Lava
Started as self-custodial DLC loans, pivoted to custody after a $200M raise — the loudest custody U-turn in bitcoin fintech.
Bitcoin line of credit + card; dropped self-custody (DLC) for cold-storage custody in Sept 2025.
The facts
| Category | hybrid |
| HQ | New York, US |
| Founded | 2022 |
| Custody | Custodial |
| Regulation type | Other / mixed |
| License detail | Custodial (cold storage, distributed keys) since Sept 2025 |
| Card | Visa · Secured credit |
| Cashback | Up to 5% BTC |
| Yield | USD yield on deposits |
| Stablecoins | Yes |
| KYC | Yes |
| Active regions | North America |
| Countries | United States |
| Founders | Shehzan Maredia |
| Funding | ~$227M raised (Founders Fund, Khosla) |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @lava_xyz ↗
Common questions about Lava
What is Lava?
Lava is a fiat-and-crypto neobank, headquartered in New York, US and founded in 2022. Your money is held custodially, so Lava or its partner bank holds the balance and you hold a claim on it. Its regulatory structure is mixed (Custodial (cold storage, distributed keys) since Sept 2025).
Does Lava have a card, and where can you use it?
It issues a Visa secured credit card. It is available in North America.
Does Lava require KYC?
Yes. Lava requires identity verification (KYC) to open an account, as a other / mixed.
What does Lava cost?
From the verified fields: cashback Up to 5% BTC; yield USD yield on deposits. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Lava before relying on them.
Early investors
Peers
Revolut · Cash App · Mogo · Venmo · Robinhood · Crypto.com
Lava appears in
Neobanks available in North America (126) · Neobanks that issue a Visa card (182) · Neobanks in United States (66)
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.