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Cred Teamed Up With Pro Basketball Player to Release Crypto lending-focused Platform

By Anne W. | March 21, 2020

Cred – crypto-focused lending and borrowing firm – has reportedly collaborated with pro basketball star Spencer Dinwiddie, to work on promoting crypto lending. 

Specifically, on March 20th, a webpage was established to support Cred-enabled activities for Dinwiddie’s fans, nominally to generate interest, reportedly up to 10% according to what Cred is advertising, on stablecoins and different crypto assets, as well as lending, via the collateralization of said assets. 

“This partnership comes at a critical time, where I can educate my fans on the power of cryptocurrencies and blockchain while they earn interest on their digital assets.” Dinwiddie shared his remarks regarding the development. 

Cred representative also disclosed that a partner page is the sole measure to enter the platform, without a concierge.

The website reportedly reads “lend and transact with a variety of customers, including retail borrowers and money managers with well-established track records.” 

Dinwiddie’s dashboard reportedly shows 6% to be the highest recorded interest rate for Bitcoin (BTC), and 8% in the same figure for TUSD, regarding non-Cred’s LBA token activities. 

The crypto assets will undergo a lockup period for the minimum of half a year, but the interest will be paid out in a monthly manner, in the form of fiat or digital coins. 

Previously, the crypto enthusiast Dinwiddie has released Dream Fan Shares – an Ether-powered tokenization platform, which aimed to roll out “Professional Athlete Investment Tokens” – enabling investors to buy securities correlated with the financial success of the athlete.

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