Ripple launches 'Line of Credit' — to provide loans in XRP

Ripple has finally launched its loan product, five months after the company first confirmed its plans to The Block in May.

Announcing the news on Thursday, Ripple said its new product "Line of Credit," which is currently in beta, would provide select customers working capital loans in XRP.

Specifically, Ripple customers who utilize its On-Demand Liquidity (ODL) solution would be eligible for the offering. “Those using ODL on RippleNet can purchase XRP from Ripple on credit,” said the company, adding that it would charge "one fee" on the amount borrowed.

Ripple did not disclose the fee, but said it is “a lot less than most other available credit options.” The offering is aimed at fintechs and small and medium-sized enterprises (SMEs).

Ripple currently has "more than two dozen" ODL customers, including money transfer firms MoneyGram, Viamericas, and FlashFX. The ODL solution currently supports Mexico, the Philippines, and Australian markets. Ripple once said that the support for Brazil is "coming soon," as well as additional corridors across Asia-Pacific (APAC), Europe, Middle-East and Africa (EMEA), and Latin America (LatAm) are in progress for this year.

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Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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