Overview
- Aven launched the Bitcoin Visa Card on Monday, offering a credit line secured by a customer's bitcoin that can reach $1 million.
- Borrowers pledge bitcoin that BitGo custodies, and Coastal Community Bank issues the card on Visa’s network to turn that collateral into spendable credit.
- The financing starts at a fixed 7.99% APR with repayment terms up to 10 years, and the product includes a revolving line and optional interest-only periods up to five years.
- The card has no annual or origination fees and pays 2% cash back on purchases, which can trim the effective cost for users who keep spending on the card.
- Aven contrasts its offer with typical crypto loans that it says charge 10% or more with roughly one-year terms, letting long-term holders access cash without selling and potentially avoiding taxable sales.