Crypto card startups are absorbing losses to fund big rewards, betting trading and staking revenue will make users profitable

KAST, a stablecoin platform issuing Visa cards, moved from near break-even into losses as growth spending rose, CEO Raagulan Pathy told CoinDesk. Bleap, offering up to 15% returns on crypto holdings and 20% cashback, can lose money on customers who only spend and collect rewards, said Bleap Latvia CEO Eduards Timofejevs. Bybit EU shifted non-VIP users to uncapped 1% cashback, while Bleap pairs 1% base rewards with higher category rates. Providers bet trading, lending and staking revenue will eventually offset the subsidies.

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