December 2018 Monthly Report

4 min read

Cred's Monthly Report

Welcome to the Cred Weekly Report. The Cred team publishes these reports to keep our community up to date on the latest updates.

Making This Year InCREDible

It’s official — 2019 is in full swing! Our team is working diligently to deliver an exciting Q1 to the Cred and LBA community. We’re proud of what we accomplished in 2018, but we’re determined to reach new heights this year. We’re very grateful to have such an inspiring community to accompany us on this journey.

Cred’s Official Website

Cred’s Website Updates

At Cred, we are determined to bring you the best user experience possible. Visit our refreshed website and let us know what you think!

An Interview with Cred Leadership

The Silicon Review profiled Cred for “30 Fastest-Growing Private Companies to Watch”.

Another year is over…and what a ride it has been! This was a year of growth for our company — the Cred team has evolved and strengthened. We have hit major milestones for our product and development and are excited about what 2019 has in store! However, the year was not without its challenges. Since progress doesn’t happen without reflection, we thought we should take this opportunity to celebrate our accomplishments and to give you a sneak peek at what is to come.

Cred’s first year saw the establishment of numerous strategic partnerships:

Cred + Binance Labs

Binance Labs, the investment arm of the world’s largest digital asset exchange Binancehas invested in Cred. Binance Labs is a social impact fund which incubates, invests and empowers leading blockchain and cryptocurrency entrepreneurs, projects, and communities. As part of the relationship, Cred will lend fiat and crypto denominated assets to users who pledge BNB as collateral.

Cred + the Universal Protocol Alliance

Together with Blockchain at BerkeleyBrave, and Uphold, we formed the Universal Protocol Alliance — universal custody and reserve standard that we believe will usher in the next 100 million users of blockchain and crypto-assets. BitGo and FBG Capital were welcomed into the alliance in late 2018.

The Universal Protocol Alliance announced the universal dollar (UPUSD). The UPUSD is a fully-transparent, digital asset that is collateralized 1-to-1 with U.S. dollars to be held at the U.S. domiciled, FDIC-insured banks. The stablecoin is specifically designed to attract the next 100 million users into crypto by allowing investors around the globe to access higher yields on deposits and more affordable credit than available from many traditional banks. The UP Alliance ICO will take place in 2019.

Cred + PwC

Cred partnered with global professional services firm PwC to boost trust in the cryptocurrency space and bring in more traders by advancing stablecoin technology. The collaboration was formed to help the marketplace understand key considerations in quickly moving towards standards that build confidence and trust in the crypto ecosystem and usher in the next 100M users of crypto assets.

Cred + Blockchain Advocacy Coalition

Cred joined the Board of the Blockchain Advocacy Coalition in order to provide education and support to U.S. state and federal legislators and regulators. Cred, with the BAC, will be at the forefront in drafting legislation that will enable the next generation of banking and lending capabilities on the blockchain.

Cred + Cobo

Cred partnered with Cobo, the first leading wallet company in the world to offer Proof-of-Stake (PoS) and master node rewards on user holdings. Cobo has recently launched Cobo Custody, an agency-oriented digital asset escrow solution.

Cred + aelf

Cred partnered with aelf, a multi-chain blockchain network and pioneer in blockchain for business. As a part of the partnership, Cred joined the aelf Innovation Alliance, to collaborate with influential blockchain industry actors to fast-track commercial adoption. As the treasury management partner in aelf’s blockchain-for-business ecosystem, Cred will enable members to access sophisticated crypto financial services, including flexible crypto-backed lending and liquidity products.

Product and Technology

Cred launched CredX platform

Cred launched our CredX developer platform. The platform APIs will be used by financial services companies, banks, stablecoin providers, and many other institutions to bring accessible cryptocurrency borrowing and yield products to the masses. Our APIs are designed for financial institutions, cryptocurrency exchanges, blockchain alliances, stablecoin providers, and anyone else looking to access Cred’s Crypto Lending as a Service (CLaaS™) Platform. With the simple API integration of the CredX platform into your mobile app or website, have the ability to maintain control over application layers and your own personalized customer experience. Visit the CredX platform

Cred’s Desktop/Mobile App

This year, we’ve been hard at work on developing a desktop and mobile app fit for our outstanding community. Earlier this year, we released the alpha and beta versions of our desktop/mobile apps for testing. Cred has now provided hundreds and hundreds of crypto to crypto loans in its pilot and on its Android App. We have been pleased with how the LBA token has been leveraged to lower the cost of borrowing and benefit users across 28+ countries.

The Cred community shared loads of helpful feedback for our development team. Thank you very much for sharing your thoughts with us. Our pilot version has been placed offline, in order to include everything we’ve learned. We’ve incorporated new features and revamped our UX/UI to bring you the best product possible. The Cred team can’t wait to share our hard work with you! Our C-LOC app is in test flight and a Q1 go-live date will be announced soon.

CredBorrow Early Access

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 CredBorrow product. If you are interested in getting access to liquidity without selling your crypto, set up a time to talk to our loan concierge here.

Uphold’s Borrow and Earn Powered by Cred

Crypto owners will be able to pledge BTC, ETH, and XRP for a secured loan in fiat currency and will be available on the Uphold platform and new mobile app. 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 Cred’s LBA token, which can be leveraged for Cred’s upcoming services. Uphold Earn, another exciting product powered by Cred, allows access to a yield of 2-to-5% on digital assets and is expected to launch in early 2019. 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.

Exchange Listings

Since the activation of Cred’s LBA token in May 2018, we’ve been listed on many notable global exchanges. Most recently, LBA became available on Bittrex and Upbit. Other notable exchanges include HuobiUEXOKExBiboxABCCBitMaxGate.ioKyber NetworkIDEXDDEX and Bilaxy.

Cred’s LBA token is also available on Uphold and the micro-investing app Acre. In 2018. LBA is available for purchase in 180+ countries, including the United States.

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.