Cred Partners With TrueUSD to Offer Interest on Stablecoin
Cred is pleased to announce that we have partnered with TrustToken, the creator of TrueUSD. Cred’s earning platform was chosen because of its significant experience with tokenized lending and borrowing, the team’s credibility and track record, Cred’s significant customer base and success with launching through Uphold, and Cred customers now enrolled in over 127 countries.
Through CredEarn, TrueUSD holders can earn up to 8% annualized interest on TrueUSD fully collateralized 1 to 1 with the US dollar. TrueUSD is now available on CredEarn worldwide including 29 US states, with no minimum investment amount and zero fees to participate.
“We are excited to partner with Cred as the trusted earning solution for TrueUSD users,” said Tory Reiss, Co-Founder and Head of Product and Business Development for TrustToken.
“Over the last year, we’ve been focused on building the bridge between traditional finance and the digital asset ecosystem, with TrueUSD as the first proof of concept. As we move into our second year of operation, our goal is to provide more valuable opportunities to utilize these assets. We’re happy to be advancing this mission together with the Cred team!”
I’m a TUSD holder, Why Should I Participate?
Cred has already had massive success through our partnership with Uphold, welcoming customers in over 127 countries and becoming the premier way that Uphold customers can earn a return on digital assets like BTC, XRP, ETH and fiat currencies. In partnering with TrustToken, we want to give TrueUSD holders the same opportunity to earn the highest available rate on TUSD stablecoin.
- Get an interest rate of up to 8% annualized per year with interest paid quarterly in TrueUSD. That is the highest available rate for TUSD available on the market today.
- No fees. No minimum or maximum contribution requirements.
- Crypto custodian insurance policy of up to $100M through BitGo.
- 1-to-1 conversion guarantee to US Dollars on TUSD stablecoin.
- Interest paid in TUSD quarterly with the option to auto-renew.
- Access to a team of former PayPal executives, a personal Cred Concierge, and high touch customer service and operational assistance.
“We are happy to be partnering with TrustToken to allow their holders to put TrueUSD to work,” said Dan Schatt, Cred Co-founder & President. “Cred’s mission is to offer more equitable, inclusive financial services using blockchain technology and we’re thrilled to make TrueUSD a part of Cred’s supported assets.”
How Does It Work?
Let’s say you are holding 50,000 TrueUSD in your wallet. First, create an account here with CredEarn and transfer your TrueUSD into your Cred wallet. Worried about safety? Cred is partnered with insured custody providers BitGo and Bittrex Enterprise to protect customers’ stablecoin assets up to $100 million.
On the program start date (which happens on the first and fifteenth of each month), your 50,000 TUSD will be transferred into the CredEarn program. At 8% interest, three months after the program start date you will receive your first 1000 interest payment in TUSD to your CredEarn wallet. In the second three month period, you will receive the second 1000 interest payment in TUSD and your 50,000 TUSD will be returned to your wallet as well. We give you the option to auto-renew for another 3-month term. Super simple!
Why hold your stablecoin assets without earning interest? Start earning a return now with CredEarn.
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About Cred
Cred is a decentralized global lending and borrowing 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 Shanghai. 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.
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About TrustToken
TrustToken is creating a more efficient and inclusive global financial system by digitizing assets that can be seamlessly and securely exchanged across liquid markets worldwide. TrueUSD [TUSD], a stablecoin redeemable 1-for-1 for U.S. dollars and the industry’s pioneer in using third-party trust companies and independent accounting firms, is the first product on TrustToken’s platform. TUSD offers the transparency, liquidity, and redeemability required in the crypto- economy, and it has the most traded of all fully-collateralized and independently validated stablecoins. TUSD is listed on more crypto-exchanges — including Binance, OKEx, DigiFinex, Bittrex, and Huobi — than any other product in its asset class. For more information, visit www.trusttoken.com.
