Key Highlights:
- Aven introduces a Bitcoin-backed Visa credit card
- Users can access up to $1 million in credit
- Loans have fixed rates and longer terms
- BTC is used as collateral through custody partners
Bitcoin Meets Consumer Credit
Aven has launched a new credit card that allows users to borrow against their Bitcoin holdings.
The card offers credit lines of up to $1 million, using BTC as collateral.
More Flexible Loan Terms
Unlike many crypto-backed loans, Aven offers fixed rates and longer repayment periods, up to 10 years.
The interest rate starts at 7.99%, which is lower than many existing crypto lending options.
How It Works
Users deposit their Bitcoin with a custody provider and can then access credit without selling their assets.
The card also includes standard features like cashback rewards on purchases.
Growing Trend in Crypto Finance
The product reflects a broader trend where crypto assets are increasingly used as collateral in traditional financial services.
