EST. 2012 CODEGO GROUP LTD · MALTA BANKING AS A SERVICE LOCAL IBAN · 15 COUNTRIES SEPA · SEPA INSTANT · SWIFT · 21 CCY PCI DSS CERTIFIED 2025 API FIRST · WEBHOOKS 79 COUNTRIES DEPOSITS MULTI-CURRENCY · 12+ FIAT $1.1BN PROCESSED 2025 EST. 2012 CODEGO GROUP LTD · MALTA BANKING AS A SERVICE LOCAL IBAN · 15 COUNTRIES SEPA · SEPA INSTANT · SWIFT · 21 CCY PCI DSS CERTIFIED 2025 API FIRST · WEBHOOKS 79 COUNTRIES DEPOSITS MULTI-CURRENCY · 12+ FIAT $1.1BN PROCESSED 2025
Codego · Banking infrastructure · est. 2012 Comparison · Vol. XII · Issue 06/2026 ● Live · 7 regions · Malta HQ
CMP

Codego vs Unlimit.
An honest comparison
of crypto card programmes and white-label banking infrastructure.

Unlimit is a large global payments company whose Banking-as-a-Service stack spans card acquiring, alternative payment methods, a fiat on/off-ramp for crypto and full card issuing across many regions. Codego comes at the same problem from a sharper angle: dedicated white-label crypto-card infrastructure where on-the-fly crypto-to-fiat conversion is a first-class product, the launch path is fast, the economics are revenue-share, and a self-service sandbox plus REST API let a small team build immediately. Where Unlimit positions itself as one enterprise vendor for the entire payments stack, Codego is the focused infrastructure partner for teams whose core product is the card itself — virtual cards on day one, physical cards by day 15.

Talk to Codego Comparison table
01
At a glance

At a glance

  Codego Unlimit
Headquarters Malta (EU) London, UK
Founded 2012 2009 (formerly Unlimint / CardPay)
Regulatory framework EMI distribution via licensed partner issuers; pan-EU passporting; locally licensed BINs across 7 regions Broad multi-jurisdiction licensing for acquiring, payments and issuing across many regions
Card schemes Visa and Mastercard, both with BIN sponsorship Visa and Mastercard issuing
White-label crypto cards First-class: stablecoin and crypto-funded with on-the-fly conversion at POS Card issuing plus a fiat on/off-ramp for crypto; crypto card is one product within a broad stack
Global issuing reach Locally licensed issuers/BINs across 7 regions: EU, US, UAE, Asia, Africa, LATAM, Oceania Very broad: Europe, APAC, Africa, LATAM and more under one global platform
EU IBAN issuance Native via partner EMIs; SEPA, SEPA Instant, SWIFT Instant SEPA, SWIFT and BACS supported within its payments rails
Time to launch Virtual cards day 1; physical cards by day 15 White-label cards quoted in under 90 days
Self-service sandbox / API Yes — self-service sandbox key, REST API, no-code console Single stackable API; enterprise onboarding typically sales-led
Apple Pay / Google Pay Included; provisioned within 24 hours Supported on issued cards
Pricing model Revenue-share plus interchange for programme managers Enterprise platform, processing and per-transaction fees
02
Where Codego is the stronger choice

Where Codego is the stronger choice

Crypto cards are a first-class product, not a feature on the side

Unlimit offers card issuing and a fiat on/off-ramp for crypto as parts of a very broad payments platform. Codego is built specifically around the crypto card: white-label crypto cards run with stablecoin and crypto funding and on-the-fly conversion at the moment of authorisation, so the cardholder spends in fiat at the point of sale while the programme settles from its designated digital-asset balance. When the crypto card is your core product rather than one line item in an enterprise contract, working with a partner whose whole platform is engineered around that flow removes a category of integration and roadmap risk.

Revenue-share economics built for programme managers

Codego works with programme managers on a revenue-share plus interchange model, so as card spend grows your programme becomes a revenue line rather than only a cost centre. Large global payments vendors typically structure enterprise issuing around platform, processing and per-transaction fees negotiated per contract. For a fintech or programme manager whose unit economics depend on participating in interchange and spend, Codego's Banking-as-a-Service commercial model is aligned with how you actually make money from a card programme.

Launch in about 15 days, not up to 90

Unlimit quotes white-label card programmes in under 90 days. Codego's onboarding delivers virtual card issuance on day one and physical cards by day 15. That difference is months of revenue, user acquisition and iteration cycles. Codego's self-service tooling lets programme managers configure limits, fee schedules, velocity rules and card art without waiting on a managed-service queue. For lean teams moving at commercial speed, the operational autonomy of Codego's core banking layer is a concrete advantage over a longer enterprise rollout.

Developer-first: self-service sandbox and REST API

Codego is built for developers. You can generate a sandbox key at apikey-visacard-sandbox.codegotech.com, call the API at https://vcc-sandbox.codegotech.com/api/v1 with an X-Api-Key: vcck_sbx_… header, and follow the docs at developers.codegotech.com/visa-crypto-card.html. There is also a no-code white-label console for teams that want to model a programme before writing integration code. A small team can be issuing test cards the same day, without a sales call gating access to the technology.

Apple Pay and Google Pay included, native EU IBAN underneath

Apple Pay and Google Pay provisioning is included with Codego programmes and typically completes within 24 hours of card issuance, so cardholders can tokenise and tap to pay immediately. Underneath the card, Codego provisions native EU IBANs through partner EMIs with full SEPA Instant, standard SEPA and SWIFT connectivity. For programmes that need to hold client funds, receive credits or enable transfers alongside the card, native IBAN issuance plus real-time crypto-to-fiat is the architecture that scales without bolting on third-party dependencies.

