#PayTech / Ripple Announces Line Of Credit Offering

Enterprise blockchain service provider Ripple… announced a beta offering called Line of Credit that it says lets its FinTech customers use the XRP digital currency to send cross-border payments. The service is not available to individuals.

[Ripple:] “With a line of credit from Ripple, your financial institution can use XRP to complete instant, low-cost cross-border transfers… We allow you to lock in a rate at the time of the payment, then repay us when it’s convenient for you, for a small fee.”

The service “lowers both the cost of holding trapped capital and operational costs associated with sending cross-border payments…”