Silicon Valley fintech company Aven has introduced a new credit card backed by Bitcoin, offering users a credit limit of up to $1 million for a maximum term of 10 years. To access this credit, users must deposit their Bitcoin with BitGo. The annual interest rate ranges from 7.99% to 11.99%, depending on the collateralization rate, which varies between 30% and 70%. The card imposes restrictions when the loan-to-value (LTV) ratio reaches 70%, requiring additional collateral or repayment at 80% to avoid automatic Bitcoin sales to reduce leverage. If the LTV hits 85%, the platform will liquidate the collateral assets and close the credit line.