1.0 KiB
Credit Card
Lux Credit is a crypto card that will function as an actual hardware wallet to secure each members' assets with 3FA, that can be operated on a mobile device or computer. This will allow users to borrow against their crypto instead of selling it. There are many use cases for this lending feature: Users can consolidate debt (pay off high interest loans w/ crypto loan with lower interest rates), pay off mortgages or personal line of credits, pay off credit card debt, invest in other assets such as real estate, equities, businesses, VC, retirement funds etc., invest in other crypto assets, and for emergencies and necessities such as rent, food, health/sickness, unexpected expenses, etc. Lux will market this as both a B2B and B2C product so that partners may “white label” the card functionality while consumers may access the lending features described above. This initiative ties in favorably to further increasing ROI for validator owners and network participants alike as on-chain transaction volume increases.