Switch Reward Card
Switch Reward Card is a Utah-based, privately held fintech that operates a Layer-2 Ethereum blockchain and an integrated ecosystem — node network, custodial and non-custodial wallets, crypto trading platform, and a beta prepaid Visa/Mastercard card — serving individual crypto users, node operators, and B2B merchants via SwitchPay.
- Company typePrivate
- Founded2021
- HeadquartersOgden, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Switch Reward Card does
Switch Reward Card, operating as Switch Reward Card DAO, LLC, is a blockchain-based financial services company founded in 2021 and headquartered in Ogden, Utah, that is building an integrated ecosystem to bridge traditional finance and decentralized finance. The company's core technology stack is the Switch Blockchain — a Layer 2 network built on Ethereum whose consensus is operated by a decentralized node network composed of Lite Nodes (priced at a fixed $25 license) and Smart Nodes (premium licenses whose price escalates with cumulative node count). On top of this blockchain, Switch layers a Global Trade Platform for buying and selling cryptocurrencies with fiat on-ramps (card, ACH, wire) and off-ramps (wire, ACH), a dual wallet architecture offering both custodial and non-custodial wallets on one platform, a Switch Bridge to Ethereum Layer 1 for ERC-20 token interoperability, and a closed beta Switch International Prepaid Visa Card (Switch Black Card) operating on both Visa and Mastercard networks with Apple Pay and Google Pay integration.
Switch's revenue model is multi-stream and pre-mature: node license sales at disclosed price points (one-time licenses), transaction fees on the trading platform, and B2B merchant service fees via SwitchPay (UseSwitchPay.com), with a SWITCH rewards token designed to have utility in a future Switch Marketplace. Customer acquisition runs on three motions simultaneously — a community/PLG funnel (node sales, Discord, YouTube community calls, newsletter, social) for retail crypto-curious users, a freemium self-serve onboarding motion for individual wallets and trading, and a sales-assisted motion through [email protected] targeting B2B merchants seeking crypto payment acceptance. Customer segments span individual retail consumers (the primary user, served via free accounts), node operators purchasing Lite or Smart Node licenses, active crypto traders using the global trade wallet, and B2B merchants using SwitchPay.
Operationally, banking rails are provided by Cross River Bank and digital-asset custody by Ibanera LLC and Vault IST DMCC; Switch itself is registered as a FinCEN Money Services Business and participates in FinCEN's 314(b) information-sharing program. The leadership team is led by co-founder/CEO Kathy Roberts (former President and COO of Discover Bank, 2000–2006) and co-founder/COO/President Bradley Willden (former SVP of Commercial Lending at Zions Bank). The company is privately held with no disclosed institutional investors, no public revenue, no disclosed funding rounds, and key revenue-generating products (Black Card, SwitchPay, full trading platform) still in beta or early deployment.
Switch Reward Card firmographics
Firmographics- Name
- Switch Reward Card
- Legal name
- Switch Reward Card DAO, LLC
- Website
- https://switchrewardcard.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Switch Reward Card is a Utah-based, privately held fintech that operates a Layer-2 Ethereum blockchain and an integrated ecosystem — node network, custodial and non-custodial wallets, crypto trading platform, and a beta prepaid Visa/Mastercard card — serving individual crypto users, node operators, and B2B merchants via SwitchPay.
- Ownership category
- akta.pro rank
Switch Reward Card industry classification
Industry- Product category
- Cryptocurrency Financial Services
- NAICS
- Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)
- akta.pro primary industry
- Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid) (FSADAIAC)
- akta.pro secondary industries
- Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Crypto Payment Gateways & Checkout APIs (FSADAIAA), Crypto-Enabled Cross-Border Transfers & On/Off-Ramps (FSAGAKAO), Invoice, Billing & Subscription Payments (Crypto) (FSADAIAG), Payments, Remittances & Merchant Acceptance (checkout, invoicing, payroll) (FSAPAEAE)
Keywords
Where Switch Reward Card is headquartered
LocationHeadquarters
- HQ city
- Ogden
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Switch Reward Card business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Node License Sales: Switch generates revenue from the sale of Switch Node software licenses. Lite Nodes are priced at $25 per license. Smart Node pricing increases based on a graduated scale tied to the total number of Smart Nodes sold (escalators kick in at 20k, 25k, 35k, 55k, and 95k nodes sold). Node operators earn SWITCH digital rewards for supporting the blockchain network.
- Crypto Trading Platform Fees: The global trade platform enables users to buy and sell cryptocurrencies. The platform supports on-ramps (card purchase, ACH, wire) and off-ramps (wire, ACH). Revenue is derived from transaction fees associated with trading activities on the platform.
- SwitchPay B2B Services: Business account services including crypto payment acceptance (online, offline, invoicing), on/off ramp solutions, NFT marketplace/portal, and crypto accounting services. UseSwitchPay.com serves as the B2B-facing platform targeting businesses that want to accept cryptocurrency payments.
