The Avalanche Foundation, the nonprofit organization behind the Avalanche blockchain platform, has introduced a new Visa cryptocurrency card called the Avalanche Card. The card allows users to spend cryptocurrencies like Circle’s USD Coin (USDC), Wrapped AVAX (wAVAX), BENQI Liquid Staked AVAX (sAVAX), and others. It will be available in both physical and virtual forms, enabling users to spend their crypto assets at any location where Visa is accepted.
The Avalanche Foundation, in collaboration with Rain Liquidity, is behind the launch of the Avalanche Card. Rain Liquidity is a financial technology provider, but neither the card nor Rain Liquidity is insured by the Federal Deposit Insurance Corporation (FDIC), and they are not traditional banks.
The launch of the Avalanche Card was announced on October 21, 2024, through Avalanche’s official X (formerly Twitter) account. The card is expected to roll out to users in selected regions soon after the announcement.
The Avalanche Card will initially be available to residents of countries in Latin America and the Caribbean. However, citizens and residents of certain countries and regions—including Cuba, Venezuela, Russia, North Korea, and parts of Ukraine—are not eligible to sign up for the card, according to the card’s website.
The Avalanche Foundation’s goal with the Visa card is to make it easier for users to spend their cryptocurrency in the real world, directly from self-custody wallets. By linking the card to a self-custody wallet and providing a unique address per asset, the foundation offers a way to use cryptocurrencies like traditional money without reporting user activity to credit bureaus.
The Avalanche Card allows users to spend cryptocurrencies at any retailer that accepts Visa. The card is not subject to spending fees, but users are encouraged to review the full list of service fees in the card’s terms. This follows a broader trend of introducing crypto payment cards, similar to Tangem’s Visa card, which lets users spend directly from self-custodial wallets.
