In a statement released on Monday, Credefi Finance announced its integration with the XRP Ledger (XRPL), representing a significant step for the company to expand its decentralized finance offerings using the energy-efficient decentralized blockchain technology of XRPL.
The integration aims to provide users with more diverse financial options in the cryptocurrency space, leveraging XRPL’s robust infrastructure. Credefi’s latest products on the XRPL platform enable users to participate in short-term liquidity loans for small and medium-sized enterprises in Europe, designed to help these institutions manage their fixed costs more efficiently.
Credefi utilizes a risk assessment engine and collaborates with Experian for authentication, resulting in no cases of default so far. This initiative reflects an effort to balance supply and demand for reserve capital in the market, providing global users access to real-world lending opportunities.
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XRPL, operational since June 2012, boasts high transaction speeds ranging from 3 to 5 seconds and costs approximately $0.0002 per transaction, capable of handling up to 2200 transactions per second. These features further enhance Credefi’s ambitions in this sector, showcasing the variety and potential offered by XRPL for the company’s endeavors.
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