San Francisco-based crypto lending and borrowing platform cred has signed an agreement with an American professional basketball player for the Brooklyn Nets of the National Basketball Association (NBA) Spencer Dwindle to promote its 10% annual interest offers.
Cred took to the Twitter to announce the news on Friday, March20. The Cred has also created a new page featuring Spencer Dwindle. The partnership intends to attract Spencer’s fan to the platform.
The announcement for Cred reads:
“We are beyond excited to welcome our newest partner – philanthropist, entrepreneur and NBA superstar Basketball, Spencer Dinwiddie @SDinwiddie_25. @NBA fans, learn how you can now earn interest on your #stablecoins and other #crypto assets: https://mycred.io/dinwiddie ”
The platform offers CredEarn that enables holders of digital assets digital assets to earn interest on popular cryptocurrencies like LTC, BTC, BCH, TUSD, BAT, LBA and more. User can pledge their digital assets through a set maturity date and can earn up to 10% interest annually. Interest will pe paid monthly and in crypto or stablecoin chosen by the users. The platform requires the locking the assets up for at least six months.
According to other reports, the part of revenue from the project will go to the Dinwiddie Family Foundation. The platform also offers lending services by collateralizing the user’s crypto assets.
Cred, founded by former PayPal veterans Dan Schatt and Lu Hua, is a global financial services platform serving customers in 183 countries. The platform allows its customer to earn a yield on more than 30 crypto and fiat currencies through its partner network.
Cred is also a founding member the Universal Protocol Alliance (the UP Alliance), a coalition of the world’s leading blockchain companies working to create the future generation financial infrastructure needed to support the next 100 million users of crypto.
Commenting about the partnership, NBA superstar said:
“You all know I’m very passionate about financial education and digital assets, so I’m excited to announce my partnership with @ihaveCred. Cred is a blockchain-based finance platform that allows you to earn interest on your digital assets.”
“It was important for me to partner with a team that had ample experience in the payments space and offered a product with no minimums to make this as accessible as possible to all. I hope this product can help you preserve and build wealth during these challenging times.”