- Switch Rewards Utility: SWITCH digital rewards are earned through platform actions (hosting nodes, card usage, referrals) and are designed to have utility within the Switch ecosystem — including future use in the Switch Marketplace and for purchasing Switch products and services. The rewards are explicitly not investment products.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Lite Node - entry-level blockchain node license |
| One time/ perpetual license | Pay-as-you-go | Smart Node - premium blockchain node license |
| Freemium | Pay-as-you-go | Individual Account - Free Defi Wallet |
| Other | Pay-as-you-go | SwitchPay Business Account |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels9 records
Switch Reward Card product offering
Product offeringCore offering
Switch Reward Card operates a blockchain-based financial services ecosystem built on a proprietary Layer 2 blockchain on Ethereum. It sells individual crypto debit cards (Black Card), a global crypto trading platform, custodial and non-custodial digital wallets, and licensed node software (Lite Nodes at $25 and Smart Nodes), while also offering B2B merchant crypto payment services through Switch Pay and UseSwitchPay.com.
Product overview
Switch Reward Card is a blockchain-based financial services ecosystem that bridges Traditional Finance (TradFi) and Decentralized Finance (DeFi). The platform operates as a unified system comprising the Switch Blockchain (a Layer 2 blockchain built on Ethereum) as its core infrastructure, with multiple integrated products and services. The core offerings include the Switch Debit Card/Black Card for spending both fiat and digital assets, the Global Trade Platform for cryptocurrency trading, and both Custodial and Non-Custodial Wallets for digital asset management. The ecosystem is powered by Switch Nodes (Smart Node and Lite Node) which secure the network and reward operators with SWITCH tokens. Additional services include Switch Rewards (digital rewards earned through platform activities), Switch Pay (merchant services for business crypto payments), Switch Business Accounts, Switch Individual Accounts, Switch Marketplace, and an NFT Marketplace. The platform supports trading in 40+ fiat and digital currencies, integrates with Apple Pay and Google Pay, and is regulated as a FinCEN-registered Money Services Business.
Differentiator
Problem solved
Functional benefit
Brands
- SwitchPay: B2B crypto payment services including on/off ramp solutions, accepting crypto payments, crypto accounting, and NFT marketplace services for businesses.
- Switch Nodes
- Switch Black Card
Products and services
- Switch Black Card (International Prepaid Visa/Mastercard Debit Card) International prepaid Visa/Mastercard debit card enabling users to spend both fiat and digital assets globally with real-time spending notifications and integration into the Switch digital rewards ecosystem; for individual consumers.
- Global Trade Platform Cryptocurrency trading platform enabling users to buy, sell, swap, send, and receive digital assets with on-ramps (card purchase, ACH, wire) and off-ramps (wire, ACH) across 40 fiat and digital currencies.
- Custodial Wallet Wallet where Switch holds custody of digital assets, enabling streamlined on/off ramps, traditional login, password reset, and ability to buy, sell, and send assets.
- Non-Custodial Wallet Decentralized wallet where users hold their own private keys for complete ownership and management of digital assets, interoperable with the custodial wallet on the same platform.
- Switch Node (Lite Node and Smart Node) Software license installed on MacOS, Windows, Linux, or VPS that connects to the Switch blockchain network to confirm transactions; operators are rewarded with SWITCH tokens. Lite Node priced at $25; Smart Node pricing escalates with network growth.
- Switch Rewards Digital System Digital rewards system where users earn SWITCH tokens (Action Points) through platform activities such as hosting Switch Nodes, using the Switch Black Card, trading cryptocurrencies, and referring new users. Rewards are governed by the Switch Distributed Governance Framework (DGF).
- Switch Pay (B2B Merchant Services) B2B merchant services enabling businesses to accept cryptocurrency payments (online, offline, invoicing), with on-ramp/off-ramp services for crypto funds, crypto accounting, payroll, and NFT marketplace capabilities.
- Switch Blockchain Layer 2 blockchain built on Ethereum, powered by a global decentralized network of Switch Node operators; native currency is SWITCH (also bridgeable to Ethereum as SWITCH ERC-20). Governed by the Switch Distributed Governance Framework (DGF).
Quantifiable outcome
- Access to 40+ fiat and digital currencies globally
- +1 more outcomes
Companies that use Switch Reward Card
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
Switch Reward Card technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature6 records
Switch Reward Card partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Ibanera LLCcoreDigital Assets and Custody services are provided by Ibanera LLC. Ibanera is a licensed digital asset services provider that powers the custody and digital asset operations for the Switch platform.
- Vault IST DMCCcoreDigital Assets and Custody services are also provided by Vault IST DMCC, a digital asset services provider operating alongside Ibanera LLC to support Switch's digital asset infrastructure.
