The Avalanche Card offers both physical and virtual options, providing users with the flexibility to spend cryptocurrencies such as wrapped avalanche (WAVAX), usd coin (USDC), and staked avalanche SAVAX at any merchant that accepts Visa. Users will also receive a self-custody wallet with unique addresses for each crypto asset. The card operates as a credit or bank card but does not report activity to credit bureaus. The terms and conditions agreement says it is not FDIC insured, as cryptocurrencies are not considered legal tender.
The card will be available to residents of countries in Latin America and the Caribbean, with some exceptions. Citizens of sanctioned nations, including Cuba, Venezuela, and North Korea, as well as individuals from regions like Crimea and Donetsk, are not eligible to apply. The release says Avalanche Card users are advised to consult with tax professionals, as spending against certain assets, such as USDC, may not have tax implications, while other crypto transactions could be taxable.
Avalanche Card is issued by Rain Liquidity, a financial technology company, and powered by Rain. The company emphasizes that neither it nor Avalanche acts as an asset custodian; users retain ownership of their assets via a self-custody solution. The card does not charge fees for spending, but a full list of card and service fees is available through the card’s terms and conditions.
With the launch of the Avalanche Card, the project is attempting to strategically position itself in the growing intersection of cryptocurrency utility and traditional financial services. By enabling users in Latin America and the Caribbean to directly spend their crypto holdings through a familiar Visa-enabled platform, Avalanche believes it not only simplifies digital transactions but also potentially enhances the adoption and practical usage of cryptocurrencies in everyday commerce.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
