Aven Launches Bitcoin-Backed Credit Card, Built on BitGo’s Infrastructure
The Aven Bitcoin Visa Card provides consumers with access to credit unlocked by the amount of their bitcoin holdings, without the need to sell their bitcoin. BitGo’s technology infrastructure enables a per-borrower custody model in which each borrower’s bitcoin collateral is held in a dedicated wallet, designed to support collateral segregation and operational controls for secure collateral management.
“Aven is bringing a compelling use case to market by connecting bitcoin ownership with everyday access to credit,” said
“Millions of people now hold bitcoin as a long-term investment. However, unlike a home, stock portfolio or savings account, it can be difficult to use bitcoin productively,” said Sisun Lee, chief of crypto at Aven. “The Aven Bitcoin Visa Card provides long-term bitcoin holders another option, and BitGo’s technology helps give bitcoin holders some peace of mind that our product is secure and compliant.”
The launch underscores growing demand for financial products that extend the utility of digital assets beyond trading and long-term holding. By combining card-based credit access with bitcoin-backed collateral and institutional-grade digital asset custody,
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Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the highly volatile nature of digital assets, technical issues in connection with the integration of supported digital assets and changes and upgrades to their underlying network, heightened scrutiny of our industry and operations, the theft, loss, or destruction of private keys required to access any digital assets held in custody for our own account or for our clients, errors in executing client transactions or managing our own trading activities, and the other factors discussed in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on
About Aven
Aven’s mission is to cut the cost of capital for consumers by helping them unlock the value of their existing assets. The company is building America’s first machine-banking platform to help cut interest rates by up to 50%. Founded in 2019, Aven has helped Americans build wealth by saving them more than
Learn more about the Aven Bitcoin Visa Card or apply at aven.com/bitcoin-visa-card.
Aven Visa credit cards are issued by
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