- MastercardcoreThe Switch Black Card operates on the Mastercard network, enabling global acceptance wherever Mastercard is accepted. The card is also Visa-accepted, providing dual-network functionality.
- VisacoreThe Switch Black Card operates on the Visa network, enabling global acceptance wherever Visa is accepted. Combined with Mastercard, the card has broad global merchant acceptance.
- GalvanminorCEO Kathy Roberts serves on the Board of Directors of Galvan, a blockchain healthcare company. This represents a cross-company leadership connection and potential strategic alignment in the blockchain ecosystem.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Switch Reward Card competitors and assessment
Company assessmentDirect peers
- Crypto.com: Crypto.com offers a Visa card, custodial wallet, crypto trading platform, and its own Cronos blockchain—directly comparable to Switch's combination of debit card, dual-wallet architecture, Layer 2 chain, and trading platform. Both target mainstream consumers bridging TradFi and crypto.
- Wirex: Wirex issues a dual-network (Visa/Mastercard) crypto debit card, supports multiple fiat and digital currencies, and offers an in-app trading and rewards wallet—directly mirroring Switch's Black Card and global trade platform proposition.
- BitPay: BitPay is a long-standing crypto payments processor offering merchant acceptance, a prepaid Visa card, and a wallet—closely aligned with SwitchPay's B2B payment acceptance and Switch's prepaid debit card offering.
- Nexo: Nexo provides a crypto-backed Mastercard, custodial wallet, exchange services, and a native token with utility—directly comparable to Switch's Black Card, dual wallets, and SWITCH rewards token model.
Broad incumbents
- Coinbase: Coinbase is a major US-regulated crypto exchange offering custodial wallets, trading, a Visa debit card (Coinbase Card), and on/off-ramps. It competes with Switch across the trading, wallet, and card pillars but at vastly greater scale and regulatory standing.
- Binance: Binance is the largest global crypto exchange offering trading, custodial wallets, a Binance Card Visa product, and its own BNB Chain—overlapping with Switch's trading, wallet, card, and Layer 2 blockchain offerings at a far larger scale.
- PayPal: PayPal offers crypto buy/sell, a Venmo debit-style card, and merchant payment acceptance. While a much larger incumbent, its crypto and merchant services compete with Switch's trading and SwitchPay merchant offerings for similar consumer and SMB segments.
Emerging players
- Strike: Strike offers a Bitcoin-native payments app with a debit card, Lightning Network rails, and merchant services—comparable to Switch's TradFi-DeFi bridge positioning and SwitchPay merchant offering.
- Circle: Circle issues USDC stablecoin, provides payments and treasury APIs, and supports merchant and developer use cases—adjacent to Switch's payment and stablecoin-style settlement ambitions on its Layer 2 blockchain.
Others
- Marqeta: Marqeta is a card-issuing and processing infrastructure provider powering many fintech and crypto card programs. While not a direct consumer competitor, it represents the underlying technology layer Switch would integrate with for its prepaid card program.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Switch Reward Card social profiles
Digital presenceSwitch Reward Card compliance and trust
Trust signalCompliance2 records
Switch Reward Card financial estimates
Financial estimateRevenue estimate
Valuation estimate
Switch Reward Card leadership team
Management profileNumber of profiles
Profiles3 records
Switch Reward Card funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Switch Reward Card M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Switch Reward Card
What does Switch Reward Card do?
Switch Reward Card operates a blockchain-based financial services ecosystem built on a proprietary Layer 2 blockchain on Ethereum. It sells individual crypto debit cards (Black Card), a global crypto trading platform, custodial and non-custodial digital wallets, and licensed node software (Lite Nodes at $25 and Smart Nodes), while also offering B2B merchant crypto payment services through Switch Pay and UseSwitchPay.com.
Is Switch Reward Card a public or private company?
Switch Reward Card is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Switch Reward Card founded?
Switch Reward Card was founded in 2021. It employs 11 to 50 people.
Where is Switch Reward Card based?
Switch Reward Card is headquartered in Ogden, United States, in the North America region.
How does Switch Reward Card make money?
Four revenue lines are on record. Node License Sales are the primary driver. The others are crypto Trading Platform Fees, switchPay B2B Services and switch Rewards Utility.
Who are Switch Reward Card's main competitors?
Direct peers on record are Crypto.com, Wirex, BitPay and Nexo. Broad incumbents are Coinbase, Binance and PayPal. Emerging players are Strike and Circle. Marqeta is listed as an others.
Does Switch Reward Card have an API?
No public API is recorded for Switch Reward Card.
What industry is Switch Reward Card in?
Switch Reward Card's product category is Cryptocurrency Financial Services. Its primary akta.pro industry code is FSADAIAC, Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid), with a secondary code of BPAMAFAL, Crypto Payments & Stablecoin Settlement Platforms. Its NAICS code is 522210 and its SIC code is 6200.