Cred Secures $200M in Credit Facility, Now Live on Uphold

By: Dan Schatt, President & Co-founder

Despite the crypto bear market, at Cred, we’re witnessing something spectacular- the explosive growth in interest in crypto-backed lending. The level of lending capital Cred now has to support the crypto ecosystem is unprecedented. Judging by Chris Skinner’s blog highlighting a recent report from DLA Piper, Cred is not alone in what we’re seeing:

  • 31% of financial services firms now believe central banks will hold cryptocurrencies on their balance sheet within the next five years.
  • 18% expect central banks to establish their own cryptocurrency.

That leads me to one of the biggest announcements we’ve made to date:

Cred has now secured over $200,000,000 in crypto-backed lending facilities.

That is over 4x bigger than any other lending announcement in the crypto community to date! We’re looking forward to lending this capital to businesses who have crypto on their balance sheets and are looking for diversification.

What does that mean for the Cred community?

If you are looking for a $50,000+ loan against your crypto assets at low interest rates and find that traditional lenders just can’t support you, click here for more information!

Secondly, I’m pleased to announce that LBA is now available in 170+ countries on Uphold, one of the most advanced and secure crypto and fiat banking platforms available today.

Uphold is currently offering ZERO COMMISSION transactions for all purchases of Cred’s LBA token.

In the coming months, Cred’s LBA token will allow Uphold members to get a substantial reduction in interest rate loans and can utilize LBA tokens to simplify the loan process. In addition to taking out a token-backed loan, Uphold has provided information on how to buy LBA with crypto, cash and via debit/credit cards. LBA is available in countries around the world, with the exception of China and the US for now. We’re excited to build upon our partnership with Uphold and prove out a model in which crypto can be leveraged to get everyone a fair deal!

If you are planning to attend SF Blockchain Week, stop by and say hello to the Cred team. We will be discussing lending, partnerships, and the founding of the UP Alliance, which is engineered to usher in the next 100 million users of crypto. Be sure to visit our friends at Uphold and open an account today to buy Cred’s (LBA) token.

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