Tron crypto holders can now earn 10% interest on their TRX holdings
Tron and Cred, the crypto lending startup have come together and allow TRX holders to earn an interest of 10% annually.
Tron one of the largest blockchain protocols which offer high availability for all DApps, TRX is their native token and is the 10th largest crypto asset market capitalization.
Cred, which is a decentralized global lending platform allowing issuers of stablecoin, exchanges, and wallets to lending and earns services. The lending of the firm is based on a complete guaranteed and collateralized basis which offers interest on crypto assets and fiat currencies as well. Cred is based out of San Francisco.
Cred will be offering TRX holders a 10% annual return and in addition, it will also give crypto-backed loans towards the TRON community in order to support the development of the TRON ecosystem.
In the words of, Justin Sun, founder of TRON and CEO of BitTorrent said:
“TRON’s partnership with CRED will allow participants in the TRON ecosystem to benefit by earning interest or borrowing against TRON denominated currencies.”
He also added:
“Cred has impressed us with their solid history of delivering returns, their strong understanding of risk management and regulatory expertise and their professionalism. We share the same vision of making financial services more fair, inclusive and transparent using blockchain technology.”
TRX holders will have to deposit their cryptocurrency in the CredEarn wallet for a mentioned period of time and they would receive interest quarterly in stablecoins.
According to Dan Schatt, co-founder, president, Cred said:
“TRON users, developers and partners will be able to conduct their financial services transactions using TRX and a variety of future Tron virtual currencies. Whether the market is up or down, customers can benefit from the liquidity they receive when obtaining a fixed amount of interest. Customers also benefit by receiving the full upside on the amount of crypto they originally committed.”
