Currency exchange platform, Ripple announced the latest service on RippleNet, ‘Line of Credit’, aimed at making it easier for their customers to use On-Demand Liquidity (ODL) for XRP loans and instant access to capital.
However, the service is not available for individual use and is still limited in use for some markets.
Interestingly about this service, Line of Credit has the potential to provide easy access to capital for each market through simple credit management.
In this way, it can directly reduce the gap, opening up opportunities for small and medium enterprises (SMEs) to compete healthily with large companies.
Based on a statement from Ripple, SMEs through financial institutions can use XRP to complete cross-border transfers at low cost.
"We allow you to lock in the price when payment and pay us a fee that is not too high, if this system really makes it easier for you," explained Ripple.
The effort is the latest step in achieving Ripple's vision, ensuring the use of the Internet of Value as well as bridging the gap in finance.
It is a new exclusive service in ensuring the cost effective provision of their customers.
Earlier this week, Ripple executive chairman Chris Larsen said his firm was in a state of crisis following the enactment of US law on the crypto sector, prompting him to consider moving his firm to another country.
