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RadioShack, the US electronics retailer, is fully transitioning to DeFi

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RadioShack was hit by the e-commerce boom, filing for bankruptcy in 2015 and 2017.

RadioShack, an American electronics retailer, recently confirmed that it will fully switch to DeFi. Its website now says RadioShack DeFi "will serve as a bridge between ceos who control global corporations and the new world of cryptocurrencies."

"RadioShack alone can bridge the gap and" cross the chasm "in mainstream adoption of cryptocurrencies," according to documents on the site. The site boasts a partnership with Atlas USV (Universal Store of Value), a DeFi protocol. RadioShack DeFi aims to emulate Uniswap or Sushiswap by first creating a DEX that utilizes a liquidity pool. The model allows Token holders to trade any other Token directly.

Atlas's Ethereum-based Token USV can be traded on DEX. According to RadioShack, the agreement "allows USV users to purchase third-party tokens on the open market and then transfer them to the Atlas USV library in exchange for USV tokens at a discount."

RadioShack, the once ubiquitous electronics store, was reportedly hit by e-commerce and filed for bankruptcy in 2015 and 2017. Since then it has made a humble living as a parts supplier to HobbyTown in America, while keeping hundreds of franchises open and an online store. After that, Retail E-commerce Ventures (REV), run by CEO Mehr and Executive Chairman Lopez, acquired it in 2020.

In fact, REV owns many of the chains that once defined American retail, including Pier1, Linens 'N Things and DressBarn. Its overall strategy is to move failing retailers from storefronts to e-commerce, while attracting co-investors to participate. Dedicated to revitalizing the image of a defunct traditional brand.