BitGo (BTGO) announced a partnership with Aven 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. 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.
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