Avici is a distributed internet banking infrastructure project built on the Solana blockchain. It aims to create a financial ecosystem that bridges cryptocurrency and traditional fiat systems, with the long-term goal of fulfilling Bitcoin's original promise as a peer-to-peer electronic cash system. The project's core components include the Avici DAO for governance, and its primary product is a self-custodial crypto debit card offered through its Avici.money platform. ^{[1] [2]}​

Overview

Avici was founded on the premise that for cryptocurrency to achieve mass adoption, it requires a robust banking and credit infrastructure that is currently absent from the decentralized finance (DeFi) landscape. The project's mission is to build the necessary applications and tools to allow users to replace traditional bank accounts entirely. Its slogan, "Distributed internet banking," reflects this ambition to create a system where users can spend, save, earn, and borrow on-chain while maintaining self-custody of their assets. ^{[1] [3]}​

The project identifies several key challenges hindering the widespread use of digital assets for daily transactions. Despite Bitcoin's significant market capitalization, its use as a medium of exchange remains limited. The project's documentation cites the low merchant adoption rate in El Salvador, where only 14–20% of businesses accept Bitcoin despite its status as legal tender, as evidence of this gap.

Furthermore, Avici points to the limitations of stablecoins, which, while growing, have a monthly active user base comparable to a single neobank, indicating early-stage adoption. A central problem Avici aims to solve is the lack of onchain credit systems, which forces crypto-native users to rely on traditional banks to build credit scores for major life purchases like home or business loans. ^[1]​

To address these issues, Avici has outlined a phased masterplan focused on building network effects. The initial phase concentrates on making stablecoins and other cryptocurrencies easily spendable at millions of merchants through its card product. By establishing a practical and frictionless payment network, the project intends to build a large and active user base. Once this distribution is achieved, the final phase involves expanding into a full-stack banking platform, introducing onchain credit, underwriting systems, and other comprehensive financial services. ^[1]​

A key quote from the project's documentation summarizes its ultimate vision:

"Avici DAO’s purpose is to build distributed internet banking infrastructure to accelerate Bitcoin’s original promise, eliminating the need for central banks." ^[1]

History and Development

The public presence for Avici began in August 2023 with the creation of its official account on the social media platform X (formerly Twitter). ^[2]​

On September 8, 2025, the Avici Network published a statement clarifying its core purpose and technological approach. This communication emphasized that the term "Network" referred to a community working toward a common goal, rather than the launch of a new Layer 1 or Layer 2 blockchain. The announcement also confirmed that its flagship product, Avici.money, which includes a smart wallet and card, was actively in its building phase. ^[3]​

On October 13, 2025, the project published an article titled "Avici: Future of Internet Banking on Solana," which further detailed its vision and the specific problems within the crypto and traditional finance sectors it intended to solve. ^[2]​

In November 2025, the project initiated a significant marketing effort. On November 10, 2025, it launched a viral campaign styled as an "Official Apology" for making the process of spending crypto "too easy." The campaign was successful in generating widespread attention, garnering over 1.2 million views. Two days later, on November 12, 2025, a team member named Varun announced a promotion offering the first card free of charge, framing the offer as an accidental "bug push" to further engage the community. ^[2]​

Technology and Infrastructure

Avici's technical architecture is designed as an application and infrastructure layer built on the Solana blockchain, rather than being a new foundational blockchain itself. The project's design principles emphasize transparency, security, privacy, censorship resistance, and ease of use. ^{[3] [2]}​

Core Architecture

The project explicitly states that Avici Network is not a new Layer 1 or Layer 2 protocol. Instead, it functions as a suite of tools, applications, and community-driven infrastructure operating on Solana. This approach allows Avici to leverage the high throughput and low transaction costs of the Solana network for its financial products. The infrastructure is designed to be "unruggable," implying a commitment to security and decentralized control that prevents malicious actions from a central entity. ^[3]​

