Tag: Cred

Cred Joins Visa’s Fintech Fast Track Program to Deliver Payment Innovations – Press Release

SAN FRANCISCO, CA / ACCESSWIRE / September 8, 2020 / Cred, a global digital asset lending and borrowing platform, announced today that it has joined Visa’s Fast Track program, speeding up the process of integrating with Visa. Acceptance into this program allows Cred to more easily leverage the reach, capabilities, and security that Visa offers.

Through Fast Track, Cred will leverage several Visa capabilities to facilitate lending and borrowing of digital assets around the world. This includes sending interest payments directly to customer bank accounts through Visa’s network, issuing Crypto Line of Credit (C-LOC) cards that allow customers to access a credit line without liquidating their crypto assets, and an easy way to acquire digital assets using Visa payment products.

“We’re excited to join Visa’s Fast Track program, which will further Cred’s mission of providing fair financial services and expand its lending and borrowing services in the most efficient way

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Visa Adds Crypto Lender Cred to Fast Track Payments Program

Crypto lending platform Cred has joined Visa’s Fintech Fast Track Program to speed up payments and borrowing, Cred said Tuesday. 

  • According to the statement, entry into the fast track program will allow Cred to “more easily leverage the reach, capabilities and security that Visa offers.” 
  • By integrating its services with Visa, Cred can send interest payments directly to customer bank accounts in Visa’s network as well as issue crypto credit cards that will let customers access a line of credit without having to liquidate their crypto assets. 
  • On Tuesday, Cuy Sheffield, head of crypto at Visa, tweeted the firm’s endorsement of Cred saying the program will help Cred utilize Visa’s solutions to “improve the process of interest disbursements as well as create new crypto credit products.”
  • The Visa Fintech Fast Track Program, launched in the U.S. in July 2019, works as a vehicle for innovative fintech startups to leverage Visa’s
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Crypto firm Cred joins Visa’s Fast Track program to develop lending services

Digital asset lending platform Cred has joined Visa’s Fast Track program — a program that will give the firm access to Visa’s resources and network to expand its lending and borrowing services. 

According to an announcement today from the San Francisco-based platform, Cred will now be able to send interest payments directly to customer bank accounts through Visa’s network, as well as issue Crypto Line of Credit (C-LOC) cards that enable users to acquire digital assets using Visa payment products. 

According to Cred CEO and co-founder Dan Schatt, Cred’s entry into Visa’s Fast Track program will allow the firm to further its mission of “providing fair financial services and expand its lending and borrowing services in the most efficient way possible.”

“Cred has always served as a bridge between traditional banking and blockchain based financial services and having a direct relationship with Visa will enable the company to scale much

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Digital assets firm Cred eyes global expansion using Visa’s network

The decentralized finance platform Cred will now use Visa’s extensive reach to further push the adoption of lending and borrowing of digital assets.

On Sept. 8, Cred announced that it has joined the international payment behemoth Visa’s Fintech Fast Track program — a program that helps payment startups use Visa’s network, toolkits and expertise to build payment solutions.

Cred will use the payment giant’s reach and security to popularize decentralized lending and borrowing of cryptocurrencies, or crypto loans.

Cryptocurrency lending and borrowing shot to popularity recently with the launch of the Ethereum-based lending platform Compound. At the time of writing, the total value locked in lending and borrowing protocols makes up more than 40% of the total value locked in DeFi.

In the first week of June, the total funds across all DeFi applications amounted to only $1 billion. After three months, however, the DeFi market today holds more than

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