Cred Partners with Tron (TRX) and Bitcoin.com to Provide Crypto Lending and Borrowing Services
Bitcoin.com has announced a partnership with Cred in which Bitcoin.com users will earn interests of up to 10% on their crypto holdings. Cred is a crypto borrowing and lending company whereas Bitcoin.com is an information portal that has over 4 million Bitcoin wallets.
Roger Ver, the CEO of Bitcoin.com, said that they believe that the Bitcoin community needs to adopt the lending and borrowing of the cryptocurrencies. He also mentioned that Bitcoin Cash users will certainly welcome the idea. Roger added that they share the same goals with Cred, lauding the company’s reputable history in providing crypto-based lending and borrowing services to investors.
Dan Schatt, the president and co-founder of Cred, said they were excited to offer Bitcoin.com clients to earn interest on their crypto holdings. He added that customers will get profits irrespective of the prevailing market conditions. This is because the interest amount will be fixed and distributed in stablecoin. Also, customers will benefit by receiving the full upside on the amount of crypto they commit to Cred.
The default commitment period available to Bitcoin.com customers is six months. However, there is an option for extending these terms according to the customer’s preferences. To get the best rates, users are encouraged to stake on LBA, the native token for Cred. The interests will be disbursed every three months in the form of stablecoins. After the stipulated term expires, customers will the exact amount that they committed as principal.
The two companies will pitch the idea to Bitcoin and Bitcoin Cash holders during the Consensus New York Conference. Moreover, they offer at least $25,000 as an incentive to push for the adoption of the program. The program is scheduled to launch in summer and will be open to all crypto investors, regardless of the size of their portfolio.
Besides Bitcoin, Cred gas also launched a similar partnership with the Tron Foundation, allowing TRX holders to earn interest on their crypto holdings. In this regard, Justin Sun, the founder of Tron, said that they were impressed by the past performance of Cred, as well as their in-depth knowledge in mitigating risks and their professionalism. He concluded by stating that both companies are committed to promoting inclusivity in the financial services sector through the adoption of blockchain technology.
All loans issued by Cred are guaranteed and collateralized. The company offers interest for both crypto and fiat currencies. TRX holders who wish to earn interest must send their tokens to their CredEarn wallet for a specified period. Cred is a licensed lender that is available in 50% of American states. The company also boasts one of the best insurance policies for a crypto service provider.