The fintech Aven introduced its Aven Bitcoin Visa Card to the market. This solution provides access to credit lines of up to $1 million using Bitcoin as collateral. Through the company’s official announcement, it was reported that this card introduces a first for the sector: loans with fixed rates and terms of up to 10 years, with an APR of 7.99%, eliminating the interest rate volatility that typically characterizes these types of financial products.
This launch represents an achievement for the crypto ecosystem, as conventional BTC-backed loan options usually offer maximum terms of 12 months and rates exceeding 10%. By partnering with BitGo for asset custody and Coastal Community Bank for issuance, Aven seeks to democratize access to cheap capital, allowing digital asset holders to use their wealth without needing to liquidate it, saving up to 50% in interest compared to unsecured debt.
With additional benefits such as 2% unlimited cashback and the absence of annual fees, the card positions itself as a key tool for institutional and retail adoption. The next step for the firm is to scale this “machine banking” model to optimize savings for its users globally.
Source:https://goo.su/NqCSBbE
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