Euler Labs has launched a new crypto credit card, Swype.fun, which opens new opportunities for users, allowing them to make payments without liquidating their assets.
Overview of Swype.fun and Its Developers
Swype.fun is developed by the Euler Labs team in partnership with the payment startup Brahma. Known for their DeFi platform, which provides lending and borrowing capabilities, Euler Labs integrates DeFi functionality with real-world payment practices through this new card.
How the Crypto Card Works
Swype.fun allows users to deposit their cryptocurrency assets as collateral on the Euler platform. Based on this collateral, they can borrow stablecoins for payments, thereby eliminating the need to sell their assets for liquidity.
Advantages and Potential Risks of Using Swype.fun
The card offers numerous advantages, including liquidity without asset liquidation and usability at regular points of sale. However, there are risks such as asset volatility and potential liquidation if prices fall.
Swype.fun represents a significant advancement in the world of cryptocurrency and DeFi by providing users a method to pay for goods and services without losing their assets. This innovation may change how digital assets are managed.
