[NEWS] Avalanche launches Visa cryptocurrency payment card

The Avalanche Foundation, which issues and operates Avalanche (AVAX), has partnered with Visa to release the Avalanche Card, a new cryptocurrency payment solution, on the 22nd.

At the time of release, the Avalanche Card will be available in Latin America and the Caribbean. Users can use Avalanche and other cryptocurrencies at Visa-affiliated stores in the target countries. Available cryptocurrencies include Wrapped AVAX (WAVAX), stable coins USDC, and BEBUQI Liquid Staked AVAX (sAVAX).

The Avalanche Card's official website states that "the card is associated with a self-managed wallet and a unique address for each asset." It also states that usage history will not be reported to credit bureaus. Although the Avalanche Card was introduced by the Avalanche Foundation, it is provided by financial technology service provider Rain Liquidity.

The Avalanche Card will be available in two types, a physical card and a virtual card, and it explains that seamless transactions can be made through the app.

There are also additional features for Avalanche cardholders. For example, there is an alert function that notifies cardholders when their card is involved in a transaction, and they can freeze their card themselves if they lose it or change their access pin at any time. In addition, they can receive 24/7 support if they encounter any problems or restrictions while using the card.

On the other hand, the Avalanche card is not insured by the Federal Deposit Insurance Corporation (FDIC) like other credit cards. Therefore, there is a risk of price fluctuations in cryptocurrencies.

There are no usage fees, but it is recommended that users check the various fees themselves.

Reference: Avalanche Card
Image: Shutterstock

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