We are releasing the largest update to BasedApp to date, and we are calling it BasedApp V2. 

BasedApp V2 is our most significant update since we launched BasedApp in September 2023. Since our initial launch, thousands of people have been using BasedApp cards to pay for anything from coffee to flight tickets. We are upgrading our systems to serve you better.

BasedApp V2 is packed with many new features

• Multi-currency Account: You can now store your funds in USD and SGD on BasedApp. This feature allows you to exchange currencies in advance, helping you avoid foreign exchange markups when spending in those currencies. It also gives you greater control over exchange rates.

  
  

  

  
  
  

• Deposit from Solana: You can now easily 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: Our BasedApp v2 systems are built using Fireblocks, a leading digital asset platform that uses Multi-Party Computation (MPC) for advanced key management, ensuring the safety of your funds. This technology is trusted by top financial institutions worldwide, including Revolut.

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 receive your Gold card, you will need to exchange your BasedGold NFT for it. This means you will no longer hold the NFT but will receive the Gold card instead. 

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)

  • For the new users on BasedApp, you will be required to confirm your identity 

  • We will use a trusted third-party provider, also used by most exchanges, to complete the KYC process.

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

• Order Card

  • Enter your mailing address and name that you would like to be 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 on the app and confirm your mailing address.

Once you have ordered a card, we will be sending you instructions to claim for your Airport Lounge Access over email.

When can I use the card?

The virtual card will be available on December 19, 2024. You can use it online or add it to Google Pay or Apple Pay to start using it immediately. Your physical card will be delivered to your mailing address in January 2025.

BasedApp and Singapore Payment Regulations

We are getting a Major Payment Institution license and are working closely with regulators. While this process will take some time, we have been officially granted an exemption from MPI license requirements in Singapore. This allows us to continue our operations seamlessly with our banking partners and Visa.

Gold cards as a limited-edition collectibles

The Gold cards are a limited collection of cards for our most loyal early supporters of BasedApp. Other than the beautiful 20g mirror-finish stainless steel gold card, as an early supporter, you are automatically part of Gold+ Rewards, which includes the following perks: 

The Gold cards are a limited collection for our most loyal early supporters of BasedApp. In addition to the beautiful 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 rebate for Netflix, Spotify, and Apple Music

• Crypto conference rebate

Gold cardholders will also always enjoy:

• Higher spending limit of up to US$30K per day

• Priority customer support

We will limit the Gold cards to 444 and will not issue any more of these exclusive, limited-edition cards. The Gold card is available to residents of over 100 countries worldwide (excluding the US, China, and other sanctioned nations).

There are only around 200 Gold cards left to be purchased. You can upgrade to Gold today within the app, or you can mint the NFT on Ethereum at mint.basedapp.io.