Cred Secures $200M in Credit Facility, Now Available on Uphold

Cred, the decentralized global lending platform, has secured $200,000,000 USD in crypto-backed lending facilities.

In addition to securing this unprecedented lending facility, Cred has also announced an important milestone in their partnership with Uphold. Cred’s LBA token is now available in 170+ countries on Uphold’s secure crypto and fiat banking platform.  Uphold users will be able to purchase LBA with crypto, cash and via debit/credit cards, as well as obtain token-backed loans.

As part of this partnership, Uphold is currently offering zero commission transactions for all purchases of LBA. Cred’s LBA token will offer benefits to Uphold members such as a substantial reduction in interest rate loans, as well as a streamlined loan process. This listing highlights the expanding Cred ecosystem and deepening pool of liquidity available worldwide.

Dan Schatt, Co-founder and President of Cred:

“We’re excited to take our partnership to the next level with Uphold and prove out a model in which crypto can be leveraged to get everyone a fair deal…We’ve always thought of Uphold as the bank for the token economy given it’s highly secure and transparent reserve infrastructure, and we’re thrilled to be partnering with such visionary leaders in the crypto ecosystem.”

About Cred

Cred is a decentralized global lending platform that facilitates open access to credit anywhere and anytime. Founded by former PayPal financial technology veterans, Cred has secured over $200,000,000 of lending capital with offices in San Francisco, Shanghai, Singapore, Sydney and Munich.

Cred’s mission is to harness the power of blockchain to allow everyone to benefit from low cost credit products. Cred brings together a diverse team of entrepreneurial leaders, machine learning, and the power of blockchain technology.

About Uphold Inc.

Uphold is the creator of an open, trusted and transparent digital money platform that lets you quickly and safely access traditional currencies, cryptocurrencies, and other investments all in one place. Uphold has powered more than $3.5 billion in transactions across 184 countries, in more than 30 supported currencies and four commodities.

The Uphold platform provides access to the widest range of currencies and investments available in one place, with transparency and security. Uphold is the only company to publish real-time reserve holdings, providing its members with the necessary information to make informed decisions.

Uphold has global operations in San Francisco, Los Angeles, Braga, London and Mexico City.