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Third National

Sponsor bank
Sponsor BankBaaSCard Issuing

Sponsor bank tracked in the Embedded Finance Index. Named by 6 companies, most often as their sponsor bank.

thirdnational.com ↗
TypeSponsor bank
Used asSponsor bank, Banking-as-a-Service, Card issuer
Rank#34 of 199 in Sponsor Bank
Buyers6 companies

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How companies use Third National

6 companies name Third National in their stack. The most common role is sponsor bank (6). A company can use the same bank for more than one thing.

Sponsor bank6
Banking-as-a-Service1
Card issuer1
Who uses Third National
6 companies disclose Third National in their stack
EthenaKastWhopKartaAgentcardGrey
Buyer mix · 6 of 6 classified
Fintech / Crypto · 2Fintech / Cross-border payments · 1Fintech / Neobank · 1Infrastructure / Card issuing · 1Marketplace / Two-sided · 1
US · 4EU · 1LATAM · 1
What the disclosures say
Ethena
“The card program is managed by Signify Holdings, Inc. d/b/a Rain on behalf of the Issuer' and 'References in these Card Terms to the Issuer refer to Third National.' Card network disclosed as Visa (with Mastercard also referenced as possible network).”
Kast
“Regulatory footers (ra-card-terms-us, business-ra-card-terms-us) name 'Third National' as the Issuer for both US consumer and US business card programs.”
Whop
“Whop's own pages describe the product but do not name infrastructure partners; a third-party analyst's documented reading of Whop's own Terms of Service (lex.substack.com, "Analysis: Whop, There's your Neobank") attributes the Visa card program to a secured credit line issued by Third National under Rain's program rule…”
Karta
“Karta's B2C card terms name 'Third National' as the issuer of the Karta Spend Card under license from Visa; the account-opening privacy notice is published in the name of Third National (Issuer).”
Agentcard
“Privacy policy header: 'WHAT DOES THIRD NATIONAL ("ISSUER") DO WITH YOUR PERSONAL INFORMATION?' Docs: 'AgentCard is moving its issuing rail to Rain (stablecoin-collateralized Visa) funded by a per-user Coinbase CDP wallet holding USDC on Base.' Homepage: 'network = Visa; lifecycle = single-use.'”
Grey
“Consumer Card Terms (US) at grey.co/legal/consumer-card-terms-us names 'Third National' as the Issuer.”
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Other banks in Sponsor Bank

Other banks named for Sponsor Bank in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.

Evolve Bank & Trust100 buyers →Sutton Bank64 buyers →Cross River63 buyers →Pathward43 buyers →Celtic Bank39 buyers →Community Federal Savings Bank37 buyers →Thread Bank31 buyers →The Bancorp Bank25 buyers →
Share this rank

An embeddable badge for Third National’s own site — it always shows this page’s current rank, so it stays accurate as new disclosures land. States its own denominator; never claims a number this page doesn’t.

Ranked #34 of 199 in Sponsor Bank — Embedded Finance Index 2026
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       alt="Ranked #34 of 199 in Sponsor Bank — Embedded Finance Index 2026">
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Third National — frequently asked

Which companies use Third National?

6 companies are linked to Third National in the Embedded Finance Index 2026, through their own public disclosures or Third National's published customer list, including Ethena, Kast, Whop, Karta, Agentcard and Grey.

What do fintechs use Third National for?

Third National is a sponsor bank. Companies in the Embedded Finance Index 2026 name it as their sponsor bank (6), banking-as-a-service (1) and card issuer (1).

What are the alternatives to Third National?

The most-named Sponsor Bank alternatives to Third National are Evolve Bank & Trust (100 buyers), Sutton Bank (64 buyers), Cross River (63 buyers), Pathward (43 buyers), Celtic Bank (39 buyers) and Community Federal Savings Bank (37 buyers).

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