What is Avici?
Avici is a Solana-based neobank and payments platform designed to make stablecoins easier to use in everyday life. It uses blockchain payments to offer familiar financial services, so that users can store, transfer, and spend digital dollars without hopping between apps and multiple DeFi tools.
How Avici Money Works
You can access Avici through its mobile app on the Apple App Store and the Google Play Store. Set your profile up using an email account. Avici supports biometric features such as Face ID and Fingerprint to enable multiple authentication systems for assets. Creating an Avici account here and complete the required identity verification to get started.
After setting up your account on the app, deposit into the address created with your account (it is non-custodial and attached to your email). You can transfer funds to other users or wallets using the withdraw option. Avici helps generate virtual cards that connect stablecoin balances with conventional card payment infrastructure so that its users can spend their funds at supported merchants and businesses that do not accept cryptocurrency directly.
Earning Yield on Avici
In addition to its card-spending features, Avici offers a yield-bearing solution for deposited assets. Users who want to earn returns on their cryptocurrency holdings can use this option instead of leaving their tokens idle in their wallets.
In the screenshots below, I selected JupUSD, Jupiter’s native stablecoin. The token is backed by Ethena’s USDtb stablecoin, which is issued by Anchorage Digital Bank and backed by BlackRock’s BUIDL Fund. Its yield is generated from the underlying reserves through Jupiter Lend rather than simply by holding JupUSD. Other supported assets also have their own yield sources.
Buying Assets on Avici
Avici can also be used to purchase commodities, stocks such as NVDA, and pre-stock assets on-chain using crypto held in your account.
By selecting an asset, users can view additional information, including its contract address, to verify that the token is legitimate.
Who Is Avici Money For?
Avici may appeal to stablecoin holders, remote workers, and Solana users who need practical payment services, faster international transfers or access to dollar-based accounts.
Risks and Limitations of Avici
Using Avici may involve stablecoin, blockchain, custody, regulatory, and third-party provider risks. Stablecoins can lose their intended peg, while payment cards may be restricted by location or partner policies. Transactions may also be irreversible, and funds may not receive the same protection as deposits held in an insured bank account.
Conclusion
Avici aims to make stablecoins more practical by combining Solana’s payment infrastructure with what financial services have to offer. It allows users to hold, transfer, and spend digital dollars through its application and card offering. It also includes a feature that enables its users to earn yields across the top DeFi protocols on Solana.
