Key Takeaways:
Aven Bitcoin Visa Card offers BTC-backed credit lines up to $1 million without selling bitcoin. Aven card rates start at 7.99% APR, with no annual or origination fees. Bitcoin collateral sits with Bitgo, while Coastal Community Bank issues the Visa credit card. Aven Bitcoin Visa Card Expands BTC-Backed Credit Access Bitgo Collateral and Coastal Community Bank Shape Borrowing StructureThe broader platform is built to lower borrowing costs by helping users access value from existing assets. The company reports more than $3 billion funded to customers, more than $215 million in cumulative interest savings, and over $400 million in equity raised. Its advisory board includes Kevin Warsh, a former Federal Reserve governor and current Fed chair nominee; Jim Messina, a former White House deputy chief of staff; and Patrick McHenry, former chairman of the U.S. House Financial Services Committee. Other advisors include Michael DeVito, former CEO of Freddie Mac, and Timothy Mayopoulos, former CEO of Fannie Mae and Silicon Valley Bridge Bank.
