Avalanche Foundation Launches Crypto Visa Card for Online and In-Store Use
The Avalanche Foundation has launched the Avalanche Card, a crypto-powered Visa card accepted worldwide for online and in-store payments. Key details include:
- Collaboration with Rain, a blockchain credit card issuer
- Supports payments using cryptocurrencies such as AVAX, Wrapped AVAX, USDT, and USDC
- Initial rollout targets Latin America and the Caribbean, regions with growing cryptocurrency adoption
- Latin America is the seventh-largest crypto economy, comprising 7.3% of the global market
- Card not available to residents from specified countries including Cuba and Venezuela
- Spending USDC does not incur tax obligations; users advised to consult tax professionals regarding other cryptocurrencies
Avalanche is among several blockchains introducing credit cards, following Ether.fi's launch of its Visa card and centralized exchanges like Crypto.com entering the Latin American market.