Cred is excited to announce that XRP holders can now use XRP 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 crypto 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 crypto.
“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.”
What is a Crypto Line of Credit (C-LOC)?
A Line of Credit to Lift You to Your Potential
Want to buy a car? Fund your education? Start a small business? Buy a yacht? Now you can finally get the credit you deserve when you need it. A Cred crypto line of credit allows you to:
Spend Cash and Keep HODLing
Whether you want to diversify your assets to mitigate risk, defer capital gains tax (consult with a financial advisor or professional), or simply need money fast, a Cred loan makes your crypto work for you.
Cred accepts BTC, ETH and now XRP as collateral. Once you pay off your loan, you get your crypto back.