Let us introduce XRP – a new coin listed at CoinLoan. It’s now available as collateral for crypto-backed loans and as an asset to earn up to 5.7% APY with CoinLoan Interest Account. Good news for XRP holders!
What Is Ripple (XRP)
RippleNet is a payment platform, designed for seamless transfers of money in any form, be it USD, Bitcoin, stablecoin, or others. The idea behind the platform was to enable almost instant international transactions at low costs. Ripple says that RippleNet had grown to more than 300 financial institutions across 40+ countries worldwide.
XRP is the abbreviation of Ripple that uses to name the asset that allows payments to run through the platform. Launched in 2012, XRP is now one of the world’s largest cryptocurrencies. At the moment of writing this blog post, XRP holds fourth place by market capitalization, according to CoinMarketCap.
How XRP Works on CoinLoan
- First of all, the coin arrived in My Wallet. So you can deposit and withdraw it along with other assets on CoinLoan.
- XRP is now available in Interest Account. You can deposit your coins and earn on them 3.7% annually with a possibility to raise the rate up to 5.7% thanks to CLT staking.
- If you hold XRP, you can use it as collateral to borrow stablecoins or fiat assets in Instant Loans and on Lending Market.
- On Crypto Exchange, XRP is now available in couples with stablecoins and fiat assets.
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The information provided by CoinLoan (“we,” “us,” or “our”) in this text is for general informational purposes only. All investment and financial opinions expressed by CoinLoan in this text are from the personal research and open information sources and are intended as educational material. All outlined information is provided in good faith. However, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information in this text.