RadioShack is becoming a DeFi company and will soon launch a decentralized exchange.
RadioShack, a company that home DIYers and electronics enthusiasts are sure to know, is now a crypto company. RadioShack filed for bankruptcy in 2015 after losing at least 11 consecutive quarters. This marked the end of a story almost a century old. Thereafter, various rights to use the brand were sold and resold several times until they fell into the hands of the Retail Ecommerce Ventures Review (REV). If you now go to the RadioShack website, you will see a banner informing about its new goal, which is to offer cryptocurrency to the general public. There is also an option to register to stay up to date with the upcoming launch of the RADIO token.
RadioShack becomes a DeFi company
As CNET and Tom’s Hardware explain, RadioShack is currently working on the design of a decentralized finance (DeFi) ecosystem in partnership with the Atlas USV (Universal Store of Value) protocol. Atlas was conceived and designed by Alex Mehr and Ty Lopez, the duo that rightfully founded REV. RadioShack’s DeFi ecosystem will start with a decentralized exchange, which the company describes on its website as “promising.”Once launched, the DeFi exchange will allow its users to send cryptocurrencies directly to other users rather than through an exchange service like Coinbase.
and will soon launch a decentralized exchange
Referring to what is stated on the RadioShack website, REV hopes that the “century-old brand” is sufficiently rooted “into the mainstream” to spur global adoption of cryptocurrencies. REV even hopes that RadioShack will become the preferred choice for big companies like Starbucks or Louis Vuitton as they transition to blockchain companies.
In any case, this is a very ambitious goal, especially for a brand that has filed for bankruptcy twice in a few years. If you are interested in the REV project for RadioShack, you can check out the documentation posted on the site.