Gnosis Pay offers a unique self-custodial Visa® Debit Card allowing users to spend cryptocurrency directly from their blockchain address with no transaction or foreign exchange fees.

The card connects to a Safe Smart Account, ensuring high security with assets stored in a user-owned wallet. Users can customize their card with an ENS name and enjoy perks through OG NFTs. Upcoming features include IBAN integration, compatibility with Apple Pay and Google Pay, and expansion into new countries.

Regulation

Monavate Limited, the issuer of the Gnosis Pay Debit Card under a license from VISA Europe Limited, is authorized and regulated by the Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI) under the Electronic Money Regulations 2011 (FRN: 901097). However, Monavate does not hold a license for providing crypto services, nor is Gnosis Pay registered with the FCA for such services. While Monavate has a partnership with Baanx, Baanx has clarified that this partnership does not permit Gnosis Pay to utilize Baanx’s crypto license for operations in the UK.

Customer Reviews

Trustpilot: 3,3 Stars with 11 Reviews

People

Marcos Nunes is the CEO of Gnosis Pay. He focuses on providing decentralized financial services to improve efficiency and access, particularly for the unbanked​​.

Friederike Ernst is a co-founder of Gnosis and Gnosis Pay. She leads the integration of traditional and crypto payment systems, enabling users to spend cryptocurrency at millions of merchants worldwide​

Conclusion and Rating

From a compliance perspective, we rate Monavate as “Green” since they hold proper authorization from the Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI) and meet regulatory requirements. However, from a customer perspective, we rate them as “Orange” due to increasingly negative customer reviews, which may indicate potential weaknesses in customer service or user experience.