🔥 Avalanche and Visa Team Up to Launch Crypto Card
posted 22 Oct 2024
On October 21, 2024, the Avalanche L1 blockchain team announced the launch of their crypto card in collaboration with Visa. This card allows users to pay for virtually any goods and services using cryptocurrencies like WAVAX (Wrapped AVAX), USDC (USD Coin), sAVAX (Staked AVAX), and several others.
The Avalanche Card will be offered by Rain Liquidity, a FinTech company that is not a traditional bank. According to the Avalanche website, the card will be issued by licensed partners within the appropriate jurisdictions.
Initially, the Avalanche Card will be available to residents of Latin America and the Caribbean. However, residents or citizens of sanctioned countries, including Cuba, Venezuela, Nicaragua, Russia, North Korea, Syria, Iran, and the temporarily occupied regions of Crimea, Luhansk, and Donetsk, will be unable to register, regardless of their actual location.
Since the card integrates with Visa’s global network, users will be able to withdraw cash from ATMs and use their digital assets for online purchases and in physical stores.
While the Avalanche Card provides an alternative payment method, it also seems to serve as a strategic branding initiative with relatively low risks and costs.
As of the time of publication, the Avalanche Card is not yet available for public sale. Users can only pre-order it by providing an email address and country of residence.
The card’s official release date remains unannounced.
Initially, the Avalanche Card will be available to residents of Latin America and the Caribbean. However, residents or citizens of sanctioned countries, including Cuba, Venezuela, Nicaragua, Russia, North Korea, Syria, Iran, and the temporarily occupied regions of Crimea, Luhansk, and Donetsk, will be unable to register, regardless of their actual location.
Why Avalanche is Launching the Avalanche Card
The introduction of the Avalanche Card is aimed at expanding the use of cryptocurrencies in everyday transactions. According to Avalanche’s presentation, users will be able to pay for a wide range of services, such as dining, vacations, and entertainment, with their crypto assets quickly and securely converted into fiat through partner gateways.
Since the card integrates with Visa’s global network, users will be able to withdraw cash from ATMs and use their digital assets for online purchases and in physical stores.
Crypto Spending with the Avalanche Card. Source: avalanchecard.com
It's important to note that in many countries across Latin America and the Caribbean, access to banking services is often limited due to geographical or infrastructural challenges. Additionally, these regions frequently experience high inflation, which affects the daily lives of citizens.
While the Avalanche Card provides an alternative payment method, it also seems to serve as a strategic branding initiative with relatively low risks and costs.
As of the time of publication, the Avalanche Card is not yet available for public sale. Users can only pre-order it by providing an email address and country of residence.
The card’s official release date remains unannounced.
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