Local spending, USD programme terms
USD appears among the listed currencies for Panama. That does not by itself remove cross-border fees, issuer restrictions or differences in how a merchant classifies a transaction.
IndevBank programme
IndevBank guide for Panama
For residents of Panama, the listed local currencies are PAB, USD. IndevBank programme amounts are quoted in USD; the currency on a merchant receipt may differ.
Only approved USDC and USDT on Ethereum are accepted. The credit limit is 100% of that collateral value, with no haircut. No BTC, ETH or other coins. Liquidation starts at 110% loan-to-value if the peg breaks or debt grows. This is collateral-backed credit, not an insured cash balance.
- Local currencies
- PAB, USD
- Programme currency
- USD
- Local language names
- Spanish
A credit line is not a cash balance
Only approved USDC and USDT on Ethereum are accepted. The credit limit is 100% of that collateral value. It is still a loan, not cash: a depeg, interest or fees can reduce what you can spend and can lead to liquidation.
Rewards after settlement
Eligible purchases earn rewards after settlement, not at authorisation. A cancelled purchase earns nothing. A refund reverses the corresponding reward. Reward eligibility is separate from card acceptance.
Residence and eligibility
Country of residence and applicable programme terms determine eligibility. IndevBank is a NO KYC crypto card, so identity documents are not collected. A country guide is not confirmation that a card or financial service is available in that country.
Clear answers
Do I need KYC?
No. IndevBank is a NO KYC crypto card. Identity documents are not collected.
Is IndevBank a bank?
IndevBank is a technology platform, not a bank. Stablecoin collateral is not protected by a deposit-guarantee scheme.
Does a country page mean I am eligible?
No. Country profiles provide information. Residence checks and applicable programme terms determine eligibility.
Does every purchase earn 1.5% cashback?
No. Only eligible settled purchases qualify, subject to caps, exclusions and refund reversals.
Is a virtual card accepted everywhere?
No card is accepted everywhere. Merchant, network, country and transaction restrictions can apply.
About this information
IndevBank publishes programme information and educational guides. Figures describe planned terms, not personalised financial advice or guaranteed availability. Confirm the applicable terms before using a financial service.