The prominent exchange, Binance, can’t seem to take a day off. The company, led by its disparate and distributed intelligent team has deployed the Binance Chain, hosts IEO’s, and adds partnerships on a regular basis. The latest partnership is with Cred, another player in the growing crypto-based lending market.
Binance and Cred
According to a recent press release, the two companies will collaborate and propel decentralization in finance. Cred will allocate a small segment of its ERC20 LBA tokens to the Binance Chain.
According to Binance leadership and CEO, CZ “We share Cred’s global mission to offer financial services that are inclusive, transparent and equitable for everyone”.
Decentralized finance will get another boost with this partnership.
Why the Partnership Matters to Binance
Binance is an investor in Cred, the agreement with strengthenening its overall partnership.
This partnership will provide Binance with an inroad into the key and growing segment of crypto lending.
The company will have exposure to decentralized finance and might be able to learn and adopt industry standards. Binance, similar to a company like Amazon, may utilize these learnings to deploy their own services in a streamlined and better fashion.
This means that the company would be able to add to its system and keep its dominance within the cryptocurrency industry.
Why the Partnership Matters to Cred
Cred will further benefit by having more exposure to consumers within the decentralized finance sector. It will also allow the company to grow and learn from consumers and their interests.
As a licensed lender, based out of California, Cred has in excess of $300 million in lending capital. These funds allow the firm to connect with “crypto wallet providers, custodians, exchanges and crypto application providers the ability” to provide lending capabilities to their different consumers.
This partnership will allow Cred to lend USD, Euro, and more fiat currencies to more people and companies, allowing them to “borrow” and “earn”.
This may attract more Cred LBA holders who stake Cred LBA and receive interest and the principal over time.
According to the website “no minimum investment size, no hidden fees, just great returns. Earn up to 10% on your digital assets including crypto, fiat, and precious metals.”
– This article was originally posted at CryptoTraderNews
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