Cashi

Cashi is a stablecoin spending app that lets users deposit USDC or USDT and spend them through a virtual Visa card. The card works anywhere Visa is accepted, including online stores and in-store via Google Pay, with Apple Pay and physical cards planned. Balances remain in stablecoins until the moment of payment, so users avoid forced conversions and can hold a dollar-pegged asset while spending globally.

Its core value proposition is a 3-2-1 cashback structure: 3% on eligible subscriptions like Amazon Prime and Uber One, 2% on online shopping, and 1% on travel purchases. Cashback is paid as spending credit in dollars, with no points or expiry. The app also supports instant, free transfers between Cashi users, and deposits or withdrawals via bank accounts in 20+ currencies, plus USDC/USDT transfers across 7 blockchain networks.

The market pain point Cashi addresses is the friction of spending stablecoins: traditionally, converting crypto to fiat requires exchanges, transfers, and fees at every step. For people paid in one currency and living in another, or facing local currency devaluation, Cashi offers a stable balance that can be spent directly like a normal card. Security features include transaction screening, real-time monitoring, card freezing, and adjustable limits.

In the past six months (March to September 2026), Cashi launched its public beta in August 2026, after over 1,100 people joined the waitlist. The programme went live in Hong Kong with virtual Visa cards and Google Pay support, powered by issuer processor Thredd. Expansion to Mexico is planned for late 2026, adding physical cards and Apple Pay. No significant negative developments were reported in this period.