Credefi Finance has integrated with XRP Ledger (XRPL), according to an announcement on Monday. This move marks an important step for Credefi Finance as it allows the project to expand its DeFi offerings by utilizing XRPL’s decentralized and energy-efficient blockchain technology.
The integration aims to provide users with more diverse financial options in the crypto space, leveraging XRPL’s established infrastructure.
Credefi’s latest product on the XRPL platform allows users to make short-term liquidity loans for European SMEs. This initiative is designed to help these companies manage their fixed costs more efficiently.
Credefi uses a risk assessment engine and collaborates with Experian for certification, a move that has reportedly led to zero breaches so far. This product reflects an effort to balance the supply and demand for additional capital in the market, offering global users access to real-world lending opportunities.
The XRP Ledger, operational since June 2012, has established itself in the areas of tokenization, settlement and liquidity.
With transaction speeds of 3 to 5 seconds and a cost of approximately $0.0002 per transaction, XRPL is capable of handling up to 2,200 transactions per second.
This integration is indicative of XRPL’s potential to support various DeFi applications and further Credefi’s ambitions in the sector.
