Best Crypto Cards in Panama (2026)

Panama does not have comprehensive crypto-specific legislation. The SBP (Superintendencia de Bancos de Panama, Superintendency of Banks of Panama) regulates banking. The SMV (Superintendencia del Mercado de Valores) oversees securities.

Panama's National Assembly passed a crypto bill in 2022, but it was partially vetoed. The regulatory environment remains permissive - crypto is not banned and is used widely. Panama's territorial tax system and USD economy naturally accommodate crypto usage.

Crypto.com, KAST, and Wirex serve Panamanian residents under global coverage. Panama's USD economy means card settlement is seamless with no FX conversion.

Panama's permissive regulatory stance, territorial tax system, and USD economy create an ideal environment for crypto card usage.

Panama uses a territorial tax system. Income from foreign sources is not taxed. Domestic-source income is taxed at progressive rates up to 25%.

Example: You bought BTC on a global exchange and spend it through your card in Panama. The gain is from a foreign source. Tax = $0.

Since most crypto trading occurs on global platforms, crypto gains are generally classified as foreign-source income and are tax-free. Only crypto services provided to Panamanian clients or crypto businesses operated within Panama may generate domestic-source taxable income.

For most crypto card users, Panama offers zero tax on crypto gains. No tax optimization strategy needed.

Panamanian crypto card applications require a cedula de identidad personal (Panamanian national ID card) or pasaporte (passport) for citizens. Foreign residents need a passport plus permiso de residencia (residence permit) or carnet de residente.

The cedula number is the primary identifier. Proof of address via factura de servicios publicos (utility bill - ENSA electricity, IDAAN water), estado de cuenta bancario (bank statement from Banco General, Banistmo), or contrato de alquiler (rental agreement).

Physical cards ship to Panamanian addresses within 14-21 business days. Virtual cards are available immediately for Apple Pay and Google Pay use. The USD economy means no currency conversion on card loads.

Zero Tax + Zero FX = Pure Profit

Panama's territorial tax system (zero tax on foreign-source crypto) plus USD as legal tender (zero FX conversion) means every dollar of cashback is pure profit. No optimization needed.

Card Selection by Use Case

• KAST (2% cashback, free): Best no-fee starter
• Crypto.com (up to 5%): Best metal tier range
• MetaMask (1%, free): Best self-custody Mastercard
• Wirex (up to 8%): Best for power users

Spending Scenario: $2,000/month

$480/year with zero tax, zero FX. Spend whatever maximizes your rewards.

Local Payment Infrastructure

Card acceptance is strong in urban Panama: Multiplaza, Albrook Mall, MetroMall, and other shopping centers, supermarkets (Super 99, Riba Smith, El Rey), restaurants, and hotels in Panama City, Coronado, and Boquete accept Visa/Mastercard. Cash is still common at mercado (markets), buses, and smaller shops outside Panama City.

Global issuers: Crypto.com (up to 5%), KAST (2%), Wirex (up to 8%), and RedotPay serve Panamanian residents under global coverage. MetaMask (1%) offers self-custody spending.

Local/regional: Panama's crypto scene is growing with local meetups and Bitcoin ATMs in Panama City. Traditional banks do not offer crypto services. Binance P2P and other platforms provide local on-ramps.

ether.fi (3%, credit-based) offers a borrow-to-spend model. In Panama's zero-tax environment, the combined staking yield + cashback strategy maximizes returns without tax drag.

Panama's USD economy, territorial tax system, and growing crypto community make it a top LATAM destination for crypto card users.