XRP and Shiba Inu holders have just received exciting news, as Japanese crypto exchange BitTrade has announced support for lending both cryptocurrencies.
This announcement was made on BitTrade’s official X account, and the initiative marks a significant step forward for XRP and Shiba Inu (SHIB) holders, offering them a new avenue to generate passive income.
Effective November 21, BitTrade’s lending program will be providing a competitive 2% annual interest rate for 90-day loans. This opportunity presents a compelling option for those seeking to maximize the potential of their XRP and SHIB holdings.
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BitTrade went into more detail in its official blog post, and to ensure accessibility, BitTrade has established minimum and maximum loan amounts for both XRP and Shiba Inu (SHIB). For XRP holders, the minimum loan is 100 XRP, while the maximum is 500,000 XRP. Similarly, for SHIB holders, the minimum loan is 10,000,000 SHIB, and the maximum is 10,000,000,000 SHIB.
Just over a month ago, BitTrade listed Shiba Inu and Dogecoin to its list of supported cryptocurrencies, expanding the reach of both tokens within Japan, and bringing the total number of cryptocurrencies available on the platform to 34.
XRP Ledger Integration with Credefi Finance
In another significant development, crypto lending platform Credefi Finance has announced an integration with the XRP Ledger (XRPL). Credefi’s groundbreaking integration with the XRPL could usher in a new era in decentralized finance (DeFi).
Leveraging the XRPL’s open-source, energy-efficient blockchain, Credefi brings sophisticated financial products to the DeFi space. The inaugural product facilitates short-term bridge liquidity loans to European SMEs, addressing real-world capital efficiency challenges with a remarkable zero default rate.
In the official blog post, Credifi’s CEO Ivo Grigorov emphasized dedication to pioneering DeFi, ensuring users access secure, flexible, and revolutionary financial solutions.
Credefi is introducing industry-first real-world lending products supporting Gatehub EUR, Gatehub USD, and Bitstamp EUR stablecoins, providing crypto enthusiasts with novel utility and secure investment environments.
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Credifi’s CFO Valentin Dimitrov also highlights the company’s commitment to innovation, offering users diverse choices and flexibility in DeFi investments with the highest standards of security and transparency.
Credifi also drew attention to XRPL’s advantages. XRPL is known for unparalleled tokenization, settlement, and liquidity capabilities, enhancing transaction speeds and scalability at an impressive cost of approximately $0.0002 per transaction.
Together, Credefi Finance and XRPL aim to set a new benchmark for DeFi projects, propelling decentralized finance into a universally accessible and adopted future. These developments highlight the growing reach of cryptocurrencies and blockchain technology. Another notable example of this is XRP’s recent landmark adoption in Dubai.
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