XRP Holders: Cred Offers Access to $50M in Credit Facility

1 min read

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.

Disclaimer: CredEarn is the trade name for a service offered to non-US persons by Cred LLC, which is an entity distinct and separate from Cred (US) LLC. CredEarn allows you to extend a loan to Cred LLC. The purpose of the loan is to allow you to earn an enhanced yield on your crypto assets, such as Bitcoin. Cred LLC is not a bank and CredEarn services are not insured by the FDIC. CredBorrow and C-LOC™ are trade names for lending products of Cred (US) LLC, a licensed lender and a wholly-owned subsidiary of Cred LLC. Loans, loan amounts, terms, and rates are not available in every jurisdiction, or for every collateral type. The availability of rates, crypto types, loan amounts, and other terms are subject to change. Loan applicants are subject to AML and KYC screening. Terms, conditions, and restrictions apply. Loans made or arranged pursuant to California Finance Lenders Law License 60DBO-58789.