Co-Founder Dan Schatt on What’s Next For Cred

2 min read

Dear Cred Community,

It certainly has been a challenging nine months of consecutive price drops for crypto! In November alone, one-third of the crypto market cap was eliminated! At Cred, most of us fintech veterans have been through bull and bear market cycles, and our focus remains on building products and services that are simple to use, valuable to have and lifts everyone to their financial potential. We’re excited about some upcoming announcements that will be released over the next few weeks and into the new year.

Here are a few quick updates and clarifications about our current and upcoming releases.

Cred has now provided hundreds and hundreds of crypto to crypto loans in its pilot and on its Android App that was released in Q3. Our pilot version of the app, which was accessible on Android, went through significant rounds of testing and global feedback. We have been pleased with how the LBA token has been leveraged to lower the cost of borrowing and benefit users across 28+ countries. This pilot has been very successful and it’s now time to sunset the pilot and incorporate everything we’ve learned in our new US mobile app, which we’re excited to offer in early Q1 2019. We’re currently finishing up the testing, compliance, and UX that will allow Cred and all of its partners to offer a very compelling set of financial services. We can’t wait for you to experience it!

Cred is open for business! Our loan concierge team continues to help customers from around the world obtain early access ahead of the mobile launch of our C-LOC product. We have seen a strong interest in loaning USD backed by XRP, ETH, and BTC. If you are interested in getting access to liquidity without selling your crypto, set up a time to talk to our loan concierge here.

We know that earning interest in crypto assets is important, particularly in a bear market. You’ll definitely see and hear more about Cred’s treasury management products in the coming weeks. Many have requested Cred to focus on treasury management ahead of rolling out Earn on partners like Uphold. We will have more exciting news about this soon!

Uphold Borrow is slated for release on Uphold’s mobile app in Q1 of 2019. In the meantime, make sure you download the Uphold app where you can access LBA token, which can be leveraged for Cred’s upcoming services. LBA tokens will enable significant discounts in interest rates, early access to certain product features and launches, and the ability to participate in Cred governance.

We will be sponsoring the World Digital Asset Summit in San Francisco on December 10 and 11th with Uphold and the Universal Protocol Alliance. We have some exciting announcements there including the date that the UPUSD stablecoin will be available on Uphold (It’s sooner than you think!) and a special stablecoin announcement that will be especially huge for our European community.

We will also be announcing some big partners in the Universal Protocol Alliance in the coming weeks. The UP Alliance is a coalition of leading blockchain organizations, including Uphold, Cred, Blockchain at Berkeley, and Brave, which serves as the hub for the creation and management of Universal tokens and user features that will drive mass user adoption of cryptocurrencies.

Thanks for your ongoing support of Cred and stay tuned for an exciting December and January!


Disclaimer: CredEarn is the trade name for a service offered to non-US persons by Cred LLC, which is an entity distinct and separate from Cred (US) LLC. CredEarn allows you to extend a loan to Cred LLC. The purpose of the loan is to allow you to earn an enhanced yield on your crypto assets, such as Bitcoin. Cred LLC is not a bank and CredEarn services are not insured by the FDIC. CredBorrow and C-LOC™ are trade names for lending products of Cred (US) LLC, a licensed lender and a wholly-owned subsidiary of Cred LLC. Loans, loan amounts, terms, and rates are not available in every jurisdiction, or for every collateral type. The availability of rates, crypto types, loan amounts, and other terms are subject to change. Loan applicants are subject to AML and KYC screening. Terms, conditions, and restrictions apply. Loans made or arranged pursuant to California Finance Lenders Law License 60DBO-58789.