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- 12/11/18--00:36: Cred Opens Its Platform to Developers and Businesses
Business Wire India
Cred, the leading provider of crypto-backed lending with over $300 million in credit facilities, today announced the launch of CredX, Cred’s developer platform, enabling any company or developer to turn their products into powerful financial applications for their customers. Crypto exchanges, crypto wallets, miner service providers, even traditional financial institutions have the ability to access Crypto Lending as a Service (CLaaS™) and create a rich set of customer experiences for their customers.
“Lending and Earning Crypto are hard businesses to get right, particularly in a bear market,” said Dan Schatt, Co-Founder of Cred and the Universal Protocol Alliance. “A crypto custodian, wallet, merchant or exchange business can now offer their customers compelling credit and treasury management features built directly into their own apps, powered by Cred. Businesses can choose to use their own balance sheets, or leverage Cred’s to provide credit and earning services to generate revenue, customer retention, cost saves and receive an instant settlement. Companies can also place their BTC with Cred to earn substantial interest. We look forward to continually adding new functionality that will appeal to new and existing customers of crypto. Even traditional financial institutions can benefit.”
Cred’s APIs will allow businesses of every size affordable access to low-interest loans using crypto as collateral. The platform provides the simplicity and reliability needed to navigate the complexity of blockchain financial services. Some of the companies currently building CredX services and LBA token utility in their applications include:
Uphold – Uphold has over 1 million users around the world and has traded over $4.1 billion on its digital money platform and reserve ledger. Uphold customers will be able to borrow dollars against their crypto and earn returns on their stablecoins via Uphold Borrow and Uphold Earn powered by Cred.
Acre - Acre is a crypto investment application that enables micro-investing in cryptocurrencies. Acre demystifies and democratizes the cryptocurrency space, making the value of crypto projects accessible to everyday people. Acre’s customers will be able to collateralize their crypto to access low-interest rate loans and earn a return on their tokens.
Heleum: Heleum is a financial software company that has developed investment applications that automate the process of buying, selling and trading crypto and fiat pairs. Heleum will leverage the CredX platform where funds borrowed through Cred can be invested automatically through Heleum and allow users who stake their LBA to earn returns that can offset their loan interest and principal.
“Cred is creating the next generation of platform APIs for the crypto community, something that venerable companies such as PayPal and Stripe are not providing today,” said Scott Thompson, Former President of PayPal. “The future of financial services require a more open and transparent approach to FinTech, and Cred’s former PayPal team is well positioned to meet a market need.”
“I’ve always felt that distributed ledgers are a natural outcome of social media, blockchain and open source,” said Brett King, Author of Bank 4.0 and Co-Founder and CEO of Moven Bank. “Happy to see that lending and earning are emerging as an excellent set of application services on the CredX platform.”
“The CredX platform enables our company to build some products that are very exciting for our customers-- automated margin trading of fiat and crypto pairs, the ability to lower interest rates through LBA staking and the potential to generate income to pay back loans,” said Pace Ellsworth, Co-Founder, and CEO of Heleum. “We look forward to building many more future products with CredX.”
“We’ve been big fans of Cred from day one and foresee a huge opportunity to increase yields on crypto and fiat, and lower the cost of loans to Uphold customers in 180+ countries,” said JP Thieriot, Co-founder and CEO of Uphold. “Everyone wins when we can combine Cred’s best of breed credit and treasury management capabilities with Uphold’s crypto and fiat banking and investment services.”
“We believe crypto as an asset class will outperform traditional assets over the next 10 years, and our ability to tap into Cred’s platform to provide a combination of saving and investment features will provide more financial freedom and flexibility for our customers,” said Brendon McQueen, Co-Founder, and CEO of Acre.
Cred is a decentralized global lending platform that facilitates open access to credit anywhere and anytime. Founded by former PayPal financial technology veterans, Cred has secured over $300,000,000 of global lending capital. Cred’s mission is to harness the power of blockchain to allow everyone to benefit from low-cost credit products. Cred brings together a diverse team of entrepreneurial leaders, machine learning, and the power of blockchain technology. For more information, visit mycred.io or follow us on Twitter, LinkedIn, or join our community on Telegram.
