Ever since cards were introduced as an alternative to carrying money around, the world has not gone back. From Debit cards to Credit Cards to gift cards, the world has not gotten enough cards, and financial businesses have especially leveraged the use of cards to make life easier for their customers. While some might say that The Avalanche Foundations is late to the party with its new card announcement, it is certainly better late than never.

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The Avalanche Foundation, the nonprofit behind the renowned crypto and blockchain platform Avalanche, has announced the release of its new Visa cryptocurrency card. The nonprofit announced via X on October 21, 2024, that its users can now spend crypto with the latest Visa card.

As announced, the Avalanche card will be made available both as physical cards and virtual cards, and users will be able to enjoy their cards with 24/7 dedicated support wherever Visa is accepted. 

The “Avalanche Card,” as it is called, will support Circle’s USDC stablecoin, Wrapped AVAX (wAVAX), BENQI Liquid Staked AVAX (sAVAX), and others. The Avalanche Card’s website also stated that the new card will be linked to a “self-custody wallet and unique address per asset.”

As far as decentralization and privacy are concerned, the card also seems to have that covered somehow. The card’s description notes say user activity is “not reported to the credit bureaus.”

While the Avalanche card was introduced by The Avalanche Foundation itself, the card’s website seems to suggest that the Avalanche Card is offered by Rain Liquidity, a company that provides financial technology services. However, the card’s details also explicitly disclosed that neither the Avalanche card nor Rain Liquidity is a bank and the Federal Deposit Insurance Corporation insures neither of them.

Still, regarding disclosures, the Avalanche Foundation also made sure to disclose that “The Avalanche card is issued by partners licensed in their respective jurisdictions,” adding that “Cryptocurrency is not legal tender and may lose value.” Also, according to the website, there will be no spending fee as far as the Avalanche Card is concerned. 

As of this writing, the Avalanche card is only initially planned to be available to residents of Latin American and Caribbean countries. According to the website, residents or citizens of “Cuba, Venezuela, Nicaragua, Russia, North Korea, Syria, Iran, along with the regions of Crimea, Luhansk and Donetsk” will not be eligible to sign up for the card regardless of where they reside. 

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