Avalanche Launches Crypto Payment Card as Network Attracts Big Institutions
Following an extended period of development and testing, the Avalanche Foundation has introduced a new payment solution in partnership with Rain—a crypto card provider integrated with Visa.
Unveiled on Monday, April 21, during North America’s midday trading hours, the newly launched Avalanche Card aims to make it easier for users to spend digital assets globally.
Designed for both in-store and online purchases, the Avalanche Card initially supports AVAX, USDC, and USDT.
It’s directly tied to a user’s self-custodial wallet and notably avoids any conversion fees, positioning itself as a convenient bridge between crypto holdings and real-world payments.
Avalanche has matured into a thriving ecosystem within the Web3 landscape, with more than $1.23 billion currently locked across its decentralized applications and over $1.7 billion in circulating stablecoins.
Over the last couple of years, it has become a preferred network for institutional players exploring real-world asset tokenization.
Among the notable developments, BlackRock collaborated with Securitize to roll out the BUIDL fund on Avalanche, resulting in over half a billion dollars being tokenized. Meanwhile, Citibank has also evaluated Avalanche for various blockchain initiatives, particularly involving the tokenization of real-world assets.
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