Tech retail chain Radioshack is planning to sell cryptocurrency. Recently, the company said that it would bring crypto to the mainstream. The retail chain announced its plans to launch a new venture – RadioShack DeFi, which will be a platform where users can trade crypto tokens between each other instead of exchange like Binance or Coinbase.
On its official website, the company said that the gap between cryptocurrencies and the mainstream at this point in time is something that only Radioshack can bridge. Many long-term fans of Radioshack were in shock following the announcement as they wondered what was going on. However, this is what will actually happen. Once Radioshack DeFi is up and running, users can trade crypto tokens among one another. This is significantly different from how an exchange works. Crypto trading on an exchange involves the exchange handling the transactions. However, Radioshack DeFi won’t handle any transaction, as it’ll be reliant on the Ethereum blockchain-based smart contracts.
While Radioshack hasn’t confirmed any date for the launch of the Radioshack DeFi platform, it has announced a waitlist for people who want to be a part of the platform when it starts its operations. To start trading, users will be required to link RadioShack DeFi to their digital wallets.
Right now, the USA has over 400 RadioShack stores, and in 2020, Retail Commerce Ventures acquired the chain. A holding company at its core, Retail Commerce Ventures also has had a role to play in the development of the Atlas USV DeFi Protocol. This protocol will play a significant role in making the RadioShack Defi platform operational.