Cred’s platform now provides highly competitive interest rates on USDC, USDT, PAX, BUSD! These new stablecoins are additions to Cred’s ongoing support of UPUSD, UPEUR, TUSD, and the Tron version of USDT, TRC20-USDT. Cred will continue to add stablecoins that have the support of the crypto community.
With competitive rates and more financial service choices, including daily compound interest, we are proud to offer our customers greater flexibility while earning on their digital assets.
“Through the addition of these four new stablecoins, we are happy to support the crypto community with meaningful financial services to our customers,” said Dan Schatt, Co-founder and CEO of Cred. “Digital assets such as stablecoins are proving to be transformative, and Cred is excited to support these financial innovations.”
Support of stablecoins
The U.S. Office of the Controller of the Currency (OCC) recently issued a statement in which “national banks can provide services to stablecoin issuers in the U.S.” This significant announcement will help provide broader acceptance and a more transparent regulatory path to the banking community. The OCC notes this announcement only applies to stablecoins backed 1:1 with another currency. USDC, USDT, PAX, BUSD, UPUSD, and UPEUR, supported by Cred, all fall under this bracket.
CoinDesk reports, the total value of stablecoins surpassed $18 billion, a considerable rise from $10 billion just four months ago. A significant factor of this growth is driven by global demand for dollars and the growing number of advanced financial tools built on blockchain technology.
Below we provide some brief descriptions of the latest stablecoins we support:
- USD Coin – Launched in 2018, USDC has seen massive gains in capitalization since the market downturn. USDC remains highly competitive among non-Tether stablecoins.
- Tether – USDT is currently ranked #1 by volume and is one of the market’s earliest stablecoins.
- PAX – Issued by the Paxos Trust Company and regulated by the New York State Department of Financial Services, PAX has attracted many institutional traders.
- BUSD – Issued by Binance, the BUSD token is traded mostly on the Binance exchange.
Hold Over $150k in assets?
As a private client, you have access to a dedicated team of loan and capital market specialists who will assist with any of your crypto needs. No matter what crypto you hold – whether our platform supports it or not – our Private Client Associates are happy to work with you. Schedule a call now.