Aven unveils Bitcoin Visa Card with $1M credit line

Aven’s Bitcoin Visa Card offers up to $1M in bitcoin-backed credit, 10-year terms, 7.99% APR, 2% cash back, and no annual fees. Users borrow against bitcoin, with collateral held by BitGo.

Aven has introduced the Bitcoin Visa Card, a credit card backed by bitcoin collateral with credit lines up to $1 million. This card enables users to borrow against their bitcoin holdings without needing to sell, offering both revolving credit and fixed-term loans with repayment periods of up to 10 years. The card features an annual percentage rate starting at 7.99%, which is lower than typical rates in the bitcoin-backed lending market. Borrowers’ bitcoin collateral is securely held by BitGo, and the card is issued by Coastal Community Bank under the Visa network. Aven’s Bitcoin Visa Card comes with no annual or origination fees and provides 2% cash back on purchases. By bridging crypto assets with traditional credit, Aven allows users to access liquidity and spend their digital assets without triggering taxable events from asset sales.