MPCVault Card
by Third National
The MPCVault Card is a corporate-focused 'secured credit' card issued by Third National (via Rain). Unlike prepaid cards, it relies on a credit line secured 1:1 by USDC collateral held in the user's non-custodial MPCVault wallet. Users must 'top up' (post collateral) to establish a spending limit. Settlement is effectively daily/immediate: if the collateral value drops or payments aren't made within 1 day, a liquidation event occurs. It is currently Virtual-only and strictly blocks US users.
Unique Features
- Collateral remains in user's on-chain wallet (Smart Contract Pledge)
- Dynamic spending limit based on real-time collateral value
- Integration with MPCVault's corporate treasury workflow
Pros
- Non-custodial: Collateral stays in your MPC wallet until liquidation
- Corporate Controls: Custom limits, multiple cards, team management
- Multi-chain: Supports USDC on Ethereum, Polygon, and Solana
- High Acceptance: Works everywhere Visa is accepted (online/offline via mobile wallet)
- Security: MPC multi-sig protection
Cons
- Fees: High top-up fees ($3 + 0.5%) and FX fees (Up to 3% + 3% cross-border)
- Virtual Only: No physical card option available currently
- Restricted: Not available to US citizens/entities
- USDC Only: No support for other assets like USDT or ETH for collateral
- Liquidation Risk: Strict 1-day repayment or immediate liquidation rules
Integrations & Tech
Available In (1)
Not Available In (11)
Fee Structure
Detailed Fee Structure
Detailed Limits
Dynamic based on USDC collateral value (1:1 ratio)
Fee Details
Virtual Card Issuance: $1 USD. KYB Fee: $10 USD. Deposit/Top-up: $3 USDC + 0.5%. FX Fee: Up to 3%. Cross-border Fee: Up to 3%. Dispute Fee: $35. Liquidation Penalty: Up to $35. Late Payment: Up to $40. Returned Payment: Up to $29.
Limits & Conditions
Spending limit is dynamic, set by the 'Market Value' of the USDC collateral posted in the linked wallet (1:1 ratio). No fixed daily/monthly limits documented, but Issuer may impose them at discretion. ATM withdrawals not supported (Virtual only).
Crypto Capabilities
Security & Custody
Supported Assets
