#740: Hard Asset Lending For The 99% with Sadi Khan

AVEN launches a Bitcoin‑backed credit card and shows how tech, compliance, and AI agents cut consumer capital costs and operational risk.

Key Takeaways

AVEN launched a Bitcoin‑collateralized credit card: keep BTC in BitGo custody, up to $1M line, 7.99% APR at 30% LTV, ten‑year fixed, five‑year interest‑only, 2% cashback.
Leverages home‑equity lending and capital‑markets expertise to reduce transaction costs and offer lower consumer rates; goal is to be best at launch and lowest globally.
Built compliant infrastructure: KYC, soft credit pulls, income/ability‑to‑pay checks, state examinations, no rehypothecation, and rapid collateral liquidation via custody partners.
Operational efficiency drives price: originations and servicing automation (not looser underwriting) lower capital costs; machine agents boosted human agent quality and throughput.
Practical AI approach: assign models distinct 'scribe' tasks, decompose problems, use short precise prompts, pick models by strength (Gemini for web, Claude for code), and favor precision over recall.
Philosophy: Bitcoin as a trust‑minimized store of value enabling borrowing without selling; mission is to reduce consumers' cost of capital and expand to other assets.