The Avalanche Foundation launched a Visa credit card linked to a cryptocurrency wallet supporting USDC and wrapped AVAX. The new crypto card will allow digital assets to be used for everyday purchases.
The Avalanche Foundation, a non-profit behind the Avalanche blockchain, announced the launch of a Visa crypto card. The Avalanche Card will let users spend crypto on everyday needs.
The card will support USDC, Wrapped AVAX (wAVAX), BENQI Liquid Staked AVAX (sAVAX), and other tokens. Users will be able to use both the physical and virtual card at any merchant that accepts Visa.
The key feature is that it’s linked to a non-custodial crypto wallet, giving users full control over their assets. According to the website, users’ transaction information won’t be shared with credit bureaus since the Avalanche Card is issued by Rain Liquidity, which isn’t a bank. Moreover, it doesn’t hold assets and isn’t required to report to the Federal Deposit Insurance Corporation (FDIC).
The card will initially be available in Latin America and the Caribbean, but access will be restricted to residents of Cuba, Venezuela, Russia, and several other countries and regions.
DEX aggregator 1inch Network, Singapore’s FinTech company SafePal, financial services provider Immersve, crypto platform BitOasis, Australian developer of a crypto wallet for stablecoins Stables, and many others already released their cryptocurrency cards.
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