Cred, the platform associated with borrowing and lending cryptocurrency, has recently joined the Fast Track Program by Visa, says CryptoPotato. Thus, the platform can now use various features of the Visa company to make borrowing and lending easier. One of such features, according to the source, includes using Visa’s network to send interest payments to the bank directly.
Apart from that, CryptoPotato says, this will enable the company to issue certain credit cards (Crypto Line of Credit). With those, the customers will not have to liquidate their crypto to get access to a credit line. All these features are going to simplify the process of borrowing, lending and using cryptocurrencies by the customers.
Visa’s Fintech Fast Track Program aims at helping startups improve their payment solutions by working with Visa. The program offers incentives for qualifying startups, as well as a fast onboarding process and expert guidance from the company’s team.
Apart from Cred, another company that has recently joined the program is Checkbook. After becoming a member of the program, the firm launched a payment program called Virtual Cards. These cards aim to provide a way for customers to use a credit card without worrying about losing it. According to the source, clients receive a card number via email and can store the information to use it later.