Huobi Wallet now supports crypto-lending

The Singaporean group Huobi collaborates with the Californian lender Cred in order to offer the possibility to its users to lend their cryptocurrencies and generate interests directly from his wallet Huobi Wallet.

In a press release, the portfolio provider Huobi Wallet announced a partnership with Cred, a California-based crypto-lender founded by a former chief financial officer of PayPal.

We are delighted to partner with Huobi, a very popular cryptocurrency wallet in Asia. In this time of financial instability, we are pleased to be helping a strong and reputable company, "said Dan Schatt, CEO and co-founder of Cred.

Users of the Huobi wallet will therefore be able to easily access savings products of Cred, which allow you to lend Bitcoin, Ethereum or even stablecoins, and generate interests each month.

Huobi recently launched the testnet of its new blockchain. Baptized Huobi Chain, it aims to provide a DeFi application development infrastructure for financial institutions.

At the start of the year, the foundation Litecoin has also partnered with Cred to offer their savings products to litcoiners. Other big players like Binance and BitGo have also started offering crypto lending to their customers recently.

Among the main competitors of Cred, we can notably cite BlockFi, which recently raised $ 30 million in a Series B financing round led by Valar Ventures.