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.

Sep 8, 2020 at 4:00 p.m. UTC
Updated Sep 14, 2021 at 9:53 a.m. UTC

Crypto lending platform Cred has joined Visa’s Fintech Fast Track Program to speed up payments and borrowing, Cred said Tuesday. 

  • 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. 
  • In April 2020, Visa added shopping app Fold to its fast track program to issue a card that offered bitcoin rewards instead of points. 
  • Since then, two bitcoin lightning startups Strike and LastBit also joined the program.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
NFT Art Museums Are a Good Idea

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

The metaverse turns galleries global, and helps fund the arts. This article is part of “Metaverse Week."

CoinDesk - Unknown
2
CoinDesk - Unknown
How the US Can Establish Itself as a Crypto Leader

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

Regulators have an opportunity to map out thoughtful, strategic policy on stablecoins and beyond.

CoinDesk - Unknown
3
CoinDesk - Unknown
No, the UK Is Not Going to Make USDC and USDT Legal Tender

For “legalize” read “regulate.”

For “legalize” read “regulate.”

CoinDesk - Unknown
4
CoinDesk - Unknown
Thoughts From Davos

The crypto industry showed up in force at the World Economic Forum’s annual meeting.

The crypto industry showed up in force at the World Economic Forum’s annual meeting.

CoinDesk - Unknown