Crypto Lending Firm Cred Migrates LBA Tokens to Binance Chain

Binance, the world’s largest cryptocurrency exchange by trading volume, has come into a partnership with Cred, a provider of crypto borrowing and lending which claims over $300 million in credit facilities.

Cred offers a decentralized lending platform that allows customers of Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Read this Term issuers, exchanges, and wallets to earn up to 10 percent interest on their crypto-shares.

Per its agreement with Binance, the San Francisco-based startup will migrate a portion of its ERC20 LBA tokens to Binance Chain, the mainnet of the major cryptocurrency exchange. Cred will be also named the official lending and borrowing platform of the decentralized finance (DeFi) ecosystem, which includes lending and insurance platforms, marketplaces, and investment engines.

The company has signed similar partnerships with the Tron Foundation and Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.com, enabling Bitcoin, Bitcoin Cash, and TRX holders to acquire an interest in their crypto holdings.

Users of Cred are paid interest in stablecoins every three months for committing to six months of default commitments. These terms could be broadened according to their preference, and customers have the option to rollover assets for additional periods, and they receive the best rates when staking the LBA, the native token for Cred. The principal is paid back in the crypto amounts that were initially received.

Binance which invested in Cred from inception

When explaining about the partnership, Ted Lin, Chief Growth Officer of Binance said they are working with Cred “to help scale their efforts to more markets and users around the world through the power of the Binance Chain, which has a one-second block time and will ensure transactions and interactions by Cred’s users will be fast, efficient and effortless”.

Cred President Dan Schatt added that they are excited to continue their partnership with Binance, which invested in the company from inception. “We are very happy to support Binance Chain and continue to collaborate with Binance to bring decentralized finance to everyone in a sustainable way,” added Cred co-founder.

Binance Labs, the investment arm of Binance, has invested in Cred back in 2018. As part of the relationship, Cred lends fiat and crypto denominated assets to users who pledge BNB as collateral