Nets’ Spencer Dinwiddie announces partnership with Cred

SAN FRANCISCO, March 20, 2020 — NBA Star, entrepreneur, and philanthropist Spencer Dinwiddie and Cred, a California based licensed lender, have launched an exclusive partnership that will offer an alternative to traditional banking and allow NBA fans to earn interest on stablecoins and other crypto assets. Stablecoins are crypto assets that are pegged to something stable, such as the US Dollar, and are very popular when financial markets are highly volatile. Customers in need of liquidity can also pledge crypto assets as collateral to obtain loans. A portion of the revenue generated from the partnership will be reinvested into the Dinwiddie Family Foundation, which provides college scholarships to disadvantaged and at-risk youth. Starting today, individuals will earn up interest on their digital assets through the Spencer Dinwiddie & Cred partnership website.

"It’s important for me to bring value to my fans both on and off the court," said Spencer Dinwiddie, Brooklyn Nets Guard. "I believe blockchain can radically reshape the nature of financial services for the better, and the Cred team is well-positioned to make this happen. I believe in Cred’s mission to provide more equitable and inclusive financial services to people, leveraging blockchain technology, and their team has unmatched expertise in capital markets, blockchain, and traditional financial services. This partnership comes at a critical time, where I can educate my fans on the power of cryptocurrencies and blockchain while they earn interest on their digital assets."

"While Spencer Dinwiddie might be best known for his star power on the court, we here at Cred are proud to partner with such a dedicated entrepreneur," said Dan Schatt, CEO and Co-Founder of Cred. "We’re thrilled that Spencer is using his platform to bring awareness of the power of blockchain to make money work harder and smarter in challenging market conditions and we are delighted to support Spencer in our collective mission to democratize financial services through blockchain."

As an athlete, entrepreneur, and investor, Spencer Dinwiddie has successfully launched several businesses by the age of 26. In January 2020, Dinwiddie launched an Ethereum-based platform called DREAM Fan Shares, placing him at the forefront of the cryptocurrency industry.

On the basketball court last season, Spencer Dinwiddie averaged 16.8 points and 4.6 assists per game emerging as one of the league’s top guards. The University of Colorado standout has also established the Dinwiddie Family Foundation which works with the United Negro College Fund (UNCF) to provide college scholarships to students in Los Angeles, California, or Brooklyn, New York.

The Spencer Dinwiddie and Cred strategic partnership gives digital asset holders the ability to earn up to ten percent interest on Bitcoin, Litecoin, Ethereum, and more by visiting the Spencer Dinwiddie & Cred partnership website. Digital asset holders can commit to a six-month term and receive monthly interest payments, with the option to roll over pledged assets for additional periods. No account minimum is needed and interest is paid out in fiat or cryptocurrency.