Aethir, the decentralized GPU cloud platform, has partnered with on-chain lending protocol Credible Finance to launch a credit card powered by DePIN technology. This move is a notable convergence of decentralized infrastructure and real-world finance.
The product, revealed Wednesday, is being touted as the first-ever credit card and loan offering directly by a DePIN-native token. Targeting holders of the Aethir (ATH) token and node operators of the Aethir network, it enables users to access stable credit lines against their crypto holdings without having to sell the underlying crypto assets.
Any qualified members will be able to use ATH tokens as collateral to either obtain a revolving credit line or load a zero-cost card with ATH or stablecoins through a process on the Solana blockchain.
The credit approvals and loan limits are done by the AI-driven credit engine set up by Credible Finance. The engine evaluates such users based on their on-chain presence, such as assets held, transactions, and wallet habits.
DePIN projects such as Aethir employ incentives on blockchain to promote the development of real physical infrastructure. The network of Aethir compensates GPU node operators with the ATH tokens according to their network performance aspects, like uptime, successful task execution, or computing power. In other words, they turn physical hardware into on-chain revenue streams.
Focusing on the groundbreaking nature of the underlying innovation, the CEO of Credible Finance, Shrikant Bhalero, dubbed the launch a first for converting a tokenization infrastructure into consumable financial capital.
The first stage will see the implementation related to the provision of certain credit cards and loans to the GPU suppliers, node operators, and stakers of the ATH token. But it will be made accessible to a wider range of in the following steps.
As of writing, ATH is priced at $0.033 with a total market cap of ATH is $353.76 million, as per CoinMarketCap.
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