Avalanche Foundation and Rain launch crypto-based Visa card

The Avalanche Foundation, collaborating with Rain, introduced the Avalanche Card, a physical and digital credit card, on Wednesday.

The card enables users to make purchases using their crypto assets wherever Visa is accepted.

The Avalanche Card supports USDC (CRYPTO:USDC), USDT (CRYPTO:USDT), Avalanche (CRYPTO:AVAX), and Wrapped Avalanche (CRYPTO:WAVAX) at its launch and plans to expand to include more assets in the future.

It is designed to bridge the gap between decentralised finance (DeFi) and real-world utility.

"With the Avalanche Card, your cryptocurrency becomes a tool for empowerment," stated John Wu, President of Ava Labs.

"As digital assets garner mainstream adoption, leading with uses that are as familiar as swiping a credit card," he added.

The Avalanche Card will be activated at the ETHDenver event, targeting regions including Southeast Asia, Africa, and Latin America.

These regions often face challenges such as unstable financial systems and limited access to banking.

The card allows users to spend their cryptocurrency at any merchant accepting Visa.

This includes payments for groceries, transportation, online shopping, and utility bills.

The Avalanche Card offers a secure alternative in regions with strained banking infrastructure, facilitating real-world transactions across borders without the need for conversion.

It aims to provide accessible inroads to blockchain for all types of users.

According to the card’s website, it will be linked to users' "new self-custody wallet and unique address per asset."

The launch of the Avalanche Card represents a step towards integrating traditional financial technologies with cryptocurrency, simplifying cryptocurrency transactions across three continents.

At the time of reporting, the Avalanche (AVAX) price was $22.80.