Huobi's cryptocurrency exchange Huobi Wallet has entered into a partnership with Cred, a licensed lender in California, to offer lending and borrowing services to its clients across the Asian economic market.
According to an official announcement, Cred's services will be fully integrated into the Huobi Wallet, offering the wallet's users the ability to earn interest on crypto assets including bitcoin (EXANTE: Bitcoin) and ether (ETH), stablecoins like the universal dollar (UPUSD), and many more "upon rollout."
"We are so excited to partner with Cred as we share a mutual vision to make our services more accessible to the users. And I believe our partnership will be further enhanced with their team experience and achievements in compliance," Huobi Wallet CEO He Huang said.
Thanks to the partnership, users of Huobi Wallet will reportedly be able to lend their cryptocurrencies and receive monthly interest payments, with the option to roll over pledged assets for additional periods.
Previously iHodl reported that Coinbase Wallet also made it possible for its users to lend out crypto and earn interest on decentralized finance (DeFi) applications.
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