Last week, 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. RippleNet already offers connections to hundreds of global financial institutions across 55 countries via a single API and makes moving money faster, cheaper and more reliable, and now they will allow lending and borrowing using XRP by providing upfront access to capital for every market through a simple automated contract. RippleNet customers can take advantage of new line of credit regardless of the fiat currency or destination, and it costs less than most other available credit options and attempts to eliminate barriers in finance that slow down global remittance payments. Customers can apply for up to a $500 loan in XRP, in increments of $100. Repayment is due in monthly installments over a three-month period for a flat fee (about 1%). Ripple's market cap is currently $11 billion and XRP ranks as the #4 most popular crypto in the world. Ripple currently holds 6.2 billion XRP ($1.5 billion), about 6% of the total XRP supply, which makes it fundamentally different than virtually every other crypto project that attempts to decentralize. However, while Bitcoin (BTC) trade confirmations take 15 minutes per block on average and can process ~32 transactions per second (TPS), Ripple (XRP) confirmations take less than 5 seconds and can process ~1,500 TPS.