Now You Can Get A Loan Against Ripple Currency (XRP)

Now You Can Get A Loan Against Ripple Currency (XRP)

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Answer Now You Can Get A Loan Against Ripple Currency (XRP)

This is another significant event for XRP holders. A financial firm has announced that it will provide loans in US dollars against XRP.

The cryptocurrency-based loan platform (CRED) is backed by Binance, Signal Ventures, DHVC and 15 other investors.

From now on, XRP holders who signed up for the platform do not have to sell their coins and incur unnecessary tax fees. Alternatively, they can mortgage XRP tokens and store them securely in “Cred” and in return, the platform’s C-LoC program provides them with the appropriate funding.

With the C-LoC program, XRP holders can easily get loans, and it all depends on the amount of coins they keep on the platform. Currently, users can easily borrow up to $100,000, all without having to sell their crypto holdings and avoid the hassle of filing tax returns in some countries.

Read:Bitcoin touches the level of 24 thousand dollars, and Ethereum maintains the level of 1500 dollars

In a statement, Cred co-founder Dan Schatt said he was extremely pleased with this announcement, and will continue to provide the same services to its customers as those offered to both Ethereum and Bitcoin holders.

He added, “We are pleased to offer our services to XRP holders with the same low rates and appropriate liquidity services as ETH and BTC holders. We look forward to continuing to support our many partners who support the Cred platform for the benefit of our users.”

Recently, Cred has partnered with (DCH) which has offices in the US, Australia and Korea. The company is a group consulting service for digital currency and blockchain with expertise in technology and asset management. This move will reach cryptocurrency holders across Australia and the (Oceania) region and they will then have better liquidity.

Read:Gemini acquires Omniex crypto company…Details here

The partnership was welcomed as Cred completed the Australian credit license application as it works to provide loans to ordinary consumers. Currently, the company offers corporate loans but since the license is still “under review” Cred is “open to business” for investment and business loan purposes.

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