Aven Launches Bitcoin-Backed Credit Card, Built on BitGo’s Infrastructure

BitGo Inc., the digital asset infrastructure company, and BitGo Bank & Trust, N.A., an OCC-regulated digital asset bank, (together “BitGo”) both subsidiaries of BitGo Holdings, Inc. , announced a partnership with Aven, a leading machine-banking platform and provider of asset-backed credit cards, to support the launch of the Aven Bitcoin Visa Card. The card enables eligible consumers to access a line of credit secured by bitcoin collateral. Under the partnership, BitGo serves as the infrastructure provider for the deposited bitcoin collateral and provides wallet and related operational infrastructure supporting the product.

Read More on Fintech : Global Fintech Interview with Baran Ozkan, co-founder & CEO of Flagright

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 Mike Belshe, CEO and Co-founder of BitGo. “This is the kind of real-world financial utility that can help drive broader adoption of digital assets. BitGo is proud to provide the custody and infrastructure that helps make products like this scale securely.”

“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, BitGo and Aven seek to advance the integration of digital-asset-enabled financial products within mainstream finance.

Catch more Fintech Insights : Real-Time Payments and the Redefinition Of Global Liquidity

[To share your insights with us, please write to psen@itechseries.com ]

The post Aven Launches Bitcoin-Backed Credit Card, Built on BitGo’s Infrastructure appeared first on GlobalFinTechSeries.