Ripple launches business lending program

A specialized program aimed at lending business from Ripple begins its work. A solution called Line of Credit will allow customers to raise capital on demand to initiate cross-border payments on a larger scale using XRP tokens.

“With a line of credit from Ripple, your financial institution can use XRP to make instant, low-cost cross-border transfers. We allow you to fix the rate at the time of payment, and then repay it for a small commission when it is convenient for you, ”the tech-startup says in its press release.

It should be noted that initially a limited number of the company’s customers will be able to take advantage of the offer. “First of all, users of On-Demand Liquidity will be able to appreciate the benefits of the development and, in particular, the cost of a product that, regardless of destination or fiat currency, it is noted, will cost much less than most other available lending options,” Ripple representatives wrote. … Despite the fact that the cost of commissions was not disclosed, the company emphasizes that they will be lower than those of competing projects.

We add that Ripple currently controls 6.2 billion XRP.