Binance and Cred Partner to Bring Decentralized Financial Services and LBA to Binance Chain
Binance, the world’s largest cryptocurrency exchange by trading volume and developer of proprietary blockchain Binance Chain, and Cred, the leading platform for crypto lending and borrowing, today announced an agreement to work together to spur the decentralization of finance. As part of the agreement, Cred will migrate a portion of its ERC20 LBA tokens to Binance Chain and will become the official lending and borrowing platform for the DeFi ecosystem. As both an investor and partner in Cred, Binance will also look for opportunities to leverage and support Cred’s industry-leading services within the Binance ecosystem.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190529005333/en/
Changpeng Zhao, CEO of Binance, with Dan Schatt, Co-Founder and President of Cred (Photo: Business Wire)
“We are delighted to be working with Cred to help scale their efforts to more markets and users around the world through the power of the Binance Chain, which has a one-second block time and will ensure transactions and interactions by Cred’s users will be fast, efficient and effortless,” said Ted Lin, Chief Growth Officer of Binance.
Cred is a licensed lender, based in California and has secured over $300 million in lending capital. Cred enables crypto wallet providers, custodians, exchanges and crypto application providers the ability to offer some of the most competitive lending and borrowing rates in the industry. This year, Cred has announced partnerships with several influential organizations and custodians in the crypto community. Cred LBA holders will be able to commit their crypto to a fixed term and have the option to rollover assets for additional periods. Customers receive the best rates when staking Cred’s LBA token. No account minimum is needed and interest is paid out in Stablecoin. The principal is paid back in the crypto amounts that were initially received.
“Binance has been a strong partner and investor from Cred’s inception and we are very happy to support Binance Chain and continue to collaborate with Binance to bring decentralized finance to everyone in a sustainable way,” said Dan Schatt, Co-Founder of Cred. “We look forward to continuing the Cred-Binance partnership.”
Cred is backed by some of the largest investors in crypto and tech including Binance Labs, 500 Startups, Arrington XRP Capital, Blocktower and FBG Capital. Cred is also a founding member of the Universal Protocol Alliance, a board member of the Blockchain Advocacy Coalition.
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 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. For more information, visit mycred.io or follow us on Twitter, LinkedIn, or join our community on Telegram.
Binance is a blockchain ecosystem comprised of several arms to serve the greater mission of blockchain advancement and the freedom of money. The Binance ecosystem is comprised of Binance Exchange (the leading global cryptocurrency exchange), Labs (venture capital arm and incubator), Launchpad (token sale platform), Academy (educational portal), Research (market analysis), Charity Foundation (blockchain-powered donation platform and non-profit for aiding in sustainability) and Trust Wallet (Binance’s official multi-coin wallet and dApps browser), as well as Binance Chain, a blockchain software system developed by Binance and the community.
To learn more visit:
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Moody’s Analytics Wins Two Risk Technology Awards for Stress Testing Solutions15.7.2020 13:00:00 CEST | Press release
Moody’s Analytics has won Enterprise-Wide Stress Testing Product of the Year and Credit Stress-Testing Product of the Year in the 2020 Risk Technology Awards. They’re two of our seven wins in this year’s awards. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005065/en/ To manage financial risk, banks must understand the potential impacts of different economic scenarios on their credit portfolios. They perform stress tests both to address regulatory requirements and to extract business value from the results, for more informed risk management. Moody’s Analytics solutions help them achieve both goals. Our solutions, including the cloud-based Capital Risk Analyzer, drive stress testing and forecasting programs at banks around the world. Customers make use of the insights gained from stress testing to fulfill regulatory requirements, perform capital planning, and make better and more strategic business decisions. “We’re ho
Brand New Virtual Exhibition in July - Summer Sourcing Weeks 丨 Go ONLINE15.7.2020 12:07:00 CEST | Press release
