The Avalanche Foundation, the non-profit behind the Avalanche blockchain platform, has unveiled a Visa card that allows holders to spend cryptocurrency.
Avalanche's new Visa card will support stablecoin Circle USD Coin (USDC), Wrapped AVAX (WAVAX), BENQI Liquid Staked AVAX (sAVAX) and other assets.
The Avalanche card will be available in both physical and virtual forms, giving users the ability to spend their cryptocurrencies “anywhere Visa is accepted,” the foundation said. The Avalanche Card will be linked to a “self-custody wallet with a unique address for each asset.”
For now, the Avalanche Card will only be available to residents of Latin America and the Caribbean.
Residents or citizens of Cuba, Venezuela, Nicaragua, Russia, North Korea, Syria, Iran, as well as the regions of Crimea, Lugansk and Donetsk do not have the right to register regardless of their place of residence, the Avalanche website notes.
The card description also states that all Avalanche Card transactions will be free. However, there is a whole list of services for which cardholders will have to pay a fee.
