What Is Plutus? The Crypto Rewards Card, Plans and 2026 Status

Plutus is the trading name of two companies. Block Code Ltd is registered in England and Wales. Block Code LT UAB is registered in Lithuania ¹. For EEA customers, the terms name the Lithuanian company as the provider and apply Lithuanian law ².

Plutus does not issue the card or hold your money itself. The terms say the card and electronic money account come from a "banking partner", which is an authorised e-money institution that keeps customer funds in segregated accounts ². From 2023 that partner was Modulr ⁷. Plutus says it ended the Modulr contract in October 2025 ⁶.

The model has three layers:

1. A plan. You need a paid monthly plan to earn rewards. Starter, Everyday and Premium cost £/€6.99, £/€9.99 and £/€19.99 at current promotional prices. They reward the first £/€250, £/€500 or £/€1,000 of monthly spending, plus one to three "perks" ⁴.
2. PLUS rewards. Eligible card spending earns 3% back in PLUS. Perks give up to £/€10 of PLUS back each month at listed brands such as streaming or grocery merchants ¹⁴. PLUS can be redeemed in the app, for example for gift cards or card top-ups ¹⁶.
3. PLU reward levels. Holding more PLU raises your rate in steps. Holders of 2,000 PLU earn 4%, and holders of 40,000 PLU earn 9% ⁴. Since May 2025, PLU can no longer be earned by spending. It is now called "Pluton" or "Rare PLU" and serves mainly for levels and a "CRY" yield on stacked rewards ³.

Plutus's terms say rewards are in-app loyalty points, not cashback ². They have no fixed cash value, and their redemption value depends on Plutus's own utilities.

Plutus's Fees & Limits page listed these charges on October 23, 2026 ⁵:

Add the monthly plan fee to these charges. Illustration: a Starter subscriber who spends the full £250 eligible amount earns 3%, which is £7.50 in PLUS at face value. The plan costs £6.99, so the net benefit is about £0.51 before any perk ⁴. Higher plans and perks change the math, and PLUS value depends on how you redeem it.

Plutus's card service has been in transition. In its February 20, 2026 FAQ, Plutus said ⁶:

• It ended the Modulr contract in October 2025, citing services not delivered as promised.
• Restrictions on customer funds followed. Plutus said all funds were later returned and pending gift-card settlements completed. Customers with funds still at Modulr were directed to a Modulr claims process.
• Card spending was not possible during the migration. Subscribers still received PLUS equal to their plan's cap and perks each month.
• Users could switch to a free "PlutusLite" mode.
• A new banking partner, not yet named, would bring an IBAN, card top-ups and Apple Pay. Plutus said the new cards would return "this summer."

CoinPulse found no later announcement on Plutus's blog confirming the relaunch as of October 23, 2026. Check the app or Plutus support for current card availability before you subscribe.

PLU is an ERC-20 token held in external wallets ³. PLUS started as in-app points. Plutus is moving it on-chain on the Base network through a platform called PlusMore ⁸¹¹. Plutus published a MiCA white paper for PLUS. It disclosed that the issuer might provide temporary Uniswap liquidity on Base, which was to be withdrawn by December 31, 2025 unless it gained CASP authorisation ⁹. Plutus describes holding an EU VASP registration and an "ESMA registration" for PLUS. These are company descriptions, not a banking license ⁸. Its terms warn that complaints about reward tokens generally fall outside the remit of Lithuanian financial regulators ².

Plutus publishes separate terms for the UK and the EEA. The EEA terms cover consumers in Lithuania and the EEA ². CoinPulse found no current Plutus card product for US residents.