Log In

 

Company Name : Cred

Friday, November 9, 2018 10:25AM IST (4:55AM GMT)

(BW)(CA-CRED)

Cred Secures $50 Million Global Credit Facility to Lend Against XRP


Ripple customers can now collateralize their XRP and receive USD loans


San Francisco, United States

Cred, the leading provider of crypto-backed lending with over $300 million in credit facilities, 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 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 Ripple investor. “Cred is successfully building the next generation of lending and earning products and their recognition of XRP as an asset class is important.”

 

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.

 

“We’re thrilled to offer XRP holders the same low rates and convenient liquidity services as ETH and BTC holders,” said Dan Schatt, Co-founder of Cred. “We’re looking forward to continuing to support our many partners who are integrating the Cred platform for the benefit of their users.”

 

About Cred

 

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. For more information, visit mycred.io or follow us on Twitter, Facebook and LinkedIn.

 

 

 

 


Click here for Media Contact Details
CONTACTS :

Cred
Meghan Gardler
Director of Marketing
meghan@mycred.io


More News from Cred

18/01/2019 2:26PM

A Better Way to Earn Interest on Digital Assets

Cred, the leading provider of crypto borrowing and lending with over $300 million in credit facilities, today announced the launch of CredEarn* on the Uphold platform. CredEarn allows Uphold customers to lend their ...

11/12/2018 2:06PM

Cred Opens Its Platform to Developers and Businesses

Cred, the leading provider of crypto-backed lending with over $300 million in credit facilities, today announced the launch of CredX, Cred’s developer platform, enabling any company or developer to turn their ...

07/12/2018 12:22PM

Cred and Universal Protocol Alliance Join Blockchain Advocacy Coalition (BAC)

Cred, the leading provider of crypto-backed lending with over $300 million in credit facilities and the Universal Protocol Alliance, creator of the Universal Protocol Platform, today announced that they will join the ...

Similar News

21/01/2019 9:20PM

Metabolon Appoints Michael Rasche as President of International Business

Metabolon, the world leader in metabolomics, today announced that Michael Rasche joined the company as President of International Business. Michael will report to Rohan Hastie, Metabolon’s President and CEO, and ...

No Image

21/01/2019 7:10PM

Bajaj Finserv Launches Republic Day Sale - Offers Attractive Cashback

Bajaj Finserv, through its digital subsidiary Bajaj Finserv Direct Ltd, announced the launch of its Republic Day Sale, offering an incredible cashback up to Rs. 2019 on every qualified purchase on its online EMI store.