Ripio, a leading Argentine exchange, has announced that it has created a Visa-backed decentralized finance ( defi) credit card allowing users to put crypto in a liquidity pool as collateral for purchases. The card, currently in the testing phases, will not sell the cryptocurrencies owned automatically but will instead borrow up to 30% of the capital locked in the liquidity pool. Ripio and Compound will host the liquidity pool and will support bitcoin ( BTC), ether ( ETH), usd coin (USDC), tether ( USDT), and Ripio’s stablecoin (UXD) as collateral. “First, we will test it with users and there will come a time when we will open it up to everyone. It is a proof of concept in which we will have a lot to validate,” Sebastian Serrano, CEO and co-founder of Ripio, concluded.
Argentine Exchange Ripio Announces Defi Credit Card
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