User:Integritas888/sandbox5

Cred is a crypto lending and investing company. The company was founded in 2018 by Dan Schatt and Lu Hua.

History
Dan Schatt, former Peace Corps volunteer in Romania and Senegalese bank executive, decided to get into crypto currency due to its ability to be a universal currency across borders and allow lending to those who otherwise would not qualify. Unlike a bank, Cred utilizes blockchain technology that bypasses the traditional networks of bank interoperability and credit technology. Schatt originally became interested in Crypto currency in 2012.

Products
The application was first released in California, Massachusetts, Missouri, and Montana. Once signed in, customers are able to invest in many major crypto currencies such as Bitcoin, Ethereum, Litecoin, and others as well. Customers were also able to take out loans from their digital currency, one of the first platforms to allow this. Cred has also introduced flexible interest payments, “supply chain lending”, and a point of sale system. Another of their products is called “the Universal Dollar”, a kind stablecoin that is pegged to the value of the United States Dollar and gives interest. This product was created through a partnership called the “Universal Protocol Alliance” which includes Cred, and several other electronic money platforms including Uphold, Brave, and Blockchain.

Reception
One of the fastest growing areas of the crypto currency market in late 2019 was the crypto lending sector, which saw Cred and similar platforms average 15% rates of return in the last three months of 2019.