Onchain Credit System

A core long-term objective for Avici is the development of a comprehensive onchain credit and underwriting system. This system is intended to allow users to build a financial reputation and credit history entirely within the decentralized ecosystem, removing the dependency on traditional financial institutions. The project's documentation references components for this system named "Trust score" and "Jubilee," though specific technical details on their implementation have not been released. The goal is to enable access to significant financial products, such as home and business loans, based on a user's on-chain activity. ^[1]​

Fiat-Crypto Interoperability

The platform is architected to facilitate seamless interaction between fiat and cryptocurrency ecosystems. For merchants, this means the ability to accept payments initiated in crypto but receive settlement in their preferred fiat currency. For consumers, it enables spending from their crypto holdings at any merchant that accepts traditional card payments. This interoperability is a key component of Avici's strategy to bridge the gap between DeFi and mainstream commerce. ^[1]​

Self-Custody and Privacy

A fundamental principle of Avici's technology is user self-custody. Unlike many centralized crypto finance platforms, Avici's products are designed so that users maintain full control over their private keys and, therefore, their funds. This aligns with the core ethos of decentralization, ensuring that users do not need to trust a third party with their assets. The project also emphasizes privacy as a core tenet of its banking infrastructure. ^{[1] [2]}​

Products and Services

The primary product suite offered by Avici is delivered through its Avici.money platform, which serves as the initial distribution channel for the network's infrastructure. ^[3]​

Avici Card

The flagship product is the Avici Card, a self-custodial crypto debit card. It is designed to function as a direct off-ramp, allowing users to spend their cryptocurrency holdings at any location where Visa is accepted. ^[2]​

Features

• Card Network: The card is a Visa Signature card, indicating a partnership with the global payments network Visa.
• Self-Custody: Users connect their own wallets to the platform, and funds are only converted at the point of sale, ensuring they retain control of their assets until a transaction occurs.
• Mobile Wallet Integration: The card is compatible with major mobile payment systems, including Apple Pay and Google Pay, allowing for contactless payments.
• Funding Mechanism: The platform supports deposits of various crypto tokens, which are instantly converted into a spendable balance on the card.
• Fee Structure: Avici markets the card with a "no fees" model, claiming there are no top-up fees, no daily or monthly maintenance fees, and no foreign exchange (forex) markup on international transactions.
• Spending Limits: The project claims to offer high daily and monthly spending limits, positioning itself as a more flexible alternative to competing crypto cards that may impose stricter caps.

The setup process for the card is advertised to take approximately two minutes. ^[2]​

Smart Wallet

In addition to the card, the Avici.money platform includes a smart wallet. This wallet serves as the user's primary interface for managing funds, connecting to the card, and interacting with the broader Avici ecosystem. It is a central component of the project's goal to provide a comprehensive, on-chain banking experience. ^[3]​

Governance

Avici is governed by a Decentralized Autonomous Organization (DAO), known as the Avici DAO. The governance structure is designed to align the community toward the project's core mission of building a decentralized banking alternative. ^[1]​

Futarchy Model

The Avici DAO intends to implement a governance model based on futarchy. This system, described by the project as one where participants "vote on values but bet on beliefs," uses prediction markets to make decisions. In this model, participants do not vote directly on proposals. Instead, they bet on which policies will best achieve a predefined, measurable goal (e.g., maximizing the value of a token or increasing user growth). The policy with the most confident financial backing in the prediction market is then implemented. The stated objective of this approach is to reward conviction and foresight, ensuring that governance decisions are tied to tangible outcomes and effective execution. ^{[1] [3]}​

A quote from the project's network overview explains the philosophy:

"To truly replace central banks, we can't settle for systems where one person or one office dictates the money supply. Avici must show the world that a decentralized community can not only dream, but build, ship, and scale." ^[3]

Team and Key Figures

While a full list of the founding team has not been made public, some individuals have been associated with the project through its official communications.

• chuk_xyz: This individual is referenced in Avici's official documentation in the context of "core incentive design." This suggests a potential role as a founder, key contributor, or a significant thought leader whose ideas have influenced the project's strategic direction. ^[3]
• Varun (@orseliyas): Identified as a team member through a post on X that was shared by the official Avici account. His involvement in announcing a product promotion suggests a role in the project's development or operational activities. ^[2]