TrustToken and Cred Partnership Offers up to 8% Return on TrueUSD
SAN FRANCISCO--(BUSINESS WIRE)--Mar 26, 2019--TrustToken, the creator of TrueUSD, announced a strategic partnership with Cred, the leading platform of crypto-backed lending and borrowing services. Cred’s earning platform was chosen because of its significant experience with tokenized lending and borrowing, the team’s credibility and track record, having amassed over $300 million in lending capital and Cred’s significant customer base, with Cred customers now enrolled in over 127 countries. Through CredEarn, TrueUSD holders can earn up to 8% annualized interest on TrueUSD fully collateralized 1 to 1 with the US dollar. TrueUSD is now available on CredEarn worldwide including 29 US states, with no minimum investment amount and zero fees to participate.
“We are excited to partner with Cred as the trusted earning solution for TrueUSD users,” said Tory Reiss, Co-Founder and Head of Product and Business Development for TrustToken. “Over the last year, we’ve been focused on building the bridge between traditional finance and the digital asset ecosystem, with TrueUSD as the first proof of concept. As we move into our second year of operation, our goal is to provide more valuable opportunities to utilize these assets. We’re happy to be advancing this mission together with the Cred team!”
To participate and earn interest on TrueUSD, holders can now send their TrueUSD funds to their CredEarn wallet and commit their funds for a period of six months. Interest is paid quarterly in TrueUSD, and users have the option to auto-renew for additional 3 months periods at the end of the term. Cred is focused on the safety and security of their customers’ funds, working with leading custody partners including Uphold, Bittrex Enterprise, and Ledger. Cred is also partnered with insured custody providers such as BitGo which insures customer assets up to $100 million.
“We are happy to be partnering with TrustToken to allow their holders to put TrueUSD to work,” said Dan Schatt, Cred Co-founder & President. “Cred’s mission is to offer more equitable, inclusive financial services using blockchain technology and we’re thrilled to make TrueUSD a part of Cred’s supported assets.”
TrustToken is creating a more efficient and inclusive global financial system by digitizing assets that can be seamlessly and securely exchanged across liquid markets worldwide. TrueUSD [TUSD], a stablecoin redeemable 1-for-1 for U.S. dollars and the industry’s pioneer in using third-party trust companies and independent accounting firms, is the first product on TrustToken’s platform. TUSD offers the transparency, liquidity, and redeemability required in the crypto- economy, and it has the most traded of all fully-collateralized and independently validated stablecoins. TUSD is listed on more crypto-exchanges – including Binance, OKEx, DigiFinex, Bittrex, and Huobi – than any other product in its asset class. For more information, visit www.trusttoken.com.
Cred is a decentralized global lending and borrowing platform that allows stablecoin issuers, exchanges and wallets to provide valuable earn and lending services worldwide. Based in San Francisco and founded by former PayPal financial technology veterans, Cred has secured over $300 million of lending capital. Cred’s LBA utility token, available on Bittrex, OKEx, Huobi and many other exchanges, allows customers to benefit from its financial services products. Cred brings together a diverse team of entrepreneurial leaders, machine learning, and the power of blockchain technology. For more information, visit https://earn.mycred.io/trueusd, follow us on Twitter or join our community on Telegram.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190326005336/en/
CONTACT: David Steinrueck
Marketing & Communications Manager, TrustToken
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES
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PUB: 03/26/2019 08:00 AM/DISC: 03/26/2019 08:00 AM