Huobi exchange partners with the crypto lending platform Cred

Huobi, a crypto exchange and wallet provider, has entered into a partnership with Cred, a decentralized crypto lending platform. The partnership will help Huobi users earn interest on their holdings. According to the official announcement made by the exchange, Cred’s lending and borrowing services will be fully integrated into the Huobi wallet soon. The wallet supports over 1,000 crypto assets, including eight stablecoins, for users across 200 countries and regions. Though the two companies did not provide a complete list of supported crypto assets, they noted that Bitcoin (BTC), Ether (ETH) and stablecoins such as Universal Dollar (UPUSD) would be part of the new offering.

Cred is a licensed lender and a founding member of the Universal Protocol Alliance - a coalition of crypto and blockchain companies. Regarding the new partnership, Cred CEO Dan Schatt said that the firm was keen to offer its decentralized financial services to users in these “times of financial instability.” 

Thanks to the partnership, Huobi users will now be able to lend their crypto holdings to receive monthly interest payments. They will also have the opportunity to roll over their pledged assets for additional periods of time. There isn’t any minimum requirement to participate in the program and the interest is payable in crypto assets. Users who hold $150,000 in their wallets can also build a custom program by consulting with Cred’s Private Client Associates.