KUALA LUMPUR, Sept 21 (Bernama) – Uphold (a global digital money platform) and Cred (a leader in crypto-backed credit) have taken the next step in their commercial relationship by giving Uphold members an easy way to access LBA tokens to lower the cost of borrowing and increase earning power.
“Cred has secured more lending capital than any other lending company in the space by orders of magnitude,” said Uphold chief executive officer, JP Thieriot, in a statement today.
“Our ability to offer Cred’s LBA token is another important milestone for our members since Cred is one of the fastest-growing lending ecosystems in the crypto community,” he added.
To celebrate this next phase, both companies are offering two special arrangements for a limited time.
Cred is inviting all companies that have raised funds in crypto, and those seeking collateralised loans of more than US$100,000 (US$1= RM4.12), to apply for early access to the global lending platform.
While Uphold is offering zero exchange fees on LBA purchased by qualified members. Users will have the ability to exchange any other supported currency within their Uphold wallet for LBA.
“If you’re a company that has raised funds in crypto or an investor in crypto-based private equity, chances are you are looking for some needed liquidity,” said Cred co-founder and president, Dan Schatt.
“Our intent is to lessen the volatility of crypto over time by bridging institutional investors seeking crypto exposure and the many retail crypto investors and blockchain businesses that would like some diversification in the form of USD loans,” he added.
Schatt said Cred has always thought of Uphold as the bank for the token economy given it’s highly-secure and transparent reserve infrastructure.
“We’re thrilled to be partnering with such visionary leaders in the crypto ecosystem,” he said.
For more information, visit www.uphold.com.
-- BERNAMA
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