Crypto finance firm Swipe launches Visa DeFi lending card

Swipe, a Binance-owned cryptocurrency debit card provider, is expanding its offering with a new crypto Visa card that allows users to borrow funds using blockchain technology.

Dubbed the “LendFi Visa Card,” the new product deploys major decentralized finance protocols to provide “near-instant access to lending balances.” The card is integrated with the LendFi app — a decentralized lending platform that is connected with the borrower through their mobile device. At launch, the platform will support major DeFi protocol Compound, a spokesperson for Swipe said.

According to an announcement, the new blockchain-based lending platform approves loans for users and disburses them to accounts. The LendFi App also offers a stablecoin aggregator so users can deposit various stablecoins to spend via their card.

Swipe developed the card with California-based payments company Marqeta. Marqeta vice president of business development Salman Syed said that the card enables lenders to issue a loan directly onto

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