Ripple Rips Old School Payments Industry As XRP Hits $300 Million Crypto Lending Platform
Ripple is ramping up its recent smackdown on the worldwide payment system status quo.
In a new tweet, the company points out just how cumbersome traditional payments can be, with vague estimations on when cross-border transactions will actually arrive.
— Ripple (@Ripple) November 8, 2018
This follows the company’s advertisement from last week, which highlights Ripple’s argument that it’s sometimes faster to physically send money by getting on a plane than it is to send it through a bank.
High-profile investor Michael Arrington, the founder of crypto investment company Arrington XRP Capital, says he’s a user and fan of Cred. He calls the addition of XRP an important step in the evolution of the digital asset.
“Cred is successfully building the next generation of lending and earning products and their recognition of XRP as an asset class is important.”
Now @Ripple customers have the opportunity to hold their #XRP long-term without the need to sell or incur tax. XRP hodlers can borrow as low as single-digit interest rates when they visit https://t.co/ya5n9glsuD and click “Get Early Access.” https://t.co/NpMlUjOiW7 pic.twitter.com/kigkwoNNqh
— CRED (@ihaveCred) November 8, 2018
Cred says it has secured over $300 million in credit facilities available for lending, three times more than the rest of the industry combined.