As Cred builds bridges between centralized and decentralized finance, we are excited to be collaborating with Visa and announce we have joined Visa’s Fast Track program, speeding up the process of integrating with Visa. Acceptance into this program allows Cred to leverage Visa’s reach, capabilities, and security more easily.
Cred is the only crypto lending/borrowing platform noted to be a part of Visa’s program. We are the only licensed California lender looking to leverage Visa products for crypto-backed earning and loans.
The acceptance into the Fast Track program will enable us to utilize Visa’s extensive reach to push further the adoption of lending and borrowing of digital assets. The addition to Visa’s Fast Track program will also help us bridge the gap between fiat and crypto so our customers can benefit from the best of both worlds.
“We’re excited to join Visa’s Fast Track program, which will further Cred’s mission of providing fair financial services and expand its lending and borrowing services in the most efficient way possible,” said Dan Schatt, CEO and Co-Founder of Cred. “Cred has always served as a bridge between traditional banking and blockchain-based financial services and having a direct relationship with Visa will enable the company to scale much more rapidly to support the significant growth occurring with digital asset lending.”
Through Fast Track, Cred will leverage several Visa capabilities to facilitate lending and borrowing of digital assets worldwide. These services include sending interest payments directly to customer bank accounts through Visa’s network. Issuing Crypto Line of Credit (C-LOC) cards that allow customers to access a credit line without liquidating their crypto assets, and offering an easy way to acquire digital assets using Visa payment products.
“As the preferred network for digital currency wallets, we are excited to welcome Cred into our Fintech Fast Track program and help them utilize Visa solutions to improve the process of interest disbursements as well as create new crypto credit products. Through the Fast Track program, we can support Cred with access to Visa’s experts, technology, and resources to scale with efficiency,” said Cuy Sheffield Head of Crypto at Visa.
“We’ve seen significant innovation in new financial services for consumers that hold digital currencies. The growth in demand for lending and borrowing of digital currencies is an example of that. We’re excited to partner with fintechs like Cred that are building new products in this ecosystem and to find new ways for Visa to improve the fiat on-ramps and off-ramps connected to those products.”
Visa’s Fast Track Program supports the global fintech community and has grown exponentially since expanding globally a year ago, signaling the surge in demand for digital payments. The Fast Track program’s newest members span a diverse range of companies; these include digital currency wallets, consumer-centric, and business-to-business (B2B) solutions providers.
The support from major traditional financial services such as Visa signals an exciting time for blockchain and crypto adoption.
Read more about Visa’s fintech and crypto strategy and how Cred is involved here.
Cred is a global lending and borrowing platform that facilitates open access to credit anywhere and anytime. Founded by former PayPal financial technology veterans, Cred is headquartered in the San Francisco Bay Area. Cred’s mission is to harness the power of blockchain to allow everyone to benefit from superior financial services. Cred brings together a diverse team of entrepreneurial leaders, machine learning, and the power of blockchain technology. For more information, visit mycred.io.
If you wish to enroll as a private client at Cred, you have access to a dedicated team of loan and capital market specialists who will assist with any of your crypto needs with many options available.
No matter what crypto you hold, our Private Client Associates are ready to offer options to satisfy your needs. Schedule a call with our Client Associates today.