Home / Crypto News / Owners of Ripple XRP can now use their coins as collateral

Owners of Ripple XRP can now use their coins as collateral

Owners of Ripple XRP can now use their coins as collateral Owners of Ripple XRP can now use their coins as collateral - ripple darlehen min

Ripple XRP is not only becoming increasingly popular with financial institutions. Now, users can also use their ripple coins as collateral for loans. This is possible through the US company Cred, which operates a decentralized credit network. Cred has announced on medium and via Twitter to immediately lend out loans whose security consists of Ripple XRP .

Cred's customers can borrow in US dollars without having to sell their Ripple XRP. At the same time, they avoid having to pay taxes by selling their coins. On Cred, users can get flexible and revolving crypto credit lines (“C-LOC”).

Cred's co-founder, Dan Schatt, said:

“We are pleased to offer [Ripple] XRP's owners the same low interest rates and convenient liquidity services that are already available to Ethereum and Bitcoin owners.”

Arrington XRP Capital's founder, Michael Arrington, was also thrilled with the new offer. He commented:

“As a cred borrower, I particularly like how quickly Cred responds to my needs. Cred always impresses me with its ability to act as a bridge between the traditional financial system and the crypto community … recognizing [Ripple] XRP as an asset class is an important step. “

Cred is a decentralized credit platform based on the Ethereum Blockchain. The platform is designed to provide open access to loans from anywhere, anytime. Cred was founded by former PayPal finance technology experts. To achieve its goal, Cred has a broad team of business leaders, machine learning skills and the power of blockchain technology. The company maintains field offices in San Francisco, Shanghai, Singapore, Sydney and Munich.

In October 2018, Cred announced an important partnership with Uphold. Uphold is a large, cloud-based platform for financial services. It has already carried out $ 1 billion worth of transactions in 181 countries. As a result of the cooperation, two modern consumer products are to be developed on a blockchain basis. These products should be called “Uphold Earn” and “Uphold Borrow”.

Via Uphold Earn, users can lend their cryptocurrencies and receive 2 to 5 percent interest. Borrowers in turn have access to flexible loans with low interest rates up to 9 percent.

Next, both companies, along with other partners, have issued a new stablecoin called Universal Dollar. The CEO of Uphold, J. P. Thieriot, told Forbes:

“Typically, the average consumer was skeptical of cryptocurrency for two reasons. These are the volatility and the fear to lose the private key and thus his money. Universal Dollar helps solve both problems. “

Owners of Ripple XRP can now use their coins as collateral Owners of Ripple XRP can now use their coins as collateral -

Sources: Medium, Chepicap, Forbes, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/owners-of-ripple-xrp-koennen-yhre-coins-jetzt-als-kreditsicherheit-verwenden/

Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for entertainment and information purposes only. We are not an investment advisor and do not provide financial advice.

We can not review all articles posted on CoinNewsDesk.com. Please independently research and verify any information here before relying on it as fact. It's also important to do proper due diligence and analysis, including consulting a professional financial advisor. No content on Coin News Desk makes any recommendation to enter into any type of investment or engage in any investment strategy on this website.

About Coin News Desk Team