Avalanche has announced the launch of the Avalanche Visa Card, allowing users to spend their AVAX, USDT, USDC, wAVAX, and sAVAX tokens at over 150 million merchants worldwide.
The initiative, developed in collaboration with Rain, a blockchain-based card issuing platform, primarily targets users in Latin America and the Caribbean, with growing adoption in Southeast Asia and Africa.
Bringing Crypto to Everyday Transactions
The new card enables cryptocurrency holders to make both online and in-person purchases using their digital assets. Unlike a traditional debit card, the Avalanche Visa Card functions as a credit card and does not have FDIC insurance.
Upon signing up, users receive a self-custody wallet along with unique addresses for each supported asset. This setup ensures that users maintain control over their crypto funds while having the flexibility to use them seamlessly at Visa-accepting merchants. The card is available in both digital and physical formats, making it convenient for different transaction needs.
While the primary focus is on Latin America and the Caribbean, the card has also seen increased sign-ups in Southeast Asia and Africa. These regions have shown high demand for crypto-based financial solutions due to economic conditions and limited access to traditional banking services.