Credefi

Elite

David

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<ul> 
 <li>Credefi joins the XRP Ledger, enabling lending and offering zero-default loans to SMEs.</li> 
 <li>The integration involves GateHub and Bitstamp, aiming to engage the XRP community.</li> 
 <li>Credefi’s move on XRPL aligns with a focus on real-world assets, echoing the goals of the XRPL Foundation.</li> 
</ul> 
Credefi, an EU-based decentralized finance (DeFi) platform, has recently made a significant stride in its operations by integrating with the XRP Ledger (XRPL). This strategic move aims to enhance the DeFi landscape while offering a secure avenue for lending to vetted small and medium-sized enterprises (SMEs). 
The integration, <a href="https://www.credefi.finance/179">announced</a> on Monday, signifies Credefi’s commitment to expanding its reach within the growing realm of DeFi applications on XRPL. By connecting crypto lenders with regional companies, Credefi is poised to enable users on the XRPL network to engage in lending activities and provide short-term loans through its platform. 
One of the core features of Credefi’s lending mechanism is the issuance of loans with fixed interest rates. These loans are extended exclusively to SMEs screened and validated by Credefi and its third-party risk assessment collaborator, Experian. Notably, the protocol has successfully issued loans exceeding $3.5 million to over 50 SMEs without encountering any defaults, underscoring its robust risk management framework. 
To facilitate these XRPL-based loans, Credefi leverages GateHub’s EUR and USD rails along with Bitstamp EUR stablecoins. The platform has launched a dedicated page on XRPL to showcase its offerings, intending to captivate the vibrant XRP investor community. 
While Credefi operates independently from Ripple, its alignment with XRPL’s vision for real-world asset tokenization mirrors the XRPL Foundation’s objectives. The platform’s move to empower SMEs aligns with Ripple CTO David Schwartz’s praise for XRPL’s potential in hosting real-world asset tokens. 
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The post <a href="https://cryptonewsland.com/eu-based-peer-lending-platform-boosts-defi-on-xrp-ledger/">EU-Based Peer Lending Platform Boosts DeFi on XRP Ledger</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

EU-Based Peer Lending Platform Boosts DeFi on XRP Ledger

Crypto News Land

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