Kolo is a crypto wallet and card app for spending, sending, and swapping. The public site markets a Visa or Mastercard that spends a crypto balance, with 2% cashback paid in bitcoin. The terms of use, version 3.0.0 and dated July 1, 2026, are the source for who operates the service and for the base swap fee.
From that date, the terms say all Kolo services are provided by Hardline Holding Limited, a Kazakhstan company number 221240900259, licensed in the AIFC FinTech Lab as AFSA-G-LA-2024-0011. Card services are provided with Signify Holdings Inc. in Delaware, and the terms point to Rain’s site for that card relationship. Earlier operators named in the terms are Cryppo, UAB through the end of 2025, and BURVIX SP. Z O. O. from January 1 to June 30, 2026.
How is Kolo structured as a wallet and card?
Kolo’s terms say that from July 1, 2026 the wallet is non-custodial. The private key is split in a multi-party computation arrangement. The user holds a key share that is required for every transaction, and Kolo holds a separate share that cannot move funds by itself.
The terms say Kolo does not store the digital assets and does not charge a storage fee. The user is responsible for the key share, the device, and access to the wallet. A card charge is a separate service from that wallet custody model, because the card partner has to authorize merchant payments.
The site and the terms also list a Telegram mini app, iOS, and Android. KYC on the marketing page is described as Sumsub-powered. The terms say the service is a financial product with risk of total loss, and they are not a promise that a card payment will clear.
How does spending and swapping work in the app?
The homepage says BTC, ETH, USDC, and other holdings convert at the time of payment. It markets a 0% markup on USDT, USDC, and EURC, at exchange-level rates. The card is how those balances reach a merchant that accepts Visa or Mastercard.
A swap or an exchange order is priced before the user confirms it. Section 12 of the terms sets the base fee for an acquisition, sale, or swap at 1% of the order, plus banking or network expenses that vary. The order screen is supposed to show both numbers before acceptance.
Sending to a bank account is a marketed feature, including SEPA destinations such as Revolut, Wise, and N26. The terms treat email payouts and cashback as programs Kolo can reprice. Network fees on a transfer still exist even when Kolo’s own line is zero.
The site title says spending is offered in 60+ countries, and the homepage says wallet features are broader than the card. A specific country list is not printed on the homepage copy reviewed for this article. The app is the availability check after KYC.
What fees does Kolo publish?
Two different documents carry the prices, and they cover different actions.
| Item | Published figure | Source |
|---|---|---|
| Exchange, sale, or swap | 1% base fee, plus banking or network expenses | Terms, July 1, 2026 |
| Stablecoin markup on spend | 0% on USDT, USDC, and EURC | Homepage |
| Card cashback | 2% paid in bitcoin | Homepage |
| Custody or storage | None. Kolo says it does not hold the assets | Terms |
| Cashback program fees | Not fixed. Kolo may add, change, or waive them | Terms, section 12.5 |
The homepage figure and the terms figure are not the same kind of fee. A 0% markup on a stablecoin spend can sit next to a 1% fee on a swap that funds the balance. Card-network and ATM prices are not in the July 2026 terms section that sets the 1% swap fee. Those card prices, if the app shows them, are order-screen disclosures rather than a number in the terms excerpt.
A $100 swap of a non-stablecoin into USDT would carry a $1 base fee under section 12, before any network expense shown on the order. Spending that USDT at a merchant is the flow the homepage prices at a 0% markup, with 2% bitcoin cashback if the cashback program is paying. The terms allow that cashback program’s fees to change.
Who can get a Kolo card, and what limits apply?
The terms require an account and acceptance of the July 1, 2026 agreement. KYC is required for the card path the homepage describes. Availability of card services depends on the card partner and on local rules.
No daily spend cap, ATM cap, or country exclusion list appears in the terms sections used here. The homepage’s “60+ countries” line is the published geographic marker. Limits that do apply are the ones shown before an order is confirmed.
What custody and fee tradeoffs does the July 2026 model create?
The user can block a transfer by withholding the key share, and Kolo says it cannot unilaterally move the assets. The user also cannot ask Kolo to restore a lost share. That is the non-custodial constraint, and it is explicit in the terms.
The operator of the service changed twice in seven months, from a Lithuanian firm to a Polish firm to Hardline in Kazakhstan. The terms say the change does not rewrite which firm was responsible before July 1, 2026. A dispute about an older balance follows the operator of that period.
Bitcoin cashback moves with the bitcoin price after it is paid. A 2% headline on the homepage is a program rate, and section 12.5 says the program can be repriced. The 1% swap fee is the number with a fixed base in the terms.
Kolo is not an insured depository. The AIFC license identifier in the terms is a regulatory status for Hardline’s services from July 1, 2026, not deposit insurance.
Common questions
Does Kolo hold the crypto?
The July 1, 2026 terms say no. The wallet uses split keys, and Kolo’s share cannot move funds alone.
Is the card the same product as the 1% fee?
The 1% is the base fee on an exchange order. The homepage prices stablecoin card spend as a 0% markup plus 2% bitcoin cashback. A swap into the spend asset can still cost 1% before the card is used.
Who issues the card?
The terms say card services are provided with Signify Holdings Inc. and reference Rain. Hardline Holding Limited is the Kolo contracting party from July 1, 2026.
