Leading digital currency exchange of the crypto industry, Binance has joined Cred-the crypto the decentralized financial platform, in a quest to mainstream the adoption of cryptocurrency and promote decentralization of finance.
The reports stated that in according to the collaboration agreement, an unrevealed amount of ERC20 LBA Tokens would be transferred by Cred to Binance Chain.
Binance Chain is an Ethereum substitute that seeks to resolve some of the inadequacies of cryptocurrency, Ethereum.
Ted Lin, Cheif Growth Office of Binance, stated that its tech would allow for swift, smooth and fluent transactions. For a stake in the tokens, the native LBA token holders would get improved interest rates.
As investor and partner in Cred, Binance will also be supporting Cred’s services in the crypto industry within the ecosystem of Binance.
It is worthy to note that Cred is a California based registered lender, and it has secured over three hundred million dollars ($300 million) in lending capital.
As a decentralized global lending platform Cred enables anyone to acquire open access anywhere. The firm previously partnered with Bitcoin.com TrueUSD Tron, Coinbit, and Uphold.
Back in last October, Cred collaborated with Big Four auditing firm PricewaterhouseCoopers to float the US dollar backed Stablecoin.