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Crypto Cards 2026: Who Holds the Money Before the Swipe
Crypto card spend passed $1.1 billion a month in August. Underneath the volume, the same question keeps surfacing: once you top up, who actually holds the money? We read the terms of 18 card programs, the August 28 drain of a Rain-run Solana card contract, KAST's three successive custody clauses and a widely shared no-KYC price list. The answer is five different things, and the ones that call themselves non-custodial are not all the same thing either.
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