Avalanche (CRYPTO: AVAX) has launched the Avalanche Card, a crypto payment card that allows users to make purchases at any Visa-accepting location using their digital assets.
This card supports cryptocurrencies such as USDC (CRYPTO: USDC) and AVAX, enabling holders to spend their crypto as easily as traditional currency.
The card, available in both physical and virtual forms, was initially released in Latin America and the Caribbean, with plans to expand into other regions.
The Avalanche Card functions without traditional financial ties, meaning it is not linked to a bank account, and transactions do not impact the user’s credit score.
Upon signing up, users are provided with a self-custody wallet, ensuring secure and instant access to their funds. Security features include spending alerts, the ability to freeze the card, and the option to change the PIN at any time.
Avalanche’s latest move represents an important step towards making cryptocurrency a practical and mainstream payment method.
By offering the ability to use digital currencies for everyday transactions, Avalanche is helping to close the gap between crypto and traditional financial systems.
The card is initially being offered in regions like Latin America and the Caribbean, where financial inclusion and access to traditional banking services can be limited.
However, users from certain countries, including Cuba, Venezuela, Nicaragua, and Russia, are excluded from accessing the card.
In addition to consumer-focused advancements like the Avalanche Card, the company is also strengthening its blockchain infrastructure.
Through a partnership with Chainlink (CRYPTO: LINK), Avalanche is piloting an AI-powered on-chain database that utilizes decentralized Oracle technology.
This new system will offer real-time data handling across blockchain networks, enhancing transparency and efficiency for corporate actions such as mergers and dividends.
Avalanche has also been involved in a recent buyback of 1.97 million AVAX tokens from the Luna Foundation Guard for $45.5 million.
The tokens were originally sold to LFG to build reserves for TerraClassicUSD, but the settlement aims to prevent complications in LFG’s bankruptcy proceedings.
What’s Next: The growing integration of crypto into everyday life and the wider financial system will likely be discussed at the upcoming Benzinga Future of Digital Assets event on Nov. 19, where industry leaders will explore how tools like the Avalanche Card are shaping the future of digital currencies.
