Earn Interest on Stablecoins: Tether, USD Coin and more

As traditional financial assets remain in uncertain positions, stablecoins have experienced significant inflows and ascended the market cap rankings. To meet the increasing demand, Uphold has recently expanded its offerings to add the top stablecoins to its offerings. Through our partnership with Uphold, users can now earn interest on Tether, USD Coin, DAI, and more through CredEarn.

Uphold supports six stablecoins, including the four most popular by market volume: Tether (USDT), TrueUSD (TUSD), USD Coin (USDC), and DAI (DAI). The Stablecoin Center also offers UPUSD and UPEUR, the transparently substantiated coins from the Universal Protocol Alliance

With competitive rates and more choices on how to earn including daily compound interest, we are proud to offer our customers greater flexibility while earning on their digital assets. The addition of the top stablecoins makes Cred the only earning platform to offer competitive interest rates on six different stablecoins: Tether (USDT), TrueUSD (TUSD), USD Coin (USDC), and DAI, along with the support of UP Tokens: UPUSD and UPEURO. Uphold users can visit the Uphold + Cred platform to start earning. 

“We’re happy to support Uphold and offer customers the most competitive interest rates available on stablecoins,” said Dan Schatt, CEO of Cred. “We’re excited to see this segment of the crypto-asset market maturing.”

Why Stablecoins?

Historically, stablecoin demand has increased with financial market disruptions. Over the past two months, stablecoins have exceeded their value proposition and are experiencing a similar performance pattern to what was seen during the crypto bear market of 2018. 

The market cap of stablecoins jumped from $5 billion at the start of the year to above $8 billion in April. Designed to tackle the inherent volatility, we are excited to support several coins that have shown great promise:

  • Tether – USDT bridges the gap between fiat currencies and crypto assets while offering stability, transparency, and a stable alternative to Bitcoin. Backed 1:1 by traditional fiat currencies, USDT is currently trading at the top of the stablecoin market.
  • TrueUSD – TUSD is a USD pegged stablecoin built on the Ethereum blockchain. The first regulated stablecoin fully backed by the US Dollar aims to provide crypto traders with a safe haven during the time of substantial market fluctuations. TUSD is currently trading in the top 10 coin market.
  • USD Coin – Launched in 2018, USDC is an Ethereum powered coin, and similar to other significant stablecoins, has seen massive gains in capitalization since the market downturn. USDC remains highly competitive among non-Tether stablecoins and sits behind USDT in market rankings.
  • DAI – A central reserve of fiat currency does not back the multi-collateral Dai. Instead, individual users lock up their crypto holdings in blockchain smart contracts. Like the rest of the list, Dai is showing promising gains in the market.

“Stablecoins are ostensibly a measure of interest in crypto combined with the shortcomings of the legacy financial system. The units of account are still the Fiat units of account. Nothing changes on that front. Moving from bank USD to digital USD just means better velocity, more options, and, perhaps most notably – higher interest yields,” said JP Thieriot, CEO of Uphold.

Cred’s Support of UP Tokens

The UPUSD and UPEURO Stablecoins are part of a universal reserve standard that introduces digital assets to the world via the Universal Protocol Alliance. These UP Tokens offer customers an alternative to existing stablecoin products, aimed at users looking for low volatility and a competitive annual rate of return. As a founding member of the Universal Protocol Alliance, Cred is proud to offer a transparent and secure way for users to earn on their digital assets. Customers who hold UPUSD stablecoin through Uphold have the ability to earn the highest rate offered, at 10% annual interest.

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 can talk to you about options on working with Cred. Schedule a call now.


 

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 - 91480.