- November 9, 2018
- Posted by: Jay
- Category: Cryptocurrency
Everyone is waiting for the ETF’s and institutional investors to show and stoke the next cryptocurrency bull run. And if you are lacking confidence that cryptocurrency is here to stay, you only need to read about Cred announcing that it would make fiat loans that collateralize against Ripple’s XRP.
It was reported in Ethereum World News that Cred released a statement announcing the launch of a $300 million credit facility in which holders of XRP token can use the cryptocurrency as collateral against loans.
Cred is an innovative lending company that already will loan against bitcoin and ethereum. Looking at the website, and their press release, they are committing $50 million dollars to loans against XRP which adds to the $240 million in lending dollars committed to bitcoin and ethereum.
The move continues to legitimize cryptocurrencies and gives stature to Ripple XRP among Bitcoin and Ethereum. It’s a big deal.