Customers Can Earn up to 10% APR on TRX and Other TRC-Based Virtual Currencies Using Cred’s LBA Token
Cred, the leading crypto borrowing and lending provider, announced a partnership with TRON, one of the world’s largest blockchain-based platforms, to allow TRX holders to earn up to 10% annual interest.
Cred, with over $300 million in lending capital, will also offer crypto-backed loans to the TRON community to support the growth and development of the TRON ecosystem.
To celebrate the partnership, Cred is now offering TRX holders with $25,000 or more up to 10% annual return at mycred.io/tron. Cred will be available at the Consensus New York conference to sign up eligible participants. The program will be open to all users, regardless of asset size, through the summer.
“TRON’s partnership with CRED will allow participants in the TRON ecosystem to benefit by earning interest or borrowing against TRON denominated currencies,” said Justin Sun, founder of TRON and CEO of BitTorrent. “Cred has impressed us with their solid history of delivering returns, their strong understanding of risk management and regulatory expertise and their professionalism. We share the same vision of making financial services more fair, inclusive and transparent using blockchain technology.”
Cred lends on a fully guaranteed and collateralized basis. It offers interest rates on crypto assets and several fiat currencies. To earn interest on TRX, holders will send their digital assets to their CredEarn wallet for specified periods, and interest is paid quarterly in stablecoin. As a licensed lender operating in over half the US, Cred works with trusted, insured custodial partners. Cred also has one of the most comprehensive sets of crypto insurance policies available through Lockton, the world’s largest privately-owned, independent insurance brokerage firm.
“We’re thrilled to work with TRON to offer TRX holders the opportunity to earn interest and borrow on their digital assets,” said Dan Schatt, Cred’s co-founder and president. “TRON users, developers and partners will be able to conduct their financial services transactions using TRX and a variety of future Tron virtual currencies. Whether the market is up or down, customers can benefit from the liquidity they receive when obtaining a fixed amount of interest. Customers also benefit by receiving the full upside on the amount of crypto they originally committed.”