Visa Adds Crypto Lender Cred to Fast Track Payments Program
Decentralized lending platform Cred is the latest crypto firm to join Visa’s Fintech Fast Track Program with the goal of scaling faster.
- According to the statement, entry into the fast track program will allow Cred to “more easily leverage the reach, capabilities and security that Visa offers."
- By integrating its services with Visa, Cred can send interest payments directly to customer bank accounts in Visa’s network as well as issue crypto credit cards that will let customers access a line of credit without having to liquidate their crypto assets.
- On Tuesday, Cuy Sheffield, head of crypto at Visa, tweeted the firm's endorsement of Cred saying the program will help Cred utilize Visa's solutions to "improve the process of interest disbursements as well as create new crypto credit products."
- The Visa Fintech Fast Track Program, launched in the U.S. in July 2019, works as a vehicle for innovative fintech startups to leverage Visa’s vast network, resources and services to scale quickly.
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