Ripple update: Cred Secures $50 Million Global Credit Facility to Lend Against XRP
“Cred, the leading provider of crypto-backed lending with over $300 million in credit facilities, today 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 when they visit [www.mycred.io](http://www.mycred.io) and click “Get Early Access.”
” 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. Cred’s LBA token is available in more than 180+ countries including the US.”
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
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