Albert Einstein once said, “It is in crisis that invention, discovery, and large strategies are born.” During this time of uncertainty, the Cred team has pulled together like never before to grow its partner base, expand its product offerings, and deliver some outstanding results.
Cred has been striving to bring fairness back to financial services since 2018 and in two short years, we’ve come a long way. When the initial CredEarn platform launched with our first partner Uphold in January of 2019, we welcomed sign-ups in over 60 countries in the first 24 hours alone. With the addition of eleven new partners in the past year, Cred is accessed by customers in more than 190 countries and 35 U.S. states.
Expanding our Reach
Cred’s financial services are available in 35 states. Cred’s General Counsel is working diligently to expand our services into the final 15 states. We actively engage regulators and compliance advisors to further our mission of inclusive, equitable lending, and borrowing practices globally.
“Cred continues to expand its network of licenses across the United States. Although Cred operates in most states, obtaining a dozen more licenses will give us the flexibility to offer lending and borrowing to more people,” said Dan Wheeler, General Council at Cred. “We expect to receive all those additional licenses by the third quarter of 2020. Cred is led by an unusually deep bench of legal, security and financial product experts who are achieving remarkable results not just in the U.S. but globally.”
The U.S. states we currently support are Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Virginia, Washington DC, West Virginia, Wisconsin, Wyoming.
The strength of Cred comes from the high caliber of our team. Cred employees deliver over 30 years of high-level experience across the financial, security, and investment industries. Many of our executives operated in roles at Paypal, Bryan Cave, Intuit, SALT, and more. This wealth of experience makes Cred a pretty agile team and enables us to assess what should be done for the business. Our sales team is comprised of a dedicated group of loan and capital market specialists that can assist with any of your crypto needs. Hold Over $150k in assets? No matter what crypto you hold – whether our platform supports it or not you can schedule a call with our Private Client Associates to talk about you about your options on working with Cred.
Growing our Community
Not only has our reach expanded, but so have our offerings! In Q1 of 2020, we welcomed a steady stream of new high-quality partners. Our partnership with Litecoin Foundation and Charlie Lee has seen large inflows of earning on Litecoin (LTC), a top 6 global cryptocurrency. We also launched a more native integration with Edge Wallet, a leading self-custody cryptocurrency wallet and security platform.
We have expanded our offerings in the Asian markets by partnering with Huobi Wallet and Bitpie, two of the largest multi-blockchain wallets in the Asia-Pacific region. Our services were integrated into CoinStats, a leading cryptocurrency portfolio tracker and research application as well as Virtuse Exchange, an advanced crypto commodity exchange serving over 100 countries. To disrupt the traditional ad model, Cred partnered with leading blockchain publications, CryptoBriefing and Cyptoslate, enabling them to earn revenue through our earning and borrowing services. Lastly, we formed a strategic partnership with Brooklyn Nets guard, Spencer Dinwiddie that offers NBA fans an alternative to traditional banking.
A Wealth of Product Offerings
Cred is unique in that we provide our partners with an abundance of financial services so that they can offer the most value to their customer base. We work to navigate the complicated lending, financing, capital markets, and product development needs of our communities.
Cred has been making a lot of firsts in the lending and borrowing industry. We recently became one of the only financial platforms to offer daily compounding interest on cryptocurrency assets. Daily compound interest is an essential tool for customers looking to ensure long-term financial stability and is an easy way for customers to put their digital assets to work.
To meet the increasing demand for stablecoins, Uphold and Cred have announced earning on the four most popular stablecoins by market volume. Tether (USDT), TrueUSD (TUSD), USD Coin (USDC), and DAI, along with the support of UP Tokens: UPUSD and UPEURO. The addition of these top assets makes Cred the only earning platform to offer competitive interest rates on six different stablecoins.
We are always improving our platform and increasing functionality. As Cred continues to push industry boundaries, we will be posting progress updates across our social platforms, our Cred Telegram channel, and actively answering your questions in our monthly AMAs.
All this would not be possible if it weren’t for the support of you, our Cred community. We are excited to share what’s coming next!