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A new financial solution called CredEarn<\/b> has launched today, and it allows holders of various assets \u2013 including cryptocurrencies bitcoin (BTC)<\/b>, ether (ETH)<\/b> and XRP (XRP)<\/b> \u2013 to earn interest on their holdings.<\/span><\/p>\n The company behind the CredEarn<\/b> innovation is blockchain-powered global lending network Cred<\/b>, whose ERC20-compliant LBA<\/b> token can be used for accessing and using Cred platform services \u2013 which eventually will include crypto-to-crypto lending.<\/span><\/p>\n The only way to access CredEarn is via the exchange feature offered through Uphold<\/b>, a fintech startup that, along with Cred and two other blockchain-friendly entities (i.e., Brave<\/b> and Blockchain at Berkeley<\/b>), founded the Universal Protocol<\/b> alliance last August (see: whitepaper v5.3<\/span><\/a>).<\/span><\/p>\n The announcement \u2013 made jointly by Dan Schatt (Co-Founder & President, Cred LLC)<\/b> and J.P. Thieriot (CEO, Uphold)<\/b> \u2013 was broadcast to the public via a Periscope livestream early Thursday evening. In highlighting just how significant the launch of CredEarn is for asset holders around the world, Schatt stated that:<\/span><\/p>\n For the first time in 183 countries around the world, Uphold customers now have the opportunity to earn on their crypto and several [other] digital assets.\u201d<\/i><\/span><\/p>\n<\/blockquote>\n Regarding the annual percentage yield (APY)<\/b> being offered through CredEarn, Uphold members will earn varying amounts based on the type of digital asset they decide to loan to Cred. Unsurprisingly, the largest APY (i.e., 10%) relates to BTC-denominated loans. Other APYs currently offered through CredEarn are 5% (XRP) and 3% (ETH, USD, EUR, and GOLD). The minimum earn period is six months<\/b> with the option to renew in six-month increments at the term end. Interest payments are made quarterly.<\/span><\/p>\n Whilst the United States is not<\/b> one of the 183 countries CredEarn is available in at the time of launch, Uphold stated on their official Twitter account<\/span><\/a> that the Cred team \u201cis working on\u201d making their new product available to U.S. residents. They stopped short of providing a timeframe, however, adding that such a development is \u201ccoming soon!\u201d Wording found in Uphold\u2019s FAQ section was somewhat clearer, with this answer<\/span><\/a> revealing CredEarn is currently expected to be made available \u201cto the U.S. market in the coming months.\u201d<\/span><\/p>\n CryptoCoinSpy readers can watch the full replay of Thursday evening\u2019s Periscope livestream below:<\/span><\/p>\n https:\/\/t.co\/JdEcJYkzSt<\/a><\/p>\n \u2014 Uphold (@UpholdInc) January 18, 2019<\/a><\/p>\n<\/blockquote><\/div>\n\n
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