The Litecoin Foundation today announced a “strategic partnership” with Cred, a licensed San Francisco-based crypto lending and borrowing company that has over $300 million in lending capital. As of today, Cred is integrated into the Litecoin app, and it promises up to 10 percent per year in interest for any funds staked. Reportedly, the funds generated out of the Litecoin Foundation and Cred partnership will all be utilized toward the development of the Litecoin project.
Litecoin is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. It has a supply limit of 84,000,000 LTC and was initially released on October 2011.