Avalanche announced the launch of a cryptocurrency card within the Visa payment system. The tool is designed for users in regions with limited access to traditional financial services.
The Avalanche Foundation plans to introduce the Avalanche Card, powered by the global Visa payment network. The cards will be issued by the Rain platform and will be available in both physical and digital formats, supporting USDC, USDT, AVAX, and Wrapped AVAX (wAVAX). Future updates will include support for additional assets.
The press release highlights the significance of the Avalanche Card in expanding financial services access. According to the World Bank, as of July 2024, 1.4 billion adults worldwide remained unbanked, with the issue being particularly severe in Latin America, Africa, and Southeast Asia.
In these regions, limited access to financial services already drove a surge in cryptocurrency adoption. Against this backdrop, the launch of the Avalanche Card is expected to significantly improve local communities’ access to secure financial solutions powered by digital assets.
Early users will be able to test the card at ETHDenver , and a waitlist is now open on the project’s official website.
Avalanche is actively working to bridge the gap between the cryptocurrency market and traditional finance. For instance, in April 2024, Ava Labs, the team behind the Avalanche blockchain, partnered with payment provider Stripe, enabling users to purchase AVAX tokens with fiat currencies directly within Web3 apps.
