According to Wu Blockchain, Forbes reports that Silicon Valley fintech company Aven has launched a Bitcoin-collateralized credit card. Users need to custody their Bitcoin with BitGo to access a credit line of up to $1 million for up to 10 years. The annual interest rate ranges from 7.99% to 11.99%, depending on the collateralization ratio (30%–70%). When the loan-to-value (LTV) ratio hits 70%, usage will be restricted; at 80%, additional collateral or repayment is required. Otherwise, the platform will sell a portion of the Bitcoin to reduce leverage. At 85%, collateral liquidation will be triggered, and the credit line will be closed. https://(wublock123.com)/news/aven-silicon-valley-fintech-launches-bitcoin-collateral-credit-card-1m-limit-60184