A new product from a subsidiary of Binance allows you to get leveraged funds using decentralized finance (DeFi) technology.
Swipe, which is owned by Binance, the largest exchange by trading volume, has introduced a new Visa card that allows the owner to acquire funds by using the blockchain technology. A product called the LendFi Visa Card works on the basis of DeFi protocols.
The card is integrated with the LendFi app. A Swipe spokesperson stressed that it would work on the Compound protocol. The new platform will automatically review and approve loans for users and transfer them to their accounts. The card also allows you to pay with stable coins.
LendFi Visa Card is currently available for US customers. They need to download a special application, register, and go through the verification procedure. After submitting the application, the client can order a physical card. It also comes with a 4% cashback on all purchases.
