The Avalanche Foundation, the non-profit organization propelling the widely-known cryptocurrency and blockchain platform, Avalanche, has unveiled a Visa cryptocurrency card. This exciting new offering, named the Avalanche Card, is a Visa card that empowers users to utilize their cryptocurrency.
The intriguing aspect of the Avalanche card is its full support for Circle’s USD Coin, an advantageous feature revealed in the card’s instructions. Available both physically and virtually, it allows users to employ their crypto at any location accepting Visa.
What sets the Avalanche Card apart is its connection to a “self-custody wallet and unique address per asset”. This means user activity will not be documented by credit bureaus. Although overseen by the Avalanche Foundation, this dynamic card service is delivered by Rain Liquidity, a master in fintech services.
A crucial point to be aware of is Avalanche Card and Rain Liquidity do not function as banks and hence do not lie under the protection of the Federal Deposit Insurance Corporation. They warn, the “Avalanche card is issued by partners licensed in their respective jurisdictions and cryptocurrency is not legal tender and may lose value.”
In its initial phase, people living in Latin America and the Caribbean can access the Avalanche Card. Inhabitants of Cuba, Venezuela, Nicaragua, Russia, North Korea, Syria, Iran, Crimea, Luhansk, and Donetsk are excluded from the service, regardless of their current residential place. Unlike many similar services, there is no transaction fee with the Avalanche Card, but users are advised to check the detailed fee list included in the card’s terms.