Moto Joins the Eterna Capital Portfolio

We are excited to officially announce our recent investment into Moto.

OFFICIAL ANNOUNCEMENT here.

Blockchain is superior financial infrastructure — users shouldn’t have to see it.

At Eterna Capital, we believe the next generation of global financial products will run on blockchain rails long before users even realize it. The companies that win won’t be the ones asking people to interact with wallets or seed phrases — they’ll be the ones delivering a radically better experience because they’ve rebuilt the financial stack under the hood.

This is why we’re excited to announce our investment in Moto, co-leading their $1.8M pre-seed round alongside cyber.Fund. Moto is building something many teams have attempted but none have executed at scale: the first true on-chain credit card — a premium global charge card backed by programmable, yield-generating collateral.

A founding team built for this moment

Moto is led by a team that has already spent years working together at the intersection of stablecoin infrastructure and payments engineering. Their combined experience spans crypto lending, alternative data, enterprise-scale checkout systems, and the stablecoin middleware stack they helped develop at Squads Labs (Grid). After collaborating closely on research, infrastructure, and payment flows, and seeing firsthand why existing crypto cards fail, they left Squads with a shared conviction: a premium, yield-backed, programmable credit card for HNW users is the category that has been missing. Moto is the direct product of that joint insight, and the founders’ complementary backgrounds give them the execution depth needed to build it.

A new category: real credit secured by programmable money

Most “crypto cards” today are mislabelled debit products. Users pre-fund balances, issuers convert stablecoins to fiat, and spending draws from deposits — no underwriting, no credit, no real risk engine.

Moto is taking a fundamentally different path. By leveraging non-custodial smart-contract reserves and partnering with regulated issuers and credit facility providers, Moto fronts the transaction at point of sale and settles monthly using funds the user has deposited — funds that remain fully programmable and continue earning yield.

The blockchain is invisible to the user; the benefits are not.

Collateralized credit is not a bug — it’s already mainstream

It’s easy to assume that credit cards are defined by unsecured borrowing, but the way consumers actually use them tells a very different story: collateral-first behavior is already how a massive portion of users interact with credit today.

In the U.S. (according to the American Bankers Association):

• 40.3% of cardholders are revolvers (carry balances)
• 36.1% are transactors (pay in full monthly)
• 23.6% are inactive

Transactors — over one third of all users — effectively use a collateralized charge-card model, with their “collateral” sitting invisibly in the banking system earning 0%. Meanwhile, some industry analyses estimate that roughly a quarter to a third of new cards opened in 2023 were secured or partially secured. This isn’t fringe behavior; it’s mainstream.

Moto simply improves the model. Instead of idle bank deposits, users hold yield-bearing assets generating 5–10% APY, unlocked by stablecoin strategies like Reflect, USD* (soon to be implemented) and other emerging yield engines. Collateral becomes productive capital, benefiting both users and the platform.

The overlooked insight: DeFi already has the balance sheet to power global credit

One of the most compelling and least discussed parts of Moto’s thesis is the scale of idle credit available on-chain today.

A single protocol Aave v3 has around $30 billion in unused borrowing capacity. Major DeFi lending markets have TVL in the tens of billions of dollars (~$55 billion in mid-2025), indicating that a meaningful portion of credit supply remains under-utilized.

This is before accounting for the explosive rise of:

• tokenized treasuries (BlackRock BUIDL, Circle USYC, Superstate, Ondo);
• yield-bearing stablecoins (USDM, USD*, Reflect);
• restaking-insured stablecoins; and
• institutional private credit vaults.

As Real-World Assets (RWAs) continue to dominate stablecoin collateral, on-chain credit supply could easily expand into the hundreds of billions.

The building blocks for a global, programmable credit network already exist — Moto is the interface that brings them to consumers.

From collateralized charge-card to full undercollateralized credit

Moto’s initial product is intentionally conservative: a premium charge card backed by yield-generating collateral. This approach is secure, compliant, and globally scalable.

But the roadmap extends far beyond it.

As Moto completes its regulatory build-out and finalizes partnerships with sponsor banks, the company will progressively unlock undercollateralized credit supported by:

• hybrid on/off-chain underwriting;
• Fair-Lending compliant scoring;
• variable interest structures;
• bank-grade risk absorption; and
• stablecoin-native settlement rails.

This is the same scaling path followed by every major fintech credit company. Moto is simply applying it to programmable money.

A luxury card built for the crypto-affluent

Moto will launch with a curated early user base: 20 HNW individuals. It is part of a fast-growing demographic often misunderstood by traditional banks: crypto-affluent consumers. This is the most natural place to begin, as crypto users already understand the value of programmable money and yield-bearing collateral.

But Moto is not a crypto-only product.

The architecture is intentionally designed for a much broader audience. While crypto-affluent users are the first logical adopters, the real opportunity lies in offering a superior credit experience to mainstream consumers: faster settlement, smarter risk controls, better economics, and global operability — powered quietly by crypto rails, even if users never see or touch them.

Crypto rails for everyone is the long-term vision

Today:

• ~240k people hold over $1M in crypto (according to New World Wealth); and
• ~11% of crypto-owners hold over $100,000 in crypto (according to the National Cryptocurrency Association’s 2025 State of Crypto Holders Report). (note: conservative figures estimate that there are ~300m crypto-owners worldwide in 2025).

They are global spenders with non-traditional income patterns who value flexibility, control, and premium services. They want something closer to Amex Centurion — not another challenger-bank debit product.

Moto delivers exactly that:

• Visa Infinite benefits;
• crypto-native rewards;
• an AI-powered concierge;
• yield-bearing collateral;
• premium brand partnerships; and
• a modern, luxury financial identity.

The bigger picture: a market ready for reinvention

Credit cards represent a $35 trillion annual global transactions volume.
191 million U.S. adults use at least one card (according to the Federal Reserve Bank of New York).
Amex alone has 141 million cards in circulation.

Moto is not building a ‘crypto credit card’. It’s building the first premium, programmable credit card designed for the world that stablecoins, RWAs, and on-chain settlement are already creating — a world where these rails will serve everyone, not just crypto users.

This is financial infrastructure rebuilt for the next century — seamless, global, real-time, and invisible to the user.

We’re proud to support Moto alongside cyber•Fund as they bring this vision to life.

About Moto

Moto is the first credit card that pays its own debt off. Exclusively available to a select community of entrepreneurs, tastemakers and crypto power users.

For more information, visit https://www.moto-card.com/ or follow them on X.

About Eterna Capital

Eterna Capital is a venture capital firm dedicated to advancing Web3 technologies and the decentralized web. We invest in visionary entrepreneurs pioneering breakthroughs across this emerging landscape, aiming to drive innovation and long-term value creation. By empowering these innovators, Eterna Capital plays a vital role in shaping the future of the decentralized internet while offering our investors strategic access to this transformative ecosystem.

For more information, visit www.eternacapital.com or follow us on LinkedIn, X and Bluesky.

Disclaimer:

This post has been prepared for general informational purposes only and reflects the current views of its authors. The views expressed do not necessarily represent those of Eterna Capital, its affiliates, or individuals associated with Eterna Capital, and may change without notice.

Nothing contained herein constitutes or should be construed as investment, legal, accounting, or tax advice, or as a recommendation, offer, or solicitation to buy or sell any investment. This material should not be relied upon to evaluate the merits of any investment decision.

Eterna Capital makes no representation or warranty, express or implied, regarding the accuracy, completeness, or reliability of the information contained herein. All liability in connection with this material and any reliance thereon is expressly disclaimed.