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
About CryptoCurrencyWire (“CCW”)
CryptoCurrencyWire (CCW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with CCW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness.
To receive instant SMS alerts, text CRYPTO to 77948 (U.S. Mobile Phones Only)
CryptoCurrencyNewsWire is where News, content and information converge via Crypto.
For more information, please visit https://www.CryptoCurrencyWire.com
This article contains Third-Party Content submitted by third parties, including articles submitted through the CCW Premium Partnership Program. All opinions, statements and representations expressed by such third parties are theirs alone and do not express or represent the views and opinions of CCW or its affiliates and owners. Content created by third parties is the sole responsibility of such third parties, and CCW does not endorse, guarantee or make representations concerning the accuracy and completeness of all third-party content. You acknowledge that by CCW providing you with this internet portal that makes accessible to you the ability to view third-party content through the CCW site, CCW does not undertake any obligation to you as a reader of such content or assume any liability relating to such third-party content. CCW expressly disclaims liability relating to such third-party content. CCW and its members, affiliates, successors, assigns, officers, directors, and partners assume no responsibility or liability that may arise from the third-party content, including, but not limited to, responsibility or liability for claims for defamation, libel, slander, infringement, invasion of privacy and publicity rights, fraud, or misrepresentation, or an private right of action under the federal securities laws of the United States or common law. Notwithstanding the foregoing, CCW reserves the right to remove third-party content at any time in its sole discretion.