicates the no-KYC option is currently unavailable or limited.
The shift towards requiring KYC by SolCard is expected due to increasing global regulatory focus on identity verification in crypto transactions. This move could help boost user trust and support growth for SolCard, according to She and Ilya Keselman.
While the no-KYC Visa card offering is temporarily restricted or removed, SolCard's new "SolCard Full Access" tier requires identity verification. This requirement is also a stipulation from its banking partner, which issues the new Visa cards that now support Apple Pay and Google Pay.
It's worth noting that other crypto-funded debit cards, like BingCard and Laso Finance, also offer cards that don't require ID verification and have gained popularity among users seeking privacy or avoiding tax authorities. However, these cards often come with higher fees, such as SolCard's 5% top-up fee and 2% fee for foreign purchases.
Regarding the timeline for its return, the available information does not provide a specific date or indication of when the no-KYC Visa debit card functionality will be reinstated. It appears contingent on regulatory developments and SolCard’s compliance strategy rather than a fixed schedule.
Raagulan Pathy, founder of rival crypto card KAST, predicted that "more and more card programs will shut down" due to the challenges of delivering fintech products. Despite this, SolCard remains committed to remaining non-KYC in the long run.
For users who had their virtual Visa cards removed, funds can be withdrawn instantly. SolCard's current focus is on stabilizing its Visa offering due to partnerships and regulatory compliance demands.
In the meantime, SolCard's native token, SOLC, has seen a significant drop, nearly 87%, on June 18 and has been trading sideways since then. As always, monitoring official SolCard communications or news sources focused on crypto regulation would be advisable for any updates on the no-KYC Visa debit card.
In the shift towards regulatory compliance, SolCard's new "SolCard Full Access" tier, which requires identity verification, supports the use of Apple Pay and Google Pay technology. However, the no-KYC Visa debit card, a former offering of SolCard, is temporarily restricted or removed, with a potential return contingent on regulatory developments and SolCard's compliance strategy.
