By John Yearwood
Amid a dramatic Bitcoin bull run, two of the most influential names in the blockchain finance industry have launched a platform to expand global lending and earning on investments in cryptocurrency.
The partnership between Bitcoin.com and Cred allows Bitcoin.com customers to earn up to 10 percent interest on Bitcoin and six percent on Bitcoin Cash invested with Cred, the companies said.
Customers with investments over $25,000 have been benefiting from the partnership for the last few months but it opens to all users, regardless of investment size, on July 15, 2019.
“We’re thrilled to offer Bitcoin.com customers the opportunity to earn interest on their digital assets,” said Dan Schatt, co-founder and president of Cred, a Silicon Valley-based decentralized global lending platform that facilitates open access to credit anywhere and anytime.
A major feature of the program is that interest will be offered in a customer’s choice of Bitcoin, Bitcoin Cash or Cred’s LBA Token. This new offering is a departure from only earning interest in USD and is based on community feedback asking for more interest options. It gives customers more freedom when it comes to reinvesting earned interest, Schatt said.
“Customers benefit by receiving the full upside on the amount of crypto they originally committed,” he said.
Bitcoin has surged by double digits this year, with the coin at one point pricing above $13,000 before retreating. Bitcoin.com, based in Tokyo but with offices around the world, is the leading source for Bitcoin information with more than four million Bitcoin wallets.
“At Bitcoin.com, we believe borrowing and earning services like Cred are a natural next step for Bitcoin wallet holders and will be very attractive to users of Bitcoin Cash,” said Roger Ver,