ether.fi Cash vs Plasma One
Two non-custodial Visa/Visa-rail cards with identical 0%/1% FX fees and strong cashback — picked apart by reward token, asset support and platform availability.
Quick verdict
These two cards are among the closest matches on the market: both non-custodial, both 0% FX on USD and EUR with 1% on other currencies, both pay strong cashback — ether.fi a flat 3% in wETH, Plasma One a tiered 2–4% in XPL. The real choice comes down to which token you want your cashback in (wETH vs XPL) and which platform you spend from (ether.fi for ETH-based balances, Plasma One for stablecoins).
Side-by-side
| ether.fi Cash | Plasma One | |
|---|---|---|
| FX Fees | 0% on USD & EUR · 1% on other currencies | 0% on USD & EUR · 1% on other currencies |
| Payback | 3% cashback for all cards, paid in wETH | Lite 2% · Core 3% · Platinum 4% — paid in XPL |
| Annual Fee | Free | Lite Free · Core $120/yr or 10,000 XPL lock · Platinum 100,000 XPL lock |
| Physical Card | Metal card + virtual | Virtual + orderable premium physical (by Rain) |
| Custody | Non-custodial | Non-custodial (on-device keys) |
| Supported Currencies | Settles in USD & EUR · funded from ETH & stablecoins | Stablecoins: USDT, USDC, USDS |
| Region | Global (most regions) | Global; iOS-only at launch |
Verdict by dimension
FX Fees
Tie — both 0% on USD/EUR and 1% on other currencies.
Cashback
ether.fi pays a flat 3% in wETH; Plasma One scales 2% (Lite) / 3% (Core) / 4% (Platinum) in XPL. Plasma One's top tier edges ahead on rate, but ether.fi's is free and flat.
Annual Fee
ether.fi wins for simplicity — free across all tiers. Plasma One's Lite is free, but its 3–4% rates sit behind paid Core/Platinum tiers.
Custody
Tie — both are genuinely non-custodial; assets stay in your wallet.
Platform
ether.fi Cash wins — Plasma One is iOS-only at launch.
Funding asset
ether.fi for ETH; Plasma One for stablecoins. Pick the one whose default matches what you already hold.
Choose ether.fi Cash if…
you mostly hold ETH or want cashback paid in wETH (broad, liquid market). Also if you're on Android — ether.fi Cash supports both stores; Plasma One is iOS-only today.
Choose Plasma One if…
your balance is in stablecoins (USDT primary) and you want zero-fee transfers on the Plasma chain on top of the card. The 3.6% APY stablecoin vault is a bonus over ether.fi's 4.6% APY only if your funding asset matches their preferred stablecoin.