Business Wire India
WaveOptics, the world leading designer and manufacturer of diffractive waveguides for use in Augmented Reality (AR) wearables, has raised $26 million (£20m) from existing shareholders and new investors.
This round was led by Octopus Ventures, one of WaveOptics’ largest shareholders and one of Europe’s most prominent venture capital firms. The fundraise was supported by other existing shareholders including IP Group, Robert Bosch Venture Capital and Gobi Partners, as well as new investors Goertek and Optimas Capital Partners.
Goertek is a global leader in the design and manufacturing of high-tech consumer electronics. Goertek’s investment is a significant development for the business and follows the announcement on 28 November 2018 that WaveOptics and Goertek have agreed an exclusive manufacturing partnership that will enable the global mass production of waveguides.
Based in Hong Kong, Optimas Capital Partners is a growth-oriented alternative investment platform. It seeks to identify and invest in cutting-edge technology globally and utilises its unique access to industry networks to create synergy and accelerate growth.
The capital raised will be used to scale up the business operations on a national and international basis. WaveOptics is building a large volume manufacturing supply chain to meet customer demand from Asia and US markets.
The business is also investing in its overseas infrastructure having recently opened offices in Los Angeles and Taipei and plans to open a new office in Beijing in 2019.
This first stage investment represents the largest AR hardware fundraise in Europe in 2018. WaveOptics is in advanced discussions with potential new shareholders and strategic partners regarding participation in a second stage.
David Hayes, WaveOptics CEO, commented:
“We have made excellent progress over the last year with our high performing, manufacturable, and versatile waveguides. We are now working with a wide range of leading global OEMs and ODMs as they ramp up the development of their products.
“These additional funds will enable us to scale up rapidly around the world, particularly in Asia and the US. This will include our ability to manage and support an increasing number of customers across different sectors. The market is gathering pace with AR wearables expected to become available in volume by the end of 2019.
“Securing Goertek as a shareholder is a key strategic development for us and a major endorsement of our technology. Their global market position will significantly expand our reach.
“We have seen a recent surge in interest from potential shareholders and strategic partners and anticipate closing further funding in the coming months.”
Simon King, Principal atOctopus Ventures, added:
“We are delighted to have led the first stage of this funding round, backing the fantastic team at WaveOptics as we believe the business is on track to become a leading UK-headquartered global tech business.
“WaveOptics has now established its position as the key optical technology provider to its global customers and partners. They are unique in their ability to build AR hardware solutions at scale to address the numerous opportunities in the emerging AR ecosystem.”
About WaveOptics - www.enhancedworld.com
WaveOptics is the world leading designer and manufacturer of diffractive waveguides, the key optical component in wearable augmented reality (AR) devices.
AR wearables, such as smart glasses, enable users to see computer-generated images overlaid on top of the real world. There are two key elements that allow these images to be seen – a light source such as a minute projector and a means of transferring the image from the projector into the user’s eyes.
WaveOptics’ waveguide technology transfers the light waves from the light source and projects them into the user’s eye. The technology produces a large eye-box, binocular viewing and a high field of view. The eye-box (the viewing window) is the size of the AR display from which the full image is visible. WaveOptics’ waveguides deliver crisp, undistorted text as well as stable imagery.
WaveOptics technology is designed to be used for immersive AR experiences in industrial, enterprise and consumer markets.
About Octopus Ventures
Octopus is a group of companies that invests in the people, ideas and industries that will help to change the world. Octopus Group are experts in smaller companies, renewable energy and healthcare infrastructure. Octopus Group currently manage more than £8.6 billion on behalf of their customers. Octopus Energy, Octopus Healthcare, Octopus Investments, Octopus Labs, Octopus Property and Octopus Ventures are all part of Octopus Group. Visit octopusgroup.com.