In order for Litecoin (LTC) holders to enjoy financial services, Litecoin Foundation has announced today, 10th February, that it has partnered with Cred.
This automatically means Litecoin owners will be eligible to profit from this partnership by earning up to 10 percent interest on their digital assets.
The interest will be through any of Cred’s partners which include BitBuy, Litecoin Foundation, Uphold and Bitcoin.com.
Also, Litecoin holders will be able to dedicate to a six-month term and get monthly interest incomes.
Interestingly, they will have the choice to roll over pledged assets for the extra duration.
When staking Cred’s LBA utility token, customers will earn the best Cred prices.
Interest is paid out in cryptocurrency or fiat and no account minimum is required.
The reserves gathered from Litecoin and the Cred partnership will enable Litecoin development.
According to Charlie Lee, founder of Litecoin and Managing Director of Litecoin Foundation, they are happy to be partnering with Cred as their financial services partner.
“When assessing crypto, strong use cases should be one of the most vital deliberations,” stated Alan Austin, Director at Litecoin.
He added that asides Litecoin’s dependability, use for payments and outstanding liquidity, the capacity to receive interest at impressive rates through Cred’s platform enhances the use case.
He also said they are enthusiastic to be working with Cred to give this contribution.
The mission of the Litecoin Foundation is to progress Litecoin to make society better.
This is by improving state-of-the-art blockchain technologies mainly through Litecoin (LTC).
Cred, satisfying customers in about 190 countries is a licensed lender established in California. It is a top crypto-backed lending and borrowing platform.
Dan Schatt, CEO, and Co-Founder of Cred noted that they are pleased to collaborate with the Litecoin Foundation, which is one of the oldest and well trusted in the blockchain industry.
“We can’t wait to aid the millions of Litecoin wallet holders with a more transparent, fair set of financial services we have created, thanks to the advancement of blockchain technologies.”
Litecoin is a top global cryptocurrency with a coin market cap surpassing $3 billion. It is one of the most famous crypto in the world.
It is registered in Singapore and is composed of full time and volunteer support from all over the globe.
Litecoin, however, is different in terms of the hashing algorithm employed. It is a peer-to-peer cryptocurrency built based on the Bitcoin policy.
Cred is established by former PayPal financial technology veterans.
Its headquarters is in San Francisco Bay Area.
It is an international lending and borrowing platform that enables clear access to credit anywhere and anytime.
Cred converges a diverse team of entrepreneurial leaders, machine learning, and the power of blockchain technology.
By harnessing the power of blockchain, the goal of Cred is to enable anyone to benefit from superior financial services.