Silicon Valley fintech company Aven launches Bitcoin Visa card with a maximum credit limit of $1 million.

CoinFeed reported on April 28th that, according to The Block, Silicon Valley fintech startup Aven has launched the Aven Bitcoin Visa card, offering credit lines up to $1 million secured by Bitcoin. The card provides fixed-rate, fixed-term loans for up to 10 years, with an annual interest rate of 7.99%, significantly lower than the typical Bitcoin lending market rates of over 10% and terms of less than 12 months. The borrower's Bitcoin collateral is held in escrow by BitGo. Issued by Coastal Community Bank, a Washington state-chartered institution, the card has no annual or account opening fees and offers unlimited 2% cashback on purchases.