Cred Details

About Cred

Cred is a decentralized global lending and borrowing platform that facilitates open access to credit anywhere and anytime. Cred was founded by former PayPal financial technology veterans and has offices in San Francisco and Shanghai. Creds mission is to harness the power of blockchain to allow everyone to benefit from low-cost credit products.

Crypto Interest Provider Cred
TypeFinancial service
Interest
Earning Start: After program start (1st and 15th each month)
Guarantee Period: 6 Months
Payed As: Same curreny as deposit
Payout Interval: Every 3 Months
Compounded: No
DecentralizedNo
LimitationsThe interest program has a min and max aggregated amount. Before min amount is reached, program (interest earning) doesn't start. When max amount already reached, no participation in the program is possible (no interest is earned). You have to wait then for the next program start (1st and 15th every month).
The earned interest for the 6 months period is calculated based on the USD value of the deposited crypto at program start. For that reason you don't earn interest for any deposit value appreciation.
Lock-up Period6 Months
ProcedureCrypto is sent to provider which uses BitGo as custody. Crypto is lent in the next step to crypto miners, digital asset companies, crypto investment funds, and retail investors but not to short-sellers.
Token
Name: LBA
Utilities: Increasing interest rates
CompanyOperating since 2018. Registered in United States.
Currencies offered by Cred
TUSD (TrueUSD) 8.00% + 1, 2
1: Real APR may vary. Service fees are already deducted.
2: Better rates available under specific conditions.