Edge is pleased to announce a partnership with Cred, the leading global crypto-backed lending and borrowing platform, serving customers in over 190 countries. Through Cred, Edge users can earn up to 10% on their digital assets including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, XRP and more.
How It Works
Edge users pledge their digital assets to Cred for 6 months and earn interest on those assets every month. The principal will be held by Cred and repaid at the end of the 6 month period. However, users will be able to withdraw the interest earned every month or add the interest earned to their pledged asset balance.
There are no account minimums and users that stake Cred’s LBA utility token will receive the best rates Cred has to offer! Make sure to reach out to the Cred team to learn more about how to stake LBA so you can earn as much as possible on your pledged assets.
Cred is able to pay interest for your pledged assets by acting as a financial intermediary, meaning they lend out your assets on your behalf and charge interest to borrowers of your digital assets. The lockup period for your pledged assets is six months. After the six month term, you can have your principle redelivered or auto-enroll for additional three month periods.
Users effectively engage in a revenue share with Cred. Users loan assets to Cred and Cred loans those assets out to those willing and able to pay for the right to borrow your assets. Users earn interest for risking their capital and Cred earns interest for doing the hard work of connecting your capital with worthy borrowers.
Cred works with a few different collateral agents and leading custody partners, including BitGo, Bittrex Enterprise, and Ledger, to provide for the security of customer digital assets. During the loan term, Cred actively manages risk and employs hedging strategies to protect assets and ensure delivery of your assets back to you at maturity.
Cred also has insurance coverage through Lockton, the world’s largest privately-owned, independent insurance brokerage firm, spanning errors and omissions (E&O), and Cyber and Regulatory claim coverage. The assets will be covered for third-party hacks, physical loss or damage of private keys, insider theft by employees and other hazards.
Edge & Cred
We’ve wanted this type of functionality in Edge for a long time and we’re excited to partner with a great company like Cred.
“We’re excited to introduce our users to Cred, a company that shares our deep commitment to innovation, security, and risk management. Cred stood out to us for many reasons — the caliber of its team, the strength of its legal and regulatory infrastructure, its capital markets competencies, a proven track record of delivering returns, and its scale. Edge users now have the benefit of earning interest on their crypto via a secure and licensed financial services platform.”Paul Puey, CEO, and Co-founder of Edge
Digital assets have gone through rapid financialization over the last ten years, making it easier and easier to take advantage of all the tools that many are used to in traditional financial services. And this trend will only accelerate into the next decade and beyond.
“We are proud to partner with Edge, a true pioneer in the crypto ecosystem. While there are many wallets and exchanges on the market, it is rare to see a self custody solution as advanced as Edge. We look forward to supporting Edge’s continued growth and enabling Edge customers to lend and borrow in a secure manner.”Dan Schatt, CEO and Co-Founder of Cred
If you have any questions or concerns please reach out to our support team at email@example.com.
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