Cred collaborates with the giant fintech company Visa. This enables Cred to expand its reach around the world.
On September 8, the San Francisco-based crypto lending and staking platform announced that it has joined the Visa Fast Track program. This program is said to enable Cred to expedite its process of integration with Visa, a known global payment processor.
Cred is one of the DeFi apps that disrupts the traditional way of lending money. In line with the parabolic move of the DeFi market, projects like Cred continue to catch the attention of the investors inside and outside the crypto industry. At the time of writing, the DeFi space has a total locked value (TVL) of $7.82 billion.
This event has made the CEO and co-founder of Cred Dan Schatt react:
Cred Joins Visa’s Fintech Fast Track Program to Deliver Payment Innovations https://t.co/EboJB44HY6 Thanks to @cuysheffield for the support as @ihaveCred builds a bridge between crypto, fiat, #DeFi and #Cefi
— Dan Schatt (@dschatt) September 8, 2020
Furthermore, the merge enables Cred clients to access a credit line without liquidating their digital asset holdings. It will also allow Cred to use some Visa features in order to support its lending and borrowing services.
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 more rapidly to support the significant growth occurring with digital asset lending.
Today, Cred is functional in around 190 countries, allowing its users to lend their crypto funds in return for monthly rewards. The integration of Cred with the Visa company would make it easier for the investors to liquidate their assets anywhere in the world.