Yes. A friend with a referral relationship, or who enters a code while applying for a card, receives 5 USDT on the first card they open. That card can be a Cloud Card (virtual) or a Boundless Card (physical). The reward is issued on whichever card is opened first. Timing follows what the app shows.
Are there any benefits for the referred friends?
Referred friends receive a 5 USDT activation reward after successfully opening their first virtual card, issued to their wallet immediately after card approval.