SAN FRANCISCO--(BUSINESS WIRE)--Uphold, the global digital money platform that has powered almost $4.0 billion in transactions across 184 countries, and Cred, the leading provider of crypto-backed lending with over $250 million in credit facilities, today announced that Cred’s Lend-Borrow-Asset (LBA) token will soon be available for purchase in the United States through Uphold, bringing US consumers one step closer to earning up to five percent on their digital assets.
“LBA is designed to empower individuals and companies to take control of their financial services, lowering interest rates on loans and increasing returns on digital assets,” said Dan Schatt, Co-founder and President of Cred. “It will also become a powerful governance utility, allowing LBA customers to vote on product enhancements that are meaningful to the LBA community. We’re thrilled that Uphold is the first to make LBA available in the United States, and share their commitment to providing more inclusive, transparent and equitable financial products.”
On Monday, Uphold unveiled Uphold Earn and Uphold Borrow, powered by Cred, two revolutionary products that leverage blockchain technology to address mass consumer personal finance pain points: the desire for higher rates on their holdings and the need for less expensive and more flexible forms of credit.
LBA, a powerful utility token, introduced globally by Uphold last month, enables holders to leverage these products to the highest extent.
“Uphold was the first to offer XRP and Bitcoin Cash to US customers and we’re now excited to be the first to make Cred’s LBA token available in the US,” said JP Thieriot, Co-founder and CEO of Uphold. “Cred sets a high bar in terms of the caliber of their product, their highly experienced team and the significant utility value of their LBA token. The LBA token allows Uphold customers to get some of the very best financial services experiences available worldwide.”
Cred is a decentralized global lending platform that facilitates open access to credit anywhere and anytime. Founded by former PayPal financial technology veterans, Cred has secured over $250,000,000 of lending capital with offices in San Francisco, Shanghai, Singapore, Sydney and Munich. Cred’s mission is to harness the power of blockchain to allow everyone to benefit from low-cost credit products. Cred brings together a diverse team of entrepreneurial leaders, machine learning, and the power of blockchain technology. For more information, visit mycred.io or follow us on Twitter, LinkedIn, or join our 100k+ community on Telegram.
Uphold is the creator of an open, trusted and transparent digital money platform that lets you quickly and safely access traditional currencies, cryptocurrencies, and other investments all in one place. Uphold has powered almost $4.0 billion in transactions across 184 countries, in more than 30 supported currencies and four commodities.
The Uphold platform provides access to the widest range of currencies and investments available in one place, with transparency and security. Uphold is the only company to publish real-time reserve holdings, providing its members with the necessary information to make informed decisions. Uphold has global operations in San Francisco, Los Angeles, Braga, London and Mexico City. More information can be found at www.uphold.com, or follow us on Twitter, Facebook, and LinkedIn. Not licensed in all jurisdictions.
Uphold Borrow and Uphold Earn are new products not available to customers in all jurisdictions. Uphold Borrow and Uphold Earn will be subject to specific terms and conditions, which will be separately disclosed and, where available, will be provided by Cred through Uphold. This summary does not constitute an offer for any product or service.