Avalanche Unveils New Visa Card Allowing Users to Spend WAVAX and USDC Globally

• Avalanche introduces the Avalanche Card, enabling users to spend crypto like WAVAX and USDC with physical and virtual card options.
• The Avalanche Card is available in Latin America and the Caribbean, supporting major cryptocurrencies like WAVAX and sAVAX.
• Rain Liquidity powers the Avalanche Card, which offers a self-custody wallet for secure cryptocurrency payments worldwide.

The Avalanche Foundation, a nonprofit behind the Avalanche blockchain, has launched a Visa cryptocurrency card. This new product, known as the Avalanche Card, enables users to spend their crypto assets, including Wrapped AVAX (WAVAX), USD Coin (USDC), and BENQI Liquid Staked AVAX (sAVAX), wherever Visa cards are accepted. 

With both physical and virtual options, the card offers a user-friendly solution for cryptocurrency transactions. Importantly, the card is available to residents of Latin America and the Caribbean, with restrictions for certain countries.

Physical and Virtual Card Options Available

The Avalanche Card, issued through Rain Liquidity, a financial technology services provider, is designed to enhance the ease of spending cryptocurrencies. Users can choose between a physical or virtual card depending on their preference, making it more flexible for different types of purchases. 

Transactions can be completed through various apps, ensuring seamless integration with existing payment platforms. Notably, the card is linked to a self-custody wallet, offering unique addresses for each supported asset.

While the card offers users greater control over their finances, the Avalanche Card’s description clarifies that the card issuer and Rain Liquidity are not banks. The card is not insured by the Federal Deposit Insurance Corporation (FDIC), and as with all cryptocurrency holdings, assets may lose value. The card’s website also mentions that user activity will not be reported to credit bureaus.

Availability and Regional Restrictions

Although the Avalanche Card is initially available only to residents of Latin America and the Caribbean, its launch has the potential to extend beyond these regions. However, citizens or residents of Cuba, Venezuela, Nicaragua, Russia, North Korea, Syria, Iran, and specific regions like Crimea, Luhansk, and Donetsk are prohibited from signing up for the card. This launch demonstrates Avalanche’s effort to expand cryptocurrency accessibility globally.

No Spending Fees and Supported Cryptocurrencies

Users of the Avalanche Card can spend their cryptocurrencies without any spending fees, according to the card’s terms. However, additional fees may apply based on the full list of terms and services. 

In addition to WAVAX, USDC, and sAVAX, the card supports other assets, though specific details remain limited. This move follows the rising trend of integrating cryptocurrency into mainstream financial systems, further bridging the gap between traditional payment methods and digital currencies.