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. 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.“Cred is successfully building the next generation of lending and earning products and their recognition of XRP as an asset class is important.”
About Ripple's (XRP): Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts. Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement. XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa. XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.
Ripple’s (XRP) can be bought with fiat dollars, debit and credit cards on cryptocurrency exchanges such as CEX.io and Changelly.com and it can be bought with cryptocurrency on exchanges such as CoinEx, Binance, and HitBTC.
XRP is the 3rd largest cryptocurrency by market cap size. Its market cap is currently $20,256,038,601 and it has a circulating supply of 40,205,513,967 XRP. It's down 5.89% over the past 24 hours and is currently trading at $0.503813.