The Avalanche Foundation has launched the Avalanche Card, a Visa-integrated payment solution allowing users to spend crypto at traditional merchants.
What is the Avalanche Card
The Avalanche Card is a crypto-powered payment card created in partnership with the liquidity provider Rain. It enables users to spend digital assets wherever Visa is accepted. Available in both physical and digital formats, the card supports AVAX, Wrapped AVAX (wAVAX), USDT, and USDC at launch. Future updates will include support for additional cryptocurrencies, including bridged Bitcoin and other tokens. Crypto funds are converted to fiat when transactions are processed, allowing for traditional payment methods to be used for common purchases.
Why the Avalanche Card Matters
Millions around the world, particularly in Latin America, Africa, and Southeast Asia, face high banking fees and limited access to financial services. The Avalanche Card offers an alternative financial solution, enabling users to bypass traditional banking restrictions. It empowers financial freedom in underbanked regions, reduces reliance on banks for cross-border payments, and integrates crypto into mainstream finance. However, regulatory restrictions mean it's not available to residents of Cuba, Venezuela, Nicaragua, Russia, North Korea, Syria, Iran, Crimea, Luhansk, and Donetsk. Initially, it's available in Latin America, the Caribbean, and 35 U.S. states.
How the Avalanche Card Works
Unlike typical prepaid crypto debit cards, the Avalanche Card operates more like a credit card. Users load the card with crypto, setting their spending limit at 50% of the USD value of their balance to account for volatility. Transactions are accumulated and settled once a day. The card allows balance freezes, dispute charges, PIN changes, and spending alerts. This delayed conversion model helps users maximize asset value and avoid selling at inopportune times due to market fluctuations.
The Avalanche Card represents a significant step toward mainstream crypto use, providing the ability to spend digital assets without the need for exchanges or DeFi platforms.
