Cred Secures $50 Million Global Credit Facility to Lend Against XRP

XRP holders can now collateralize their XRP and receive USD loans

SAN FRANCISCO–(BUSINESS WIRE)–#ihavecredCred,
the leading provider of crypto-backed lending with over $300 million in
credit facilities, today announced that it provides USD loans,
collateralized by XRP. XRP holders 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 when they visit www.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 Ripple investor. “Cred is successfully building the next
generation of lending and earning products and their recognition of XRP
as an asset class is important.”

Cred has secured over $300 million in credit facilities available for
lending, 3x more than the rest of the industry combined. Leading crypto
wallets and crypto exchange platforms are integrating Cred’s Crypto Line
of Credit (C-LOC) platform to retain and delight their customers.
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 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.”

About Cred

Cred is a decentralized global lending platform that facilitates open
access to credit anywhere and anytime. Founded by former PayPal
financial technology veterans, Cred’s mission is to harness the power of
blockchain to allow everyone to benefit from low-cost credit products.
Cred’s LBA token is available in more than 180+ countries including the
US. For more information, visit mycred.io
or follow us on Twitter,
Facebook
and LinkedIn.

Contacts

Cred
Meghan Gardler
Director of Marketing
meghan@mycred.io

leverton

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