Till yesterday CRED meant just a platform for paying your credit cards bills and earning rewards. It’s a fintech company based in Bangalore that allow its users to make credit card payments through their app for which they get rewards and cashback in return. Till now, Cred Cash was the dominant fintech leader having a loan book of 2415 crores but today CRED announced a new feature CRED MINT. CRED MINT is a new community through which its users could earn up to 9% interest while investing in the other trustworthy cred members. Before its launch, the team members of CRED used this feature and are enjoying the trust and the compounds that the feature possesses. Kunal Shah, its founder has announced that this feature is now open for everyone. He made this news public on Friday morning through his Twitter handle. Replying to this with a famous Ankur Warikoo, a leading investor also gave his opinion that cred’s high credit club mitigates the risk considerably.
Excited to announce CRED mint. Our first community product built on trust. You can now earn up-to 9% interest, while investing in other trustworthy CRED members. pic.twitter.com/uCbKUBvWdZ
— Kunal Shah (@kunalb11) August 20, 2021
He thinks of this as a potential replacement for AA/AAA, a corporate bond. Till now, other opinions are coming in in the blue bird app that says very few Indian companies focus on the design of the product and it’s good that the cred is the only one who is focusing on its the idea of design. It seems very interesting and exciting to everyone till now. CRED’s users are already using it and are excited to see how the feature unfolds. Some of them are even comparing it to the luxurious Apple brand. Till now the responses are all positive. We will further be ready for the responses of others but it already seems that this feature would be a great success.