Avalanche, a well-established public blockchain, launches a debit card, with the first step being to provide services to countries in Latin America and the Caribbean.

The well-established public blockchain Avalanche announced the official launch of the cryptocurrency debit card Avalanche Card on 10/22. While cryptocurrency debit cards are already quite common, it is uncommon for them to be introduced by the blockchain itself. However, currently, Avalanche Card is only available to users in Latin America and the Caribbean. Users from other regions can sign up on the official website to join the waitlist by providing their email.

Avalanche Card Provides Users with Secure Payment Services

Avalanche has partnered with fintech company Rain Liquidity to launch the cryptocurrency signature financial card Avalanche Card. This card can be used in all Visa-accepting consumer scenarios, although it is currently unknown whether it supports Samsung Pay and Apple Pay as reported in Alchemy Pay and Redotpay.

The Avalanche Card can achieve complete control and security through features such as setting expenditure alerts, such as exceeding a specified amount, freezing, changing the PIN code, etc.

Avalanche Reminds Users that Paying with Cryptocurrency May Involve Capital Gains Tax

When registering for the Avalanche Card, a new unique address will be obtained. Currently supporting assets on WAVAX, USDC, sAVAX, and other AVAX, Avalanche warns that it is not a bank and deposits are not protected by the FDIC (Federal Deposit Insurance Corporation).

However, Avalanche also cautions that using stablecoins like USDC for payment may not pose significant issues, but using cryptocurrencies like AVAX for deductions may raise tax concerns, similar to selling BTC which may incur capital gains tax. Therefore, this aspect needs to be discussed with tax authorities in various countries.

Currently, Avalanche Card is offered free for registration to residents of Latin America and the Caribbean. However, citizens of Cuba, Venezuela, Nicaragua, Russia, North Korea, Syria, Iran, as well as Crimea, Lugansk, and Donetsk regions cannot register.

Will the Development of Signature Financial Cards by Public Chains Empower Ecosystems and Bring Brand Transformation?

In fact, Avalanche's payment card has been experimented with for some time. The author heard about Avalanche experimenting in Vietnam during offline events with blockchain payment merchants earlier this year, mentioning high-performance public chains like Arbitrum. The author believes that launching financial cards from public chains is different from other brands, such as exchanges, as it can better integrate assets within the ecosystem and empower assets. Imagine AVAX tokens being used as payment assets, although speculative in nature, it is enough to bring about wealth effects.

Furthermore, this also signifies the resurgence of infrastructure, not only providing services but also creating their own brand to a greater extent. This is also why some people are skeptical of traditional public chains, as many of them are focused on technological development and neglect marketing.