Credefi boosts DeFi: integrated with XRP Ledger

It is worth noting that Credefi Finance has achieved notable progress in the DeFi industry through its incorporation in the XRPL. This marks an important step for DeFi users, who are set to enjoy innovative lending services in cryptocurrency. The open-sourced XRP ledger network is highly efficient and decentralized, which is a perfect choice for the launch of such advanced financial services by Credefi Finance for providing new dimensions in the DeFI ecosystem with safe and novel experiences to users across the globe.

Credefi Finance introduces a unique alternative to cryptocurrency lending using physical, real-world collateral that fills financing gaps for SMEs across Europe amid tightening debt rules. The users have consistent earnings and drive an equitable market transformation. Open source, decentralized Layer 1 blockchain called XRPL exceeds in terms of speed, energy efficiency, and reliability. Low costs and a vibrant community make XRPL for payments through to the best institutional Defi in the sector of innovations and efficiency of the blockchain networks.

A highlight of its rollout is one of the main integrations that allow short-term bridge liquidity loan extension to different European SME portfolios to fund their operational costs effectively. With the support of attestation from Experian, its proprietary risk engine ensures that Credefi Finance performs thorough due diligence on these companies with a zero default track record. The global market can offer real lending to everyone in any corner of the world because this product solves the practical problem – an efficient connection of capital demand and supply.

As the chief executive officer and co-founder of Credefi Finance, Ivo Grigorov was excited about this partnership, stating, “Our adoption of XRPL is not just your ordinary partnership deal but rather a statement that solidly defines Credefi as one of the boldest.

The innovation of the company’s involvement with Gatehub EUR, Gatehub USD, and Bitstamp EUR stablecoins is a first in the marketplace. New areas for utility emerge, allowing cryptocurrency enthusiasts to use their assets within a stable platform securely.

Valentin Dimitrov, CFO and Co-Founder, noted that these leading products indicate our continuous effort to innovate our services while maintaining quality. “By supporting these stablecoins, our clients can make informed decisions on what’s relevant.”

Since its launch in 2012, the XRPL has demonstrated unprecedented flexibility and efficiency in issuing tokens, settling transactions, and providing liquidity. It has enabled various dApps for real estate financing, digital art projects, stablecoins, and governance tokens. 

With transaction times being three to five seconds and the cost of each transaction at $0.0002, XRP Ledger enables efficient and scalable transactions that can accommodate approximately two thousand and three hundred transactions per second.

With this integration, Credefi Finance will improve and set a benchmark for other future DFPs where users can access and widely embrace decentralized finance.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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