Aethir and Credible join forces to launch the first DePIN-powered credit card

Aethir partners with Credible Finance to launch the first credit card and loan product backed by DePIN. The product also offers loan facility backed by $ATH tokens. According to a press release sent to crypto.news, the new credit card would allow traders who hold Aethir ($ATH) tokens, the project’s native token, to access stablecoin credit without having to sell their holdings in exchange for fiat. Instead, the decentralized physical infrastructure network or DePIN-backed card will allow them to use digital assets as collateral. Holders and node operators will be able to claim a free ATH-backed credit card issued by Credible. The card can be topped up using $ATH tokens or Solana (SOL)-based stablecoins. The product can also be used to unlock a credit line against $ATH tokens. As part of its partnership with Credible, $ATH holders will also be able to access the financial firm’s private investor portal. The feature offers short-term lending opportunities with up to 24% APR on $USDC ($USDC) and $USDT ($USDT) stablecoins. Loan approvals and credit limits will be determined by Credible’s AI-powered credit engine. The AI analyzes the borrower’s on-chain activity, digital assets portfolio, and transaction history to generate dynamic credit scores. Chief Strategy Officer and Co-founder at Aethir, Mark Rydon, expresses optimism regarding Aethir’s partnership with Credible. He believes that the joint product launch will be able to bring “real utility” to the $ATH token. “It’s the first step toward building a financial system around decentralized infrastructure,” said Rydon in his statement. By combining DePIN participation and on-chain data, Aethir is providing traders with a new alternative that would allow them to access capital that was previously not an option. CEO and Co-founder of Credible Finance, Shrikant Bhalerao, emphasized the importance of launching the world’s first DePIN-native credit card poised for facilitating real-life credit loans. “We’re turning tokenized infrastructure into usable financial capital,” said Bhalero. For the time being, the credit cards will only be available to GPU providers, node operators and $ATH token holders. However, the project plans to expand access to the card as the ecosystem continues to evolve. Users can check their eligibility through the official Credible site.