Today we are releasing BasedApp V2, the biggest update since we launched BasedApp in September 2023. Since then, thousands of people have used BasedApp cards to pay for everything from coffee to flight tickets, and V2 upgrades the systems behind all of it.

BasedApp V2 is packed with new features

Multi-currency Account: You can now hold funds in USD and SGD on BasedApp. Exchange in advance and you avoid foreign exchange markups when you spend in either currency, and you choose when to convert.

Deposit from Solana: You can now deposit SOL or USDC on the Solana blockchain. Once deposited, you can swap USDC into USD or SGD and spend it anywhere Visa is accepted.

Security: BasedApp V2 is built on Fireblocks, a digital asset platform that uses Multi-Party Computation (MPC) for key management. Financial institutions including Revolut use the same technology.

Next month, we will roll out the BasedApp V2 systems exclusively to Gold cardholders. Regular cardholders will have the option to upgrade to BasedApp V2 in Q1 2025.

Exchange your BasedGold NFT for a Gold Card

To get your Gold card, you exchange your BasedGold NFT for it. You give up the NFT and receive the Gold card in its place.

The exchange process starts on 5 December 2024.

For Users with BasedGold NFT

Exchange BasedGold NFT for Gold Card (5 December)
If you have a BasedGold NFT, you can exchange it for a Gold card through BasedApp on 5 December 2024.

If you already have a Gold badge on your BasedApp profile, you can skip this step.

Identity Check (5 December)
New users on BasedApp will be required to confirm their identity.

KYC is handled by Sumsub, a third-party provider also used by most exchanges.

If you already have a Standard card, you do not need to complete KYC.

Order Card
Enter your mailing address and the name you want printed on your card.

Existing Users on BasedApp

If you upgraded to BasedGold on the app, you should already have a Gold badge on your profile.

You can order a card in the app and confirm your mailing address.

Once you’ve ordered a card, we will send you instructions via email on how to claim your Airport Lounge Access.

When can I use the card?

The virtual card will be available on 19 December 2024. Use it online, or add it to Google Pay or Apple Pay and start paying straight away. Your physical card will be delivered to your mailing address in January 2025.

BasedApp and Singapore Payment Regulations

We are in the process of obtaining a Major Payment Institution license and are working closely with regulators. That process will take time, but we have been granted an exemption from MPI license requirements in Singapore, which lets us keep operating with our banking partners and Visa in the meantime.

Gold Cards as Limited-Edition Collectibles

The Gold cards are a limited collection for our most loyal early supporters of BasedApp. Along with the 20g mirror-finish stainless steel Gold card, early supporters are automatically enrolled in Gold+ Rewards (free for the first year), which includes the following perks:

• Complimentary airport lounge access
• Competitive FX fees
• Accelerated Points Earn
• Subscription rebates for Netflix, Spotify, and Apple Music
• Crypto conference rebate

Gold cardholders will also enjoy:

• A higher spending limit of up to US$30K per day
• Priority customer support

Only 444 Gold cards will be made, and we will not issue more. The Gold card is available to residents of over 100 countries worldwide (excluding the US, China, and other sanctioned nations).