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Cryptocurrencies

Binance, Cred to work on decentralised financial services and LBA

Thursday 30 May 2019 | 12:30 PM CET

Cryptocurrency exchange Binance and crypto lending and borrowing platform Cred have agreed to work together to spur the decentralisation of finance.

As part of this partnership, Cred will migrate a portion of its ERC20 LBA tokens to Binance Chain, thus becoming the official lending and borrowing platform for the DeFi ecosystem.

Cred enables crypto wallet providers, custodians, exchanges, and crypto application providers to offer competitive lending and borrowing rates in the industry. In 2019, Cred has announced partnerships with several influential organisations and custodians in the crypto community. Also, the company’s LBA holders will be able to commit their crypto to a fixed term, as well as to rollover assets for additional periods. When staking Cred’s LBA token, no account minimum is needed, and interest is paid out in stablecoin. The principal is paid back in the crypto amounts that were initially received.

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