The Avalanche Foundation has announced the launch of the Avalanche Card, a new Visa cryptocurrency card designed to facilitate crypto spending globally. Unveiled on X (formerly Twitter) on Oct. 21, the card supports a self-custody wallet with a unique address per asset, providing a secure and flexible way to manage digital currencies directly.
The Avalanche Card will support Circle’s USD Coin (USDC), Wrapped AVAX (wAVAX), BENQI Liquid Staked AVAX (sAVAX), and additional assets. Available in both physical and virtual formats, the card enables users to spend crypto wherever Visa is accepted, expanding its accessibility across the Latin America and Caribbean regions at launch.
The Avalanche Foundation clarified that the card, issued through Rain Liquidity, a fintech provider, is not insured by the Federal Deposit Insurance Corporation (FDIC) and does not report to credit bureaus. While it isn’t classified as a bank, the card allows users to transact without spending fees, with additional fee information detailed in the card’s terms and conditions.
Featured image from: cointelegraph.com