A focused infrastructure partner, not a vendor relationship at enterprise scale

Unlimit serves a very large customer base across the entire payments stack, which means a crypto card programme is one of many priorities competing for engineering and account attention. Codego is a focused infrastructure partner: established in 2012, PCI DSS Level 1 certified (Adsigo, 2025), with roughly 366,000 cards issued, about $1.1bn processed and 59 live programmes in 2025. For a team that wants direct access, fast iteration and a partner whose roadmap is centred on white-label crypto cards rather than spread across acquiring, payouts and dozens of payment methods, that focus is the point.

03
Where Unlimit is the stronger choice

Where Unlimit is the stronger choice

Honesty matters. Unlimit is a large, capable global company, and there are scenarios where it is the better answer.

One enterprise vendor for the entire payments stack

Unlimit's strength is breadth. Card acquiring, more than a thousand local and alternative payment methods, payouts, Banking-as-a-Service, a fiat on/off-ramp and card issuing all sit behind a single stackable API and a single contract. If your organisation wants to consolidate acquiring, settlement, payouts and issuing with one established enterprise partner rather than assembling them from specialists, that consolidation is genuinely valuable. Codego is deliberately narrower — focused on white-label crypto cards and the banking rails immediately around them — and does not aim to replace a full-stack global acquirer.

Very broad global licensing and acquiring footprint

Unlimit operates across Europe, APAC, Africa, LATAM and more, with regional entities and licensing built up over many years. For a merchant or platform that needs to accept and process payments at scale in many markets simultaneously — not only issue cards — Unlimit's global acquiring breadth and multi-jurisdiction licensing are real, hard-won assets. Codego's reach spans 7 issuing regions through locally licensed partners, which is strong for card programmes, but Unlimit's all-round payments licensing breadth across continents is a legitimate enterprise advantage.

Enterprise scale and a mature, full-service organisation

As a large, well-funded fintech with a long track record under the Unlimit, Unlimint and CardPay brands, Unlimit brings the scale, balance-sheet depth and full-service account management that some enterprise procurement processes require. Large merchants and established institutions sometimes need a vendor of a certain size and operational maturity to satisfy due-diligence and resilience requirements. Codego is a focused infrastructure provider; for buyers whose primary criterion is the size and breadth of the counterparty rather than crypto-card specialisation and speed, Unlimit's scale is a fair reason to choose it.

04
Frequently asked questions

Frequently asked questions

Q1.Is Codego or Unlimit better for launching a white-label crypto card?
Both can issue white-label cards, but they are built for different buyers. Unlimit is a large global payments and Banking-as-a-Service company whose card issuing sits alongside acquiring, alternative payment methods and a fiat on/off-ramp — a strong fit for enterprises that want one vendor for many payment needs. Codego is a focused crypto-card infrastructure partner: crypto-to-fiat conversion at the point of sale is a first-class product, the launch path is fast (virtual cards day one, physical cards by day 15), and a self-service sandbox plus REST API lets lean teams build immediately. If a crypto card is your core product and you want revenue-share economics, Codego is usually the better fit.
Q2.How does Codego's revenue-share model differ from a typical enterprise payments contract?
Codego works with programme managers on a revenue-share and interchange model, so as your card spend grows you participate in the economics of the programme rather than paying only flat platform fees. Large global payments vendors such as Unlimit typically structure enterprise card-issuing engagements around platform, processing and per-transaction fees negotiated per contract. Codego's approach is designed for fintechs and programme managers who want their card programme to be a revenue line, not just a cost centre. Exact terms depend on volume, region and product mix and are scoped during onboarding.
Q3.Does Codego offer a self-service sandbox and API like a developer-first platform?
Yes. Codego is developer-first. You can generate a sandbox key at apikey-visacard-sandbox.codegotech.com, call the API at the base URL https://vcc-sandbox.codegotech.com/api/v1 with an X-Api-Key header in the form vcck_sbx_…, and follow the documentation at developers.codegotech.com/visa-crypto-card.html. There is also a no-code white-label console for teams that want to configure a programme without writing integration code first.
Q4.Are Apple Pay and Google Pay included with a Codego crypto card programme?
Yes. Apple Pay and Google Pay provisioning is included with Codego card programmes and is typically completed within 24 hours of card issuance, so cardholders can tokenise their card into a mobile wallet and tap to pay immediately. This keeps the mobile experience consistent with premium consumer fintech expectations while the underlying balance can be funded from crypto or stablecoins with on-the-fly conversion at authorisation.
Q5.Can Codego issue native EU IBANs and settle crypto to fiat in real time?
Yes. Codego provisions native EU IBANs through partner EMIs with SEPA, SEPA Instant and SWIFT connectivity, and its crypto card infrastructure converts the required fiat amount from a crypto or stablecoin balance in real time at the moment of authorisation. The cardholder spends in fiat at the point of sale while the programme settles from its designated digital-asset balance. Conversion parameters and supported asset pairs are configurable at programme level.
Q6.When should I choose Unlimit over Codego?
Choose Unlimit when your priority is breadth across the whole payments stack at enterprise scale — global card acquiring, 1000+ local and alternative payment methods, BaaS and card issuing under a single large vendor with extensive licensing across many regions. If your organisation wants one established enterprise partner to consolidate acquiring, payouts and issuing across multiple continents, Unlimit's scale and global reach are genuine strengths. Codego is the better choice when a crypto card is the core product and you value fast launch, revenue-share economics and a self-service API.