Crescent
Crescent Technical Briefing
Published June 14, 2022
Supported by Modern Treasury , IowaEDA and Brale
Overview
Crescent demos a high-yield treasury product for businesses — live in production V1, newly serving its first publicly traded customer, backed by USDC over-collateralized lending desks with zero exposure to Terra/Luna or Celsius and $30B of originations through its partners. The dashboard compounds interest every second, breaks earnings down by lifetime/year/month, and exposes admin controls for teams (plus easy switching between accredited individual and multiple business accounts, appealing to investment advisors). Because Crescent bridges fiat to USDC to lending desks, it natively supports wire and USDC deposits (ACH via Plaid coming soon) — the demo wires USDC from MetaMask into a Crescent account. Yield is accrued fungibly 1:1 in USDC/dollars at a ~4% sustainable rate. Despite looking like fixed income, Crescent accounts are fully liquid: next-day withdrawals initiate a wire, with Crescent pulling from fully-liquid lending pools, converting USDC to cash, and using bank credit lines to guarantee next-day settlement at zero fees. The roadmap is a yield marketplace: traditional cash sweeps, Treasury/mutual-fund products, and crypto yields — Crescent as the composable middle layer between businesses and yield sources.
0:00 Introduction to Crescent — high-yield treasury product
Crescent is a high-yield treasury product for businesses, bridging cash into alternative yields — anywhere from cash management to USDC-based over-collateralized lending through the largest crypto lending desks (with zero exposure to Terra/Luna or Celsius, no defaults, and $30B of originations through their partners).
0:30 Live V1 dashboard — balance accrues by the second
The V1 dashboard is intentionally minimal: total balance, earnings compounded every second, transactions, and a clean statement UI. Crescent serves everything from startups to a newly-onboarded publicly traded company.
1:00 Admin controls and multi-account switching
Admin controls let enterprise customers define who can move funds. Users can switch between accredited-individual accounts and multiple business accounts — appealing to investment advisors managing funds on behalf of many business or accredited clients.
1:30 USDC deposit from MetaMask
Crescent bridges fiat on/off-ramps and crypto rails. A live USDC deposit from a MetaMask wallet shows the USDC-based on-ramp — built specifically for crypto treasuries and DAO treasuries depositing from their operating wallets.
2:30 Yield accrued 1:1 in USDC / dollars
Deposit rails today include wire and USDC, with ACH via Plaid launching soon. All yield is accrued fungibly 1:1 in USDC / dollars at a 4% sustainable rate arrived at with the over-collateralized lending partners.
3:30 Fully liquid next-day withdrawals
Despite looking like a fixed-income instrument, the account is fully liquid — next-day in and out. Withdrawals initiate a wire; on the back end Crescent pulls from fully-liquid lending pools, converts USDC back to cash, and uses credit lines to guarantee next-day timing with zero fees.
4:30 Yield marketplace — composable yield platform
The roadmap: a yield marketplace where customers self-direct across traditional cash sweeps, mid-risk Treasury/mutual fund products, and crypto yields — positioning Crescent as the composable middle layer between businesses and yield sources.
Presented by Grant Roscoe — Crescent · LinkedIn · website
Topics: Treasury, Yield & Interest, Stablecoins
