Cred to enable in-app staking through Klever wallet

Published at: Aug. 31, 2020

Cryptocurrency wallet platform Klever will allow users to stake Bitcoin (BTC), Ether (ETH), Tron (TRX) and other cryptocurrencies in Cred’s staking programs from within the wallet.

Cred is a cryptocurrency staking and lending platform that allows users from across 190 countries to lend their cryptocurrency funds in return for monthly rewards in stablecoins, cryptos and fiat currencies. 

The new feature will allow Klever users to opt for any of the staking programs listed on Cred in return for monthly rewards. Once the in-app staking goes live, it will allow users to stake Bitcoin, Ether, and Tron without having to hold any minimum threshold. 

Users will also be able to choose whether they prefer to receive the monthly interests in ERC-20 stablecoins or other cryptocurrencies such as BTC, ETH, TRX, Chainlink (LINK) and Basic Attention Token (BAT).

Both companies are working with a revenue-sharing model, meaning Klever would keep a commission for facilitating the staking process for its users with Cred, CEO of Cred, Dan Schatt, explained.

Misha Lederman, Director of Communications and Marketing for Klever, said that initially, users will not be able to receive rewards directly in fiat currencies, as is possible on Cred. But they will be able to do so in the coming months after the launch of their new product Klever Bank.

In addition, Klever would now also allow its users to swap Cred’s utility token LBA for BTC, TRX, ETH, Tether (USDT) and Klever’s native token KLV.

While currently Klever only supports three public chains — Bitcoin, Ethereum and Tron — Lederman revealed that the platform will add support for more chains including Litecoin (LTC), DigiByte (DGB), DogeCoin (DOGE), EOS (EOS), Stellar (XLM), Bitcoin Cash (BCH) and XRP. Furthermore, he said cryptocurrencies supported on these blockchains “will be available in the future for staking with Cred inside the Klever App.”

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