The COVID-19 outbreak has put a damper on business activity across the world. With travel limitations in place across markets, it is difficult for international buyers to travel for visiting physical exhibitions. But there is a simple solution – go digital. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005405/en/ Brand New Virtual Exhibition in July - Summer Sourcing Weeks | Go ONLINE (Photo: Business Wire) Summer Sourcing Weeks丨Go ONLINE (SSWGO) organised by the Hong Kong Trade Development Council (HKTDC) offers a one-stop sourcing online platform for buyers and suppliers to continue exploring business opportunities in industries including lighting, electronics, ICT, medical & healthcare, houseware, fashion, home textiles & furnishings, gifts & premium as well as printing & packaging. Click2Match is a brand new AI-enabled business matching platform in SSWGO. With tailor-made virtual meeting, meeting planner, live cha
IDEMIA Wins the Security Industry Association (SIA) Award for the Best New Biometric Product for Its VisionPass Advanced Facial Recognition Device15.7.2020 09:00:00 CEST | Press release
IDEMIA, the global leader in Augmented Identity, today announces that VisionPass, its newly launched advanced facial recognition device, won the SIA New Product Showcase Award in the Biometric category, at a virtual ceremony held on July 9th. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005029/en/ (Photo: Business Wire) IDEMIA’s team defended the company’s submission in front of the judges by giving a “behind the curtain” overview of why and how IDEMIA developed this product, from a blank sheet of paper, listening to partners’ and clients’ pain points, as well as to their needs in terms of performance, reliability, user experience, etc. The team then explained the technical choices made by its R&D team to meet these very demanding requirements and come up with what is now confirmed with this award, as the most advanced facial recognition terminal on the market. Its 2D+3D+infrared cameras, combined with AI-trained alg
Eaton’s Vehicle Group Leveraging Industry 4.0 Technology to Navigate COVID-19 Pandemic14.7.2020 23:37:00 CEST | Press release
Power management company Eaton today announced its Vehicle Group has been leveraging advanced Industry 4.0 technology to help its global operations safely navigate the ongoing COVID-19 crisis and continue to service its customers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200714006047/en/ 3D-printed latticed aluminum aerospace parts, which were produced with Laser Powder Bed Fusion on a Concept Laser M2 UP1 3D printer. (Photo: Business Wire) Eaton’s Vehicle Group envisions Industry 4.0 as both operational and informational technologies, enabling autonomous production systems that are connected, optimized, transparent, proactive, and agile. Supported by an integrated ecosystem, the technologies are composed of augmented reality, rapid application development, autonomous robots, digital simulation, and additive manufacturing. “I’m proud of our Vehicle Group team and their ingenuity, especially during the COVID-19 pandemic
PTC Named Global Manufacturing Partner of the Year in the 2020 Microsoft Partner of the Year Awards14.7.2020 20:35:00 CEST | Press release
PTC (NASDAQ: PTC) today announced it has been named the Global Manufacturing Partner of the Year, for the second year in a row, in the Microsoft 2020 Partner of the Year Awards. Honored among a global field of top Microsoft partners, PTC has demonstrated excellence in innovation and implementation of customer solutions based on Microsoft technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200714005951/en/ Honored among a global field of top Microsoft partners, PTC has demonstrated excellence in innovation and implementation of customer solutions based on Microsoft technology. “We are pleased to announce that PTC has been recognized by Microsoft as the Global Manufacturing Partner of the Year for the second consecutive year,” said Jim Heppelmann, President and CEO, PTC. “Together, PTC and Microsoft have enabled digital transformation for some of the world’s largest organizations. We look forward to continuing that succ
Spotify Launches in Russia and 12 Additional European Markets14.7.2020 19:30:00 CEST | Press release
Spotify (NYSE: SPOT) today launched its service in 13 new markets across Europe including Russia, one of the world’s top 20 largest streaming markets. Already the world’s most popular audio streaming subscription service, with today’s expansion, Spotify now reaches a current total of 92 markets worldwide. Spotify’s 13 new markets include: Albania, Belarus, Bosnia & Herzegovina, Croatia, Kazakhstan, Kosovo, Moldova, Montenegro, North Macedonia, Russia, Serbia, Slovenia, Ukraine. As the leading platform driving music discovery on more types of devices than any other service, Spotify’s expansion in Europe comes as consumers in the region embrace streaming. According to the International Federation of the Phonographic Industry (IFPI), Russia is the 17th-biggest streaming market in the world and on pace to be the 10th-biggest streaming market by 2030. More than 87 percent of fans in Russia now access music through streaming, compared to 61 percent adoption globally, and 68 percent adoption