Bitcoin backed credit card offers 7.99% rate

Aven, a Silicon Valley fintech, is launching a Bitcoin-backed credit card with interest rates ranging from 7.99% to 11.99%, offering credit lines up to $1 million over 10 years. The card requires overcollateralization with Bitcoin, and rates vary based on the collateral percentage pledged. Competitors like Ledn, Salt Lending, and Arch also offer similar crypto-backed loans with varying terms.