Aethir & Credible Finance Unleash First-Ever DePIN Credit Card, Bridging DeFi and Real-World Finance – Breaking News!
In a landmark move for decentralized finance (DeFi) and the burgeoning DePIN (Decentralized Physical Infrastructure Networks) sector, Aethir, a decentralized GPU cloud network, and Credible Finance, a credit protocol, have jointly announced the launch of the world’s first credit card powered by a DePIN. This innovative product promises to unlock access to stablecoin loans for users without requiring them to sell their existing digital assets, potentially revolutionizing access to capital for a wider audience. This is a breaking news development with significant SEO implications for the crypto space and beyond.
How the Aethir DePIN Credit Card Works
The Aethir card leverages the native ATH token as collateral, allowing ATH holders and node operators to access a revolving credit line backed by stablecoins. Unlike traditional credit systems, this model doesn’t force users to liquidate their assets to obtain funding. The system operates much like a conventional credit card, but with a distinctly DeFi twist – a blockchain-based revolving credit line. A key feature is the potential for a fee-free card, available to users holding ATH tokens or Solana (SOL)-based stablecoins.
AI-Powered Creditworthiness & A New Approach to Lending
Credible Finance is handling the applicant review process, employing artificial intelligence (AI) to assess suitability. This AI analyzes digital currency holdings, on-chain activity, and transaction history. Interestingly, this approach differs significantly from traditional finance (Tradfi) methods, which rely on extensive personal and financial data. The DePIN card’s assessment is streamlined, focusing on readily available blockchain data. This represents a significant step towards more inclusive and efficient lending practices.
Addressing the Global Credit Gap with DePIN Innovation
The launch comes at a crucial time. According to Aethir, decentralized credit platforms saw a $4.75 billion decline in open loans during the first quarter, while a global credit gap of $5.7 trillion persists, particularly impacting small and medium-sized businesses in emerging markets. Aethir believes that overly conservative loan models are contributing to this gap and emphasizes the need for systems that accurately reflect on-chain activity and infrastructure ownership. Shrikant Bhalerao, CEO of Credible Finance, stated, “We transform infrastructure into usable financial capital,” highlighting the potential of this new approach.
ATH Token Performance Surges on the News
The market has responded positively to the announcement. Since last Saturday, the ATH token has experienced a surge of over 26%, climbing from $0.027 to $0.03411 as of Friday. This growth has also boosted the token’s market capitalization, increasing from $10.63 million to $362.90 million in circulation. The positive momentum is also attributed to broader market optimism and the token’s recent breakout above its 9-day and 50-day moving averages, currently residing within a neutral range on the Relative Strength Index (RSI).
The Rise of DePIN and the Future of Decentralized Credit
DePINs are gaining traction as a powerful force in the crypto space, offering tangible real-world utility backed by blockchain technology. Aethir’s GPU cloud network is a prime example, providing decentralized computing power. By integrating this infrastructure with financial services, the Aethir and Credible partnership is pioneering a new paradigm for decentralized credit. This isn’t just about a new credit card; it’s about unlocking the value of decentralized networks and making financial services more accessible to a global audience. The success of this venture could pave the way for similar initiatives across other DePINs, further accelerating the adoption of decentralized finance and reshaping the future of lending.
This innovative approach to credit access, powered by the Aethir DePIN and facilitated by Credible Finance, signals a significant shift in the financial landscape. Stay tuned to archyde.com for continued coverage of this developing story and the evolving world of decentralized finance.
