Nuo partners with Wyre to launch debit card on-ramp

DeFi • May 17, 2019, 4:39PM EDT
The Block

Nuo.Network, a non-custodial lending protocol backed by ConsenSys Ventures, announced a partnership with Wyre to enable debit card-funded fiat on-ramps on its borrowing platform.

According to a blog post, users will be able to link a debit card and convert up to $40 per day (to start) into stablecoins to earn interest.

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The collateralized lending application currently offers borrowing in a handful of assets, including DAI, ETH, USDC, MKR, and wrapped BTC. Nuo also recently enabled margin trading with up to 3x leverage through Uniswap and Kyber pools.

While Nuo currently offers collateralized crypto loans and margin trading, the team is aiming to provide other debt products like refinancing Maker CDPs and tokenized bonds, among others in the future.

About Author

Ryan Todd is a research analyst at The Block where he focuses on the convergence of fintech and digital assets. Previously he worked at Deutsche Bank as an equity analyst covering consumer finance and payments companies, and also spent time at ConsenSys exploring the broader Ethereum ecosystem. Ryan holds a BS in Economics and Accounting/Finance from Florida State University, and MS Finance from Vanderbilt University.

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