ON5 Card Network — A Decentralized Card Network
Status: in development and testing. The network is not live and no card can be issued on it yet.
Card networks decide two things for the entire world: who may issue a card, and who may accept one.
Both are gated. Issuing requires a licence or sponsorship from an institution that holds one.
Acceptance requires an acquirer willing to take you on. The ON5 Card Network is being built to
remove both gates, so that issuing and acceptance become participation rather than permission.
Timeline
- 2020 to December 2024 — Kaanch Network, a sister company, built blockchain infrastructure and took its chain live on 23 December 2024. It already carries ON5 activation payments and stablecoin deposits, and its technology is intended to be the settlement layer beneath this network.
- Since 2023 — regulatory and scheme groundwork for the ON5 Card Network, still ongoing.
What is being built
- Permissionless issuing — no licensing authority deciding who may create cards.
- Permissionless acceptance — no acquirer deciding who may take payments.
- Rules enforced in code and inspectable by the people subject to them.
- Settlement assurance built into the mechanism rather than guaranteed by an intermediary.
Available today
ON5.com is a live card issuing platform. Businesses fund an account with
USDT or USDC and issue branded Visa or Mastercard virtual cards through a dashboard or an API.
When the ON5 Card Network is ready it is intended to appear there as an additional card product.
Read more about the ON5 Card Network