The CRED crypto lending platform has just joined Visa’s Fast Track program and now aims to leverage Visa’s experience to enhance its services so let’s find out more in our blockchain latest news today.
The CRED crypto lending platform announced today that it had joined Visa’s fast track program and now plans to leverage a few of the VISA features to facilitate lending and borrowing of digital assets across the world. The San Francisco-based company announced today the latest milestone in a press release and according to it, just before it joined the Visa program, CRED will speed up the integration process with the major American financial services company.
Visa’s fast track program will provide CRED with many exciting features that could facilitate the borrowing and lending processes of crypto assets. This includes sending interest payments right to the customer bank account via Visa’s network. Cred will also be able to issue Crypto line of credit cards that will grant clients access to a credit line without having to liquidate the digital asset holdings. The statement described it as an “Easy way to acquire digital assets using Visa payment products”. The CEO and co-founder of Cred Dan Schatt said:
“Cred has always served as a bridge between traditional banking and blockchain-based financial services and having a direct relationship with Visa will enable the company to scale much more rapidly to support the significant growth occurring with digital asset lending.”
The head of Crypto at Visa Cuy Sheffield said that the company is very excited to help innovative companies and startups such as CRED to harness the value of Visa’s network. Right before joining the Visa Fast Track program, CRED partnered with the crypto wallet provider Klever. Both companies will work together to offer in-app staking and interest to the 250,000 daily users on their app.
Cred Joins Visa’s Fintech Fast Track Program to Deliver Payment Innovations https://t.co/EboJB44HY6 Thanks to @cuysheffield for the support as @ihaveCred builds a bridge between crypto, fiat, #DeFi and #Cefi
— Dan Schatt (@dschatt) September 8, 2020
The app will not require a minimum amount of the deposited funds in BTC, ETH or any other digital asset. The interest will be payout every month and users will be able to choose if they want to receive them in crypto, fiat or stablecoins. The company also plans to enable KLEVER users to earn interest with the help of CRED by sending funds right from their Klever wallet to CRED’s staking program that they prefer.
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