The Avalanche Foundation has teamed up with Visa to launch a new product focused on crypto spending.
In a recent announcement, the Avalanche Foundation unveils the Avalanche Card, which enables users to make purchases with crypto at locations that accept Visa.
“We are thrilled to introduce the Avalanche Card!
Use your WAVAX, USDC, sAVAX, and more wherever Visa is accepted.
Experience both physical and virtual cards, around-the-clock dedicated support, and hassle-free transactions via popular apps.“
The card will support Wrapped AVAX (WAVAX), Circle’s stablecoin USDC, and BENQI Liquid Staked AVAX (sAVAX), among other cryptocurrencies, in both physical and digital formats.
Each user will have a unique wallet address linked to their card, allowing them to maintain custody of their assets, while benefiting from Visa’s customer support and enhanced security through self-custody.
The card has already launched in Latin America and the Caribbean, with expansion plans in the works and a waitlist currently available.
Recently, the Visa executive overseeing the company’s crypto division mentioned that the firm is exploring a future with various types of blockchain technologies.
Cuy Sheffield compared the current state of crypto to the internet’s early history, suggesting that cryptocurrency is experiencing its “broadband moment” as it establishes its relevance and matures as a technology.
“Current blockchains echo some characteristics of the early internet — especially the skepticism, doubts, and criticisms they face. It’s hard not to be reminded of past self-assurances when analysts declare, ‘blockchains are too slow! Too difficult to navigate! Too costly!’ or ‘they lack any real applications!’
No doubt, blockchains have had those challenges, and while some applications are more evident than others, the early internet faced its own set of hurdles — now, it offers rapid streaming of live videos from space, is often free, and is user-friendly for even a child.
At Visa, we have been leaders in payment technology for over sixty years. We recognized the internet’s potential in its infancy and played a crucial role in facilitating its growth and supporting emerging commerce. Today, we believe in the vast potential of blockchain networks — and the many futures they might create.”
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