Avalanche Card Launches, Broadening Everyday Crypto Use in Regions with Banking Challenges

Avalanche

The Avalanche Foundation, in partnership with Rain, today announces the launch of the Avalanche Card, a revolutionary tool that enables users to use their crypto seamlessly anywhere Visa is accepted.

As many regions face unstable access to mainstream financial tools, the Avalanche Card provides a secure, alternative solution in emerging markets, empowering users to transact without relying on traditional banks. Available as both a physical and digital card, the card now brings the full power of crypto usage to millions of people worldwide with a single tap or swipe.

Empowering Financial Freedom with Crypto

For millions in LATAM and other underbanked regions globally, accessing traditional financial services can be challenging due to high fees, inflation, and limited infrastructure. The Avalanche Card lowers these barriers by providing users with an easier way to directly convert and use digital assets.

“With the Avalanche Card, your cryptocurrency becomes a tool for empowerment,” says John Wu, President of Ava Labs. “As digital assets gain mainstream adoption, it’s critical to showcase real-world use cases that feel as familiar as swiping a credit card.”

Through its integration with Visa’s trusted global network, users can now pay for groceries, transportation, online shopping, and even utility bills, as applicable—just like any traditional credit card, but with crypto.

Bridging the Gap Between Decentralized Finance and Real World Usage

The Avalanche Card supports Avalanche-native USDC, USDT, AVAX, and Wrapped AVAX (wAVAX) at launch, with plans to expand to more assets in the future. Built on Rain’s advanced infrastructure, the card seamlessly bridges the gap between decentralized finance (DeFi) and real-world utility, unlocking new use cases for crypto holders.

Avalanche Card’s Impact in Emerging Markets

The World Bank estimates that as of July 2024, 1.4 billion adults worldwide remain unbanked, lacking access to essential financial services. This financial exclusion is particularly evident in Latin America, Nigeria, and Southeast Asia, where traditional banking barriers continue to limit economic opportunities.

In Latin America, as of 2023, 70% of the population remains unbanked due to high interest rates and limited access to dollar-based savings. With double-digit interest rates, persistent inflation, and frequent currency devaluation, many in the region are turning to digital assets as a more stable store of value, fueling a 40% growth in crypto adoption.

In Nigeria, which ranks as the second highest country for cryptocurrency adoption globally as of June 2024, banking limitations, currency instability, and restrictions on foreign exchange access have led millions to rely on crypto for daily transactions and wealth preservation. Digital assets offer an alternative to traditional finance, bypassing the inefficiencies of cash-based economies.

Meanwhile, in Southeast Asia, where the economy has rapidly evolved over the past decade, six in ten people remain underbanked or unbanked as of February 2022. Limited access to financial services prevents millions from participating fully in the digital economy, making crypto-powered solutions like the Avalanche Card can be a crucial tool for financial inclusion.

By potentially eliminating the need for an intermediary, the Avalanche Card provides a viable alternative for millions in regions that account for a significant share of global crypto activity, helping individuals gain access to secure, borderless financial solutions.

Availability & ETHDenver Activation

To celebrate the launch, Avalanche will activate the Avalanche Card at ETHDenver, allowing early adopters to experience its capabilities firsthand. ETHDenver attendees will be among the first to sign up and receive a physical card.

The Avalanche Card is now open for sign-ups. Users can join the waitlist today to be among the first to experience a new era of crypto-powered financial access.

➡️ Sign up here: https://www.avalanchecard.com

Neither Avalanche, the Avalanche card or any cryptocurrency is FDIC insured. Cryptocurrency is volatile and its value will vary. This is an ad and not solicitation for investment. Avalanche is not responsible for any losses of any kind. Use your discretion and read the card term and conditions.

About Rain

Rain develops and operates cutting edge digital asset authorization and settlement infrastructure in concert with their innovative digital payment card solutions. By integrating blockchain technology with traditional financial systems to drive adoption and utility for digital assets in enterprise and consumer use cases. For more information, visit www.raincards.xyz.

About The Avalanche Foundation

The Avalanche Foundation is a non-profit entity that fosters the advancement and growth of the Avalanche platform for the world. The Foundation offers development programs for developers, entrepreneurs, and users to help turbocharge the advancement of the Avalanche ecosystem. For more information, visit avax.network

About Avalanche Blockchain Network

Avalanche is an ultra-fast, low-latency blockchain platform designed for builders who need high performance at scale. The network’s architecture allows for the creation of sovereign, efficient and fully interoperable public and private layer 1 (L1) blockchains which leverage the Avalanche Consensus Mechanism to achieve high throughput and near-instant transaction finality. The ease and speed of launching a L1, and the breadth of architectural customization choices, make Avalanche the perfect environment for a composable multi-chain future.

Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building the next generation of decentralized applications (dApps). With its unique blend of speed, flexibility, and scalability, Avalanche is the preferred choice for innovators pushing the boundaries of blockchain technology.