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The main provider of encrypted credit in the world, Cred, which has a total of $ 300 million in credit lines, has announced today which will begin to provide loans in dollars that will be guaranteed using Ripple's XRP.
After the company completes the process, all Ripple customers will be able to use their XRP to save money in the long run without selling resources. Now, XRP holders in all countries working with Cred will be able to borrow from single-digit interest rates when they use this new early access feature on the company site.
"Cred is successfully creating the next generation of loan and earning products and their recognition of XRP as an asset class is important." Mike @arrington, Founder of Arrington XRP Capital and an important XRP investor. https://t.co/QKP1NSnfNn pic.twitter.com/bfRTiAxHIY
– CRED (@ihaveCred) November 8, 2018
Mike Arrington, the founder of Arrington XRP Capital, is a well-known investor in Ripple and believes that Cred is successfully creating the next credit world and that, by adding XRP as its new product, the company is taking on a very important asset class.
He also said he was always impressed by the fact that Cred is responsible for his needs as a consumer and that the company is always able to trust the company to be the bridge between what he wants and him, because it serves both the traditional financial asset community and this new ecosystem of the cryptic world.
Dan Schatt, the co-founder of Cred, said the company's staff are very excited to offer XRP owners the same low prices and liquidity they offer to other owners such as BTC and ETH, which are already compatible with the business. They also plan to update this support so that multiple tokens can be collateralised on the company system.
Information on Cred
Cred is described as a "decentralized global loan platform that facilitates open access to credit anywhere and anytime". Basically, it's the biggest blockchain-based credit company in the world right now. It was founded by a former veteran of PayPal and its mission is to use blockchain technology as a way to benefit all people who need credit.
Part of the reason why the company is so big and important is that it was able to get $ 300 million in credits through many facilities, which makes the money more than triple compared to the rest of the cryptic industry and shows the full potential of the company.
Currently, Cred is already available in over 180 countries, including the United States and most European countries.
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