CoinLoan offers crypto-backed loans and interest-earning accounts. Get a cash or crypto loan with cryptocurrency as collateral. CoinLoan is the first P2P lending platform for cryptoassets backed loans. Borrowers get money without selling cryptoassets. Lenders offer loans and earn competitive returns. Over collateralization ensures full repayment on time.
Announced today via CoinLoans blog, More Than 14 Million XRP deposits were made within the first week of listing XRP on CoinLoan.
According to prnewswire.com
Within a week of the listing, users deposited more than 14 million XRP tokens on the platform, making CoinLoan the leading cryptocurrency lending service that uses Ripple according to the company. Users who deposit their Ripple tokens on the platform can benefit from up to 5.7% APY and take out loans with XRP as collateral. This is the reason the company considers many XRP holders to choose CoinLoan.
How XRP works on CoinLoan
- First of all, the coin arrived in My Wallet. So you can deposit and withdraw it along with other assets on CoinLoan.
- XRP is now available in Interest Account. You can deposit your coins and earn on them 3.7% annually with a possibility to raise the rate up to 5.7% thanks to CLT staking.
- If you hold XRP, you can use it as collateral to borrow stablecoins or fiat assets in Instant Loans and on Lending Market.
- On Crypto Exchange, XRP is now available in couples with stablecoins and fiat assets.