Cred, an encrypted credit provider with over $ 300 million in lines of credit, today announced that it will provide USD loans, guaranteed by XRP. Ripple customers now have the option to save their long-term XRP without the need to sell or incur tax consequences.
"As a borrower, I appreciate the way the Believer responds to my needs and they continue to impress me with their ability to act as a trusted bridge between the traditional financial services ecosystem and the crypto community," he said. Mike Arrington, founder of Arrington XRP Capital and well-known Ripple investor. "Cred is successfully creating the next generation of loan and earning products and their recognition of XRP as an asset class is important."
Cred has assured over $ 300 million in total credits available for the loan. The company reports that cryptographic wallets and cryptographic exchange platforms are also integrating Cred's Crypto Line of Credit (C-LOC) platform. Recently, Cred announced that it will power earnings and borrow products for Universal Protocol Alliance and Uphold.
"We are thrilled to offer XRP holders the same low and low-cost cash services as ETH and BTC owners," said Dan Schatt, co-founder of Cred. "We are looking forward to continuing to support our many partners who are integrating the Cred platform to the benefit of their users".