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November 8, 2018

Ripple Rips Old School Payments Industry As XRP Hits $300 Million Crypto Lending Platform

By Daily Hodl Staff

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.

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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.

Meanwhile, the crypto-backed lending company Cred says it’s now offering USD loans, collateralized by XRP.

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.

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“Cred is successfully building the next generation of lending and earning products and their recognition of XRP as an asset class is important.”

Cred says it has secured over $300 million in credit facilities available for lending, three times more than the rest of the industry combined.

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