“Utility” has almost become a cliché in crypto, especially when it comes to payment cards. Phemex is one of the many exchanges launching a Mastercard, but it’s trying to address a real-world usage problem instead of just promising Cashback tiers and airport lounge perks like most products.

With most prepaid crypto cards, you still need to move funds into a separate card balance before heading out. Having money on an exchange does not necessarily mean your card has enough to cover the bill.

Phemex card removes that inconvenience. It draws directly from available USDT or USDC in your spot account, converting the amount needed when you pay. You still need enough stablecoins to…