According to a latest press release, crypto exchange Binance joined hands with Cred, a decentralized crypto-based lending firm. The main aim of the partnership is to “spur the decentralization of finance”. More so, Cred will move a part of its ERC20 LBA tokens to Binance Chain, as per the partnership agreement.

The Chief Growth Officer at Binance stated that its tech would allow for swift, smooth and fluent transactions. For a stake in the tokens, the native token holders will get improved interest rates. As an investor and a partner in Cred, Binance will help Cred’s services in the crypto industry within the ecosystem of Binance.

Cred, the licensed lender based in California, has more than $300 million in lending capital. As a decentralized global lending platform the company enables anyone to acquire open access anywhere. Cred has previously announced partnerships with several leading organizations in the crypto community.