Cred, the decentralized lending platform, said it has secured a $50 million credit facility to make dollar loans backed by ripple (XRP).

In its press release Cred said 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” through www.mycred.io.

“We’re thrilled to offer XRP holders the same low rates and convenient liquidity services as [ether] (ETH) and [bitcoin] (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.”

ThirtyK Staff
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