FALCON CARD REVIEW: AN EARLY SPEND PRODUCT, NOT YET A FULL NEOBANK

Summary from the TLDR Crypto newsletter

Falcon Finance's virtual Visa debit card, live since July 20 for KYC-verified users in 90-plus jurisdictions, lets holders spend USDf minted against collateral including stablecoins, major crypto, tokenized gold, and tokenized equities like Ondo's COINon and xStocks' TSLAX without selling the underlying position. The card charges a $0 annual fee and no extra Falcon markup beyond Visa FX charges, and counts spend toward Falcon Miles Season 2, but earns 0% on card balance since yield stays in separately staked sUSDf. It's issued by a third-party EMI rather than Falcon directly, remains virtual-only with no published cashback or ATM fee schedule, isn't a bank deposit or deposit-insured, and blocks Russia, Belarus, China, Singapore, and the US.