Crypto-native prime broker Project 0 allows users to borrow against DeFi portfolios for real-world expenses
DeFi native prime broker Project 0 is launching Project 0 Pay, offering a way for users to pay off their credit cards using their crypto investment portfolio liquidity without having to sell their assets or interrupt yield generation.
In short, the new feature essentially tracks a user’s spending to provide a month-end statement and calculate a borrow transaction against their portfolio, which, if approved, will cover the period's expenses without needing to liquidate their holdings.
Pay will allow users to connect their credit cards and bank accounts directly to the Project 0 interface, allowing for borrowed USDC to be automatically off-ramped into their fiat accounts. Users can repay the USDC loan “whenever they choose,” the statement notes.
"With Project 0 Pay, you no longer need to keep idle cash off-chain to pay bills. Your DeFi portfolio can start to function more like a bank account, allowing you to stay long, earn yield, and still finance your daily expenses quickly and efficiently,” Project 0 founder MacBrennan Peet said.
The new feature can also be customized to give users control over what expenses to cover using their onchain funds.
Similar to the traditional financial system, crypto prime brokers provide comprehensive financial services to sophisticated clients. Project 0 often calls itself the first DeFi-native, permissionless, trustless prime broker centered around Solana.
The startup uses nascent onchain features like unified margin and credit to allow users to treat their entire “multi-venue” DeFi portfolios as a single collateral base for borrowing. Project 0 Pay mirrors offerings by some traditional prime brokers that provide leverage and financing for clients who need liquidity but want to keep their portfolios intact.
"We founded Project 0 to bring the first prime brokerage to DeFi, but we quickly realized the infrastructure we've built could enable something broader: using your DeFi portfolio to fund your day-to-day life," said Peet.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Amazon Conference Call: Cash Flow 'Burned Through', but AI Is a 'Once-in-a-Lifetime Opportunity'; AWS Targets Trillion-Dollar Revenue, Retail Business Undervalued
CEO Jassy expects AWS growth to exceed 40% in 2027 and 2028 and aims to reach a “trillion-dollar” revenue scale within 5-10 years. Addressing this year’s capital expenditure of as much as $220 billion, Jassy stated that AI is a “once-in-a-lifetime opportunity that will permanently change the scale of Amazon.” The company plans to offer computing power chips for external sales by the end of next year. In terms of e-commerce, the management emphasized that after excluding the impact of Prime Day timing mismatches, North American and international businesses still maintain growth rates of 6% and 8%, respectively.
Round after round of "historic crashes"! Google's sickness has now infected Amazon
Amazon AWS accelerated growth for the sixth consecutive quarter to 39%, but e-commerce online sales growth dropped to a three-year low. Advertising growth hit a record low, capital expenditures far exceeded expectations, and free cash flow over the past 12 months turned negative to -$42.4 billion. The stock price plunged after hours, resonating with Alphabet's 13% drop on the same day, as market concerns over the imbalance between tech giants' AI investments and core business growth are intensifying.
Bitcoin steady at $80,000 as fast-money funds exit, Galaxy Digital research shows
Legendary fund manager Druckenmiller invests in crypto derivatives platform TradeXYZ; related listed company’s share price soars 23% in a single day
Druckenmiller made a rare statement on X, announcing an investment in the crypto derivatives platform TradeXYZ and revealed he would use it to "enhance his investment decision-making process." On the same day, TradeXYZ announced a partnership with ICE, jointly seeking regulatory approval to officially introduce perpetual futures products into the compliant US market. Driven by these dual factors, the associated PURR options trading volume surged sixfold, with bullish bets outnumbering bearish ones by four to one.
Crypto prices
More
