Euler Labs has partnered with crypto payments startup Brahma on a new credit card called Swype.fun enabling users to make “real-world payments with crypto without selling” their holdings. The integration is launching on Base, the Ethereum Layer 2 incubated by Coinbase, and will be powered by Brahma Cards.
The cards will enable users to borrow directly from positions on the decentralized lending platform Euler. V1.0 of Swype can be used by anyone holding a cumulative position of over $1,000 on either AAVE or Euler, both onchain credit platforms.
“When you swipe at a merchant, Brahma Infrastructure automatically connects your card to lending protocols like AAVE or Euler, borrows USDC against your crypto, and settles payments just in-time,” Brahma wrote in its documentation. It “gives access to an instant credit line powered by Euler.”
Granting approval to Swype permits it to borrow assets on a user’s behalf; however, users will remain in control of the maximum borrow amount, which assets can serve as collateral, and other spending limits, Brahma wrote. Users will have to complete a one-time KYC process via SumSub to receive a virtual card.
“When you approve an Euler position, a sub-account on Euler is created that you own. Swype only gets delegation rights to borrow on your behalf,” Brahma said, noting that its infrastructure is also non-custodial.
Brahma, founded in 2021, claims to support over $100 million worth of capital, $1 billion in transaction volume, and over 100,000 accounts. It has raised a total of $6.71 million in funding, including a seed round led by Framework Ventures in 2022 and a seed extension in June 2023 led by Greenfield Capital.
Euler operates a non-custodial, permissionless lending protocol on Ethereum, allowing users to accrue interest on their cryptocurrency assets. Initially launched in 2021, the protocol suffered a major $197 million exploit in 2023. Notably, the attacker ended up returning a lot of the stolen funds with an apology.
The team launched an updated Euler V2 in late 2024, introducing a modular credit layer and more customizable lending options. Since relaunching, Euler’s total value locked has risen above $1.16 billion, of which about $14 million is on Base, according to DeFiLlama. The token is trading at $13.58, close to its all-time high, according to The Block’s price data. In May, Euler launched a decentralized exchange called EulerSwap.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
