Ripio, a prominent Argentine exchange, has made a significant announcement regarding the launch of a Visa-backed decentralized finance (defi) credit card. This innovative product will enable users to leverage their crypto assets by depositing them into a liquidity pool as collateral for making purchases.
This development marks a major step forward in the integration of traditional financial services with the rapidly evolving world of decentralized finance. By allowing users to use their cryptocurrency holdings as collateral, Ripio’s credit card opens up new possibilities for individuals looking to access credit while still maintaining ownership of their digital assets.
One key feature of Ripio’s defi credit card is that it does not automatically sell the cryptocurrencies held by users. Instead, it allows cardholders to borrow up to 30% of the value of their crypto assets, providing greater flexibility and control over their financial decisions.
Currently in the testing phases, this Visa-backed credit card represents a significant milestone for Ripio and the broader cryptocurrency ecosystem. As the adoption of decentralized finance continues to grow, innovative products like this one are likely to play an increasingly important role in expanding access to financial services for users around the world.
Overall, the launch of Ripio’s defi credit card highlights the ongoing convergence between traditional finance and decentralized technologies, demonstrating the potential for these two worlds to coexist and create new opportunities for individuals seeking to leverage their crypto holdings in innovative ways.
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