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Cryptocurrency-backed lender Cred now providing XRP-collateralized USD loans

Tony Zerucha

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Cred, a provider of crypto-backed lending, now provides USD loans collateralized by XRP.  Ripple customers now have the opportunity to save their XRP long term without the need to sell or incur tax consequences.   

“As a Cred borrower, I appreciate how responsive Cred is to my needs,” Arrington XRP Capital founder Mike Arrington said. “They continue to impress me with their ability to act as a trusted bridge between the traditional financial services ecosystem and the crypto community. Cred is successfully building the next generation of lending and earning products and their recognition of XRP as an asset class is important.”

Cred said it has secured more than $300 million in credit facilities available for lending. Recently, Cred announced it will be powering the earn and borrow products for the Universal Protocol Alliance and Uphold.  

“We’re thrilled to offer XRP holders the same low rates and convenient liquidity services as  ETH and BTC holders,” said Cred co-founder Dan Schatt said. “We’re looking forward to continuing to support our many partners who are integrating the Cred platform for the benefit of their users.”

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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