"3. Consumer Credit: "Borrow and Spend" for all Selling assets triggers capital gains and tax implications, which is why the ultra-high-net-worth almost never sell; they borrow and spend instead. I can imagine that in near future everyone will gain access to "borrow and spend" instead of "sell and spend"—a privilege currently only reserved for the ultra-wealthy. Asset issuers, custodians, and exchanges will have strong incentives to issue credit cards that allow people to borrow against their assets and spend directly. For this stack to function with the full self-custody stack, a decentralized rates market is inevitable. @EtherFi 's card is spearheading collateral-based consumer credit, and their card business grew 525% last year, with the most active day processing $1.2M in payment volume. If you haven't gotten an EtherFi card yet, I strongly encourage you to try it out and explore "borrow and spend"! "

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