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Crypto lending platform Cred joins Visa’s FinTech Fast Track Program

By Pavithra R

September 09, 2020

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Cred, a decentralized global lending platform that facilitates open access to credit anywhere and anytime, has announced that the firm has joined Visa’s Fast Track program, speeding up the process of integrating with Visa. 

Visa’s FinTech Fast Track Program provides both new and established businesses the ability to access Visa’s growing partner network and experts who can guide in helping them get up and running in the most efficient way possible.

“We’re excited to join Visa’s Fast Track program, which will further Cred’s mission of providing fair financial services and expand its lending and borrowing services in the most efficient way possible. Cred has always served as a bridge between traditional banking and blockchain-based financial services and having a direct relationship with Visa will enable the company to scale much more rapidly to support the significant growth occurring with digital asset lending,” said Dan Schatt, CEO, and Co-Founder of Cred.

Cred, by being a member, expects to leverage the reach, capabilities, and security that Visa offers. The firm will utilize several Visa capabilities to facilitate lending and borrowing of digital assets around the world, including sending interest payments directly to customer bank accounts through Visa’s network, issuing Crypto Line of Credit (C-LOC) cards that allow customers to access a credit line without liquidating their crypto assets, and an easy way to acquire digital assets using Visa payment products.

“As the preferred network for digital currency wallets, we are excited to help innovative fintechs like Cred harness the value of Visa’s network. Through the Fast Track program, we can support Cred with access to Visa’s experts, technology, and resources to scale with efficiency,” said Cuy Sheffield, Head of Crypto at Visa.

Recently, Bitcoin.com integrated Cred to its wallet, helping customers earn interest on their crypto.

Founded in 2018, by former PayPal financial technology veterans, Cred is a decentralized global lending platform that facilitates open access to credit anywhere and anytime. The FinTech’s mission is to harness blockchain’s power to allow everyone to benefit from low-cost credit products.

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