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Binance partners with crypto lending platform Cred

A new partnership has been announced between Binance and crypto lending platform Cred. Cred will be migrating some of its ERC-20 tokens to Binance's own network, Binance Chain.
Binance partners with crypto lending platform Cred
The Cred project has secured over $300 million in lending capital, and has received financial backing from Binance Labs as well as Arrington XRP Capital. Its crypto, Cred (LBA) is currently ranked 186th by market cap, which stands at $25.2 million. The token is available on OKEx and Huobi, amongst other exchanges, and was recently listed on South Korea's top exchange Bithumb. On Huobi, LBA is up over 11 percent against USDT for the 24h period.
LBAUSDT chart by TradingView
The LBA token developed for the Cred platform allows holders of different cryptos to lend them out to other traders to earn interest, which is paid out in stablecoins. Cred will be moving LBA from the Ethereum blockchain to Binance's new Binance Chain. The improved transaction times on the Binance Chain are apparently a key motivating factor behind this decision, as well as Binance's continued support for the Cred project.
Thank you @binance and @cz_binance for your support of @ihavecred! We’re happy to be the first crypto lending project on Binance Chain. We look forward to continuing our partnership on many future projects.http://bit.ly/2Mjfctw 
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According to Ted Lin, Chief Growth Officer of Binance, "We are delighted to be working with Cred to help scale their efforts to more markets and users around the world through the power of the Binance Chain, which has a one-second block time and will ensure transactions and interactions by Cred’s users will be fast, efficient and effortless".




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