XRP can now be used as collateral for a line of credit up to $50 million through Cred
Cred, a provider of cryptocurrency-based lines of credit, has recently announced that they will be adding XRP to their list of supported assets. This effectively allows XRP HODLers to put their coins up as collateral for USD loans, allowing them to utilize the coin without the need to sell or incur a loss in the form of capital gains tax.
The company, which is said to have over $300 million in credit facilities, offers interest rates as low as single-digits. This effectively allows XRP enthusiasts to put up their XRP as collateral, and gain a flexible line of credit which can be utilized for their day to day activities. This allows for the spending of their crypto-assets without having to sell them and incur capital gains tax when filing.
Mike Arrington, the Founder of Arrington XRP Capital, commented on the move by Cred, stating:
“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…
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