Aven Launches Bitcoin-Backed Visa Card with Credit Line

Fintech startup Aven has introduced the Aven Bitcoin Visa Card, offering a unique line of credit backed by Bitcoin holdings, with limits up to $1 million. This innovative product provides fixed-rate, fixed-term loans for up to 10 years at a 7.99% APR, a significant departure from typical crypto lending terms. The card also features unlimited 2% cash back on purchases. Aven's 'machine-banking' platform aims to lower borrowing costs by leveraging assets like home equity and now Bitcoin as collateral, positioning itself as a disruptive force in asset-backed lending.