Picnic Card

What the Picnic Card is

Picnic began as a card and has grown into a self-custodial global account. It gives Brazilian users an international Visa card and a multi-currency balance that can be held in on-chain dollars, euros or reais, with the card drawing on those balances when you spend.

Why IOF matters

Brazil levies IOF on foreign-exchange transactions, and traditional cards pass it on when you spend abroad or buy in dollars. Picnic's headline claim is zero IOF and zero Picnic fee on card spending, which is what makes it competitive for Brazilians travelling to the United States or Europe and paying in dollars or euros.

How the balances work

The account holds three currency rails: USDC for dollars with a named account through Lead Bank, EURe for euros through Monerium, and BRLA for reais. You top up with Pix, ACH, SEPA or crypto, and the card is funded only with the amount you choose to move to it — the rest stays in your self-custodial balances.

What sits around the card

The same app handles crypto buying, selling and swapping across networks, savings boxes earning yield, and conversions between balances. The card itself is available in virtual and physical form, has no annual fee, and virtual card creation is free.

Picnic gives Brazilian users a self-custodial global account holding USDC, EURe and BRLA, with an international Visa card attached. Meru offers a comparable multi-account setup across the region, and Decaf keeps everything non-custodial. See the crypto cards listing for their currency support.

Card

• International Visa card accepted in 180+ countries.
• Available as virtual cards, which are free to create, and as a physical card.
• No annual fee, and zero Picnic fee and zero IOF on foreign spending.
• Works with Apple Pay and Google Pay, with no Picnic fee or IOF applied through digital wallets either.

Multi-currency account

• Hold dollars as USDC with a named account through Lead Bank.
• Hold euros as EURe with an IBAN through Monerium.
• Hold reais as BRLA, with deposits and withdrawals by Pix.
• Top up via Pix, ACH, SEPA or crypto.

Self-custody and security

• The account is self-custodial, with biometric security on the app.
• Only the amount you intend to spend is moved to the card.

Crypto and yield

• Buy, sell and swap cryptocurrencies across networks.
• Savings boxes earn yield on balances you set aside.

Stablecoins as the core balances

Picnic's currency rails are stablecoin-based: USDC for dollars, EURe for euros and BRLA for reais, each with a real account behind it — Lead Bank for dollars and Monerium for euros. The card spends from those balances in local currency, which is what removes the IOF step.

Trading assets

The app also supports buying, selling and swapping crypto across networks, and its interface shows assets including Bitcoin, Ethereum, Solana, USDT, USDC and other tokens. Trading is separate from the currency balances the card draws on.

An important nuance

Picnic's own help centre notes that the card's exchange rate differs from the commercial dollar rate, so while there is no visible fee and no IOF, the rate applied at conversion is where the real cost sits — the same structure most crypto cards use.

Card costs

• Annual fee: none
• Creating virtual cards: free
• Picnic fee on card spending: zero
• IOF on foreign-currency spending: zero

Why the zero-IOF claim is significant

IOF is a Brazilian tax on financial operations that conventional cards pass on for foreign transactions. Picnic states that its fee and the IOF are both zero on card spending, including through Apple Pay and Google Pay, which is the card's main selling point for travellers.

What is not published

Picnic does not publish a complete fee table on the product page — the full schedule lives in its help centre, which also documents crypto transaction fees and notes that the card's exchange rate differs from the commercial dollar rate. Conversion and top-up costs therefore need to be checked in the app or help centre rather than assumed.

How the card is funded

When you want to spend, you transfer only the amount you need to the card. The rest of your balance stays in the self-custodial account rather than sitting on the card.