Ripple News: Cred to provide USD loans against XRP

Global decentralized lending platform Cred announced that it provides USD loans, collateralized by XRP. Ripple customers now have the opportunity to save their XRP long term without the need to sell or incur tax consequences. XRP holders in several countries can borrow as low as single-digit interest rates by accessing the company website.

Cred has secured over $300 million in credit facilities available for lending, 3x more than the rest of the industry combined. Leading crypto wallets and crypto exchange platforms are integrating Cred’s Crypto Line of Credit (C-LOC) platform to retain and delight their customers. Recently, Cred announced it will be powering the earn and borrow products for the Universal Protocol Alliance and Uphold.

Cred is a decentralized global lending platform that facilitates open access to credit anywhere and anytime. Founded by former PayPal financial technology veterans, Cred’s mission is to harness the power of blockchain to allow everyone to benefit from low-cost credit products.