Cred Completes $50m Loan Deal

November 11, 2018
Cred Completes $50m Loan Deal

By Modupe Gbadeyanka

A leading provider of crypto-backed lending with over $300 million in credit facilities, Cred, said it it provides Dollar 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.”

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

Leave a Reply

Stock Market Newspaper
Previous Story

Stock Market Drops 0.09% Amid 39% Decline in Trading Volume

NNPC Sells $470m Crude Oil, Gas in One Month
Next Story

NNPC Sells $470m Crude Oil, Gas in One Month

Latest from Economy