Cred, a global digital asset lending and borrowing platform, has announced that the firm has joined Visa’s Fast Track program, speeding up the process of integrating with Visa.
According to co-founder and CEO of Cred, Dan Schatt, the firm’s acceptance into Visa’s program would allow Cred more leverage on the market reach, capabilities, and security that Visa offered.
This means that the partnership included sending interest payments directly to customer bank accounts through Visa’s network, issuing Crypto Line of Credit (C-LOC) cards that would allow customers to access a credit line without liquidating their crypto assets.
“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,” said Dan Schatt, CEO and Co-Founder of Cred. “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.”
“As the preferred network for digital currency wallets, we are excited to help innovative fintechs like Cred harness the value of Visa’s network,” said Cuy Sheffield, Head of Crypto at Visa. “Through the Fast Track program, we can support Cred with access to Visa’s experts, technology, and resources to scale with efficiency.
