Aven Launches Bitcoin-Backed Visa Card Offering Up to $1 Million Credit Lines Without Asset Sales

Aven has launched a Bitcoin-backed Visa card that provides users with credit lines of up to $1 million, secured by their Bitcoin holdings. This innovative product allows individuals to access liquidity without having to sell their digital assets, thereby avoiding potential taxable events. The card offers both revolving credit and fixed-term loan options, with repayment periods extending up to 10 years and interest rates starting at 7.99% APR. Aven's offering is notable for its longer repayment terms compared to the industry standard of one year. The custody of the pledged Bitcoin is handled by BitGo Inc. and BitGo Bank & Trust, while Coastal Community Bank manages card issuance under a Visa license. The card features no annual or origination fees and provides 2% cash back on purchases, positioning itself as a bridge between crypto assets and traditional credit access. This development signifies a growing integration of digital assets into mainstream financial services, addressing the need for regulated products that manage risk and compliance.

(Source：Bitcoin Magazine)