The Avalanche Foundation launched the Avalanche Card, a Visa-powered payment card allowing users to spend crypto at traditional stores, bridging the gap between decentralized finance and everyday transactions.
What is the Avalanche Card
The Avalanche Card is a crypto-powered payment card created in collaboration with liquidity provider Rain. It enables users to spend digital assets anywhere Visa is accepted. At launch, it supports AVAX, Wrapped AVAX (wAVAX), USDT, and USDC. Funds are converted to fiat when transactions are processed. The card is available as both physical and digital versions and offers features like spending alerts and freeze options.
Why the Avalanche Card Matters
Millions of people, especially in Latin America, Africa, and Southeast Asia, face high banking fees and limited access to financial services. The Avalanche Card provides an alternative financial solution, enabling users to bypass traditional banking constraints. It supports financial freedom in underserved regions and facilitates integration of crypto into mainstream finance.
How the Avalanche Card Works
Unlike typical prepaid crypto debit cards, the Avalanche Card functions more like a credit card. Users load the card with crypto, setting a spending limit at 50% of the USD value of their balance. Crypto conversion occurs with a delay—transactions accumulate and are settled once a day. This maximizes the value of assets, preventing sales at inappropriate times due to market volatility.
The Avalanche Card represents a significant step in making cryptocurrencies part of everyday transactions, simplifying payments for goods and services and reducing reliance on traditional financial institutions.
