Fund Instant Cross-Border Payments With a Line of Credit From RippleNet
Today, Ripple launched Line of Credit, a new beta service on RippleNet that allows customers using On-Demand Liquidity (ODL) to source capital on demand to initiate cross-border payments at scale using the digital asset XRP. Limited access to working capital is one of the biggest barriers to growth for many companies. Unlike incumbents who have large balance sheets that allow them to scale their business quickly, many fintechs and small and medium-sized enterprises (SMEs) lack the capital and resources to compete. Faced with stalled growth, customers turn to creating bespoke credit arrangements – with each partner, in each destination market. Each arrangement requires additional overhead and management, making it a slow, burdensome and an ultimately inefficient process.Ripple’s Line of Credit solves this problem for our customers by providing upfront access to capital for every market through one simple credit arrangement – simplifying access to financial solutions that accelerate bus
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