XRP holders can now collateralize their XRP and receive USD loans
Cred is excited to announce that XRP can now be used as collateral to access our crypto line of credit (C-LOC™️). With the addition of XRP to Cred’s collateral options, XRP holders in need of liquidity can simply borrow against the token instead of selling.
XRP holders in several countries can borrow as low as single-digit interest rates when they visit mycred.io and click “Get Early Access.”
“As a Cred borrower, I appreciate how responsive Cred is to my needs. They continue to impress me with their ability to act as a trusted bridge between the traditional financial services ecosystem and the crypto community,” said Mike Arrington, Founder of Arrington XRP Capital and well-known XRP investor. “Cred is successfully building the next generation of lending and earning products and their recognition of XRP as an asset class is important.”
XRP hodlers can gain access to flexible and revolving Crypto Lines of Credit (C-LOC™️) through the Cred platform (register now for early access). Our strategic partner Uphold will also be releasing Borrow and Earn empowered by Cred in the next few months. XRP is still in the beginning stages of development and analysts have said it is the most undervalued cryptocurrency on the market. If you want to keep your investments and take advantage of a potential upswing, taking a loan with Cred allows you to tap into the value of your crypto without sacrificing the potential of your investment.
(Image Source: Medium/Cred)