Originally behind the Avalanche blockchain network, the charity Avalanche Foundation has introduced the Avalanche Card, a Visa credit card specifically for bitcoin transactions. Customers can use this innovative card to spend their digital assets at millions of sites worldwide that accept Visa.
Announced on October 21, the Avalanche Card supports Benqi Liquid Staked AVAX, Circle’s USD Coin, and Wrapped AVAX, among other cryptocurrencies. Both physical and digital forms will be available, providing consumers with flexibility in their crypto expenditure patterns.
The Avalanche Card stands out mostly for its link to a self-custody wallet, which guarantees that every user keeps control over their assets using a distinct address for every cryptocurrency. Crucially, the Avalanche Card ensures more financial freedom and privacy by not recording user transactions to credit bureaus.
Rain Liquidity, a financial technology company, issues the card; it is neither guaranteed by the Federal Deposit Insurance Corporation nor supported by conventional banks. Users should be aware that while the card offers access to digital currencies, the value of these assets may fluctuate.
Residents of Latin America and the Caribbean will first be able to access the Avalanche Card; plans call for more general availability going forward. However, countries such as Cuba, Venezuela, and North Korea will not qualify as applicants. Crucially, the Avalanche Card will not charge any fees for purchases; however, users should carefully consider the full conditions for any related expenses. This project represents a major step in closing the distance between conventional banking and the expanding bitcoin industry and therefore enabling greater acceptance
