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Local Mayor Appointed as Director of Government Relations and Business Development at Cred

December 2, 2019

SAN FRANCISCO--(BUSINESS WIRE)--Dec 2, 2019--

Cred, the leading global crypto-backed lending and borrowing platform serving customers in over 180 countries, today announced Ally Medina has joined Cred to lead the company’s strategic government relations and business development initiatives.

Medina currently serves as the Mayor of Emeryville and Executive Director of the Blockchain Advocacy Coalition, an organization dedicated to educating legislators and regulators on blockchain technology. Medina has been a driving force in supporting Assemblyman Ting’s AB 953 bill to define stablecoin standards for use with California state tax collection and to eliminate the need for cash transactions. Mayor Ally Medina also formerly served as the Executive Director of the San Francisco Democratic party.

Mayor Ally Medina will continue her responsibilities as a city council member on a part-time basis as she takes on her new instrumental role at Cred. Medina will work with city, state and national governments to design legislation and ordinances that enable efficient tax collection, merchant lending solutions, and an assortment of blockchain financial services designed to increase economic empowerment and financial productivity.

“Ally is a mover and shaker. Her impactful work at the city, state, and national level to help author blockchain legislation that supports economic empowerment and equitable financial solutions is a unique match with Cred’s mission to provide fair, inclusive financial services to the world through blockchain technology,” said Dan Schatt, Co-Founder and CEO of Cred. “We are thrilled to have Ally lead Cred’s business development initiatives designed to offer cash intensive merchants and city tax collectors new financial operating systems designed to eradicate cash and make their money work smarter and harder. “

“I am thrilled to join Cred, a company full of financial technology veterans with a track record of bringing significant and practical innovations to market for public good,” said Mayor Medina. “Their clear mission of leveraging blockchain technology to make money work harder and smarter resonates strongly with me as does their leadership in forging strong partnerships with government and private sector participants.”

Mayor Ally Medina’s appointment follows demonstrated company performance, with Cred becoming one of the most trusted names in crypto lending and borrowing. Within the past year, the Bay Area-based company has vaulted to the top of its peer group and is considered a leading provider of crypto financial services. Cred has undertaken key licensing, insurance and regulatory work, and Cred services customers in 183 countries. The company is a founding member of the Universal Protocol Alliance, which aims to create interoperability among digital assets and foster a new level of transparent reserve management infrastructure to support the next billion users of crypto assets.

ABOUT CRED

Cred is a global lending and borrowing platform that facilitates open access to credit anywhere and anytime. Founded by former PayPal financial technology veterans, Cred has secured over $300 million of lending capital and is headquartered in the San Francisco Bay Area. Cred’s mission is to harness the power of blockchain to allow everyone to benefit with superior financial services. Cred brings together a diverse team of entrepreneurial leaders, machine learning, and the power of blockchain technology. For more information, visit mycred.io.

Disclaimer: Cred (US) LLC is a licensed lender and allows some borrowers to earn a yield on cryptocurrency pledged as collateral. That yield feature is sometimes referred to as “CredEarn.” Outside the United States, Cred LLC accepts loans of cryptocurrency from non-U.S. persons and pays interest on those loans. Neither Cred LLC nor Cred (US) LLC sell or offer to sell investments or securities; neither entity is a bank and no transaction or arrangement provided by either entity is guaranteed or insured by the FDIC or any other governmental entity. “CredBorrow” and “crypto line of credit” (abbreviated “C-LOC”) are trade names for lending products of Cred (US) LLC. This communication may not be used to offer or sell anything in any jurisdiction if doing so is not lawful. Loans made or arranged pursuant to California Finance Lenders Law License 60DBO-58789.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191202005737/en/

CONTACT: Nicole Wood

Cred Director of Communications

nicole@mycred.io

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: SOFTWARE NETWORKS INTERNET FINANCE DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY OTHER TECHNOLOGY

SOURCE: Cred

Copyright Business Wire 2019.

PUB: 12/02/2019 11:59 AM/DISC: 12/02/2019 11:59 AM

http://www.businesswire.com/news/home/20191202005737/en