SAN FRANCISCO--(BUSINESS WIRE)--Cred, the leading provider of crypto borrowing and lending with over $300 million in credit facilities, today announced Uphold customers will be earning higher rates on a variety of digital assets. In addition to increases in USD and Euros, Uphold customers can now earn up to 5% on their Gold holdings and 8% on their Ethereum holdings.
“Most of us have been conditioned to believe that one or two percent should be the norm, and ten percent is too good to be true. The reality is that most financial institutions incur significant legacy costs -- branches, ATMs, expensive payment infrastructure and outdated technology, and pass that on to their customers through lower yield rates and higher loan costs,” said Dan Schatt, Co-founder and President of Cred. “As a licensed lender with comprehensive insurance, Cred’s product leverages crypto payment rails and the latest technology practices to give more back to customers.”
Cred customers can commit to a six-month term with the ability to rollover assets for additional three month periods. No account minimum is needed and interest is paid in U.S. Dollars or Stablecoin every three months on Uphold. The principal is paid back in the fiat or crypto amounts that were initially received.
“At Uphold, we are working with best of class partners to build an ecosystem that will revolutionize the personal finance industry for consumers globally. Our community is very vocal about their desire to Hodl and very happy with Cred’s ability to offer significant earnings on digital assets we support like USD, Euros, Gold, GBP, BTC, BCH or ETH,” said JP Thieriot, co-founder and CEO of Uphold.
Cred is backed by some of the largest investors in crypto and tech including 500 Startups, Arrington XRP Capital, Blocktower, FBG Capital, and Binance Labs. Cred is also a founding member of the Universal Protocol Alliance, a board member of the Blockchain Advocacy Coalition and has a joint business relationship with PwC.
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 $300 million of lending capital with offices in San Francisco and has some of the most comprehensive insurance offered in the crypto lending sector. 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 community on Telegram.
Uphold is a digital money platform providing consumers worldwide with convenient and secure access to traditional currencies, cryptocurrencies, and other investments. Uphold has powered more than $4 billion in transactions across 184 countries, covering over 30 supported currencies and four commodities. Uphold is the only financial platform to publish its reserve holdings in real time. The company has offices in San Francisco, New York, Portugal, 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.