Cake
Digital bank inside Vietnam's ride-hailing app Be; 5M users in four years.
VPBank + Be Group; 5M+ users.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Partner: VPBank.
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from Cake’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| AI | AI underwriting in production |
| HQ | Ho Chi Minh, VN |
| Founded | 2021 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Partner: VPBank |
| Card | Visa · Debit |
| Cashback | Cashback |
| Yield | Competitive savers |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Asia |
| Founders | Be Group x VPBank |
Verified links: official site ↗
Common questions about Cake
What is Cake?
Cake is a fiat neobank, headquartered in Ho Chi Minh, VN and founded in 2021. Your money is held custodially, so Cake or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Partner: VPBank).
Does Cake have a card, and where can you use it?
It issues a Visa debit card. It is available in Asia.
Does Cake require KYC?
Yes. Cake requires identity verification (KYC) to open an account, as a partner-bank model.
What does Cake cost?
From the verified fields: cashback Cashback; yield Competitive savers. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Cake before relying on them.
Peers
Wise · KakaoBank · WeBank · bKash · Maya · GCash
Cake appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in Asia (132) · Neobanks that issue a Visa card (182) · Neobanks in Vietnam (6)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.