According to a recent announcement, the loan company e staking San Francisco-based cryptocurrency has joined the Visa Fast Track program, which would allow it to access Visa's resources and network to expand its lending and lending services.
In particular, the new initiative will allow Cred users to send interest payments directly to customer bank accounts via the Visa network. Furthermore, it would allow for easier issuance for Crypto Line of Credit (C-LOC) cards which allow users to acquire digital assets using Visa payment products.
Dan Schatt, CEO and co-founder of Cred, expressed his enthusiasm for joining the Visa program and noted that adding the platform to Visa's Fast Track program would allow Cred to leverage more of the market's reach, capabilities and security offered by Visa.
Bridging the gap between DeFi and CeFi
Schatt further explained that cryptocurrency lending company Cred is also looking to bridge the gap between the fast-growing decentralized finance DeFi space and the centralized financial system (CeFi) to allow users to enjoy the benefits of both spaces.
In particular, the cryptocurrency lending service has recently seen consistent growth thanks to the launch of the Ethereum Compound-based lending platform. At the time of printing, the total blocked value in the lending protocols constitutes more than 40% of the total blocked value of the DeFi.
Visa Senior Director and Head of Crypto Cuy Sheffield said Visa, for its part, was thrilled with the new partnership. It also noted that its Fintech Fast Track program would help Cred use Visa's solutions to improve the interest payment process and create new crypto credit products.
Cred to enable it staking in-app
Among related news, the loan company e staking San Francisco-based cryptocurrency broker announced that in partnership with the crypto platform Klever will allow users to do staking with digital currencies and buy Bitcoins within the wallet.
According to the platform, users will be able to use Bitcoin (BTC), Ether (ETH), Tron (TRX) and other digital currencies in their programs. staking by Cred from within the wallet. The platform said the new functionality will allow Klever users to choose any of the staking listed on Cred in exchange for monthly rewards.
Once it staking in-app will be active, users will be able to bet Bitcoin, Ether and Tron without having to maintain any minimum threshold. Schatt noted that both companies were doing their best to publicize the project.
He noted that both companies are working with a revenue-sharing model, which invariably means that Klever would keep a fee to facilitate the process. staking for its users with a Cred account.
