Pudgy Penguins (PENGU) Price Rises After Visa Partnership Reveals Crypto Debit Card

TLDR

• Pudgy Penguins announced a partnership with Visa to launch the Pengu Card, a cryptocurrency debit card accepted at over 150 million merchants worldwide.
• The card offers up to 12% rewards and 7% yield on balances, allowing users to spend stablecoins or cryptocurrencies directly without using exchanges.
• PENGU token price rose more than 3% after the announcement, with trading volume jumping 56% in 24 hours.
• The card has three tiers (Standard, Black, Gold) with varying reward rates, and users must join a waitlist through the KAST app.
• PENGU is currently the eighth-largest memecoin by market cap at $389 million, though it has lost nearly 90% of its value since its December 2024 all-time high.

Pudgy Penguins announced a partnership with Visa on Wednesday to launch the Pengu Card. The cryptocurrency debit card will let users spend digital assets at over 150 million merchants globally.

The PENGU token, which runs on the Solana blockchain, increased more than 3% following the announcement. Trading volume jumped 56% over the last 24 hours.

The Pengu Card partnership includes payments giant Visa and KAST, a cryptocurrency finance app. Users can spend stablecoins or cryptocurrencies directly without converting assets on centralized exchanges first.

The card system includes three membership levels. The Standard tier offers 6% rewards on purchases. The Black tier provides middle-range benefits. The Gold tier delivers the maximum reward rate at 12%.

Card holders can also earn up to 7% yield on their account balances. The rewards program aims to make cryptocurrency spending more practical for everyday purchases.

Waitlist and Referral Program

To obtain a Pengu Card, users must join a waitlist and create an account on KAST. Each person who joins receives a unique referral code to share with others.

The project includes a leaderboard system based on referrals. The top 10 referrers will receive the Black Card tier as a reward. This structure encourages community participation in the card rollout.

Users at the top of the referral rankings will get free access to the Pengu Card. The waitlist system controls the initial distribution of cards to users.

Market Position and Token Performance

PENGU currently holds a market capitalization of $389 million. This makes it the eighth-largest memecoin by market value, ranking above Floki and Dogwifhat.

The token launched in December 2024 with high price swings. It quickly reached an all-time high of $0.05738 shortly after launch.

Since that peak, PENGU has declined nearly 90% in value. At the time of the announcement, PENGU was trading at $0.006188.

Visa shares rose 0.30% in after-hours trading. The stock had closed 0.33% higher at $329.24 during Wednesday’s regular session.

The Pudgy Penguins NFT collection is expanding beyond digital collectibles into consumer finance. The project aims to connect cryptocurrency with retail shopping and daily payment activities through the Pengu Card system.

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