Ripio Credit Network Coin (RCN) is a cryptocurrency operating on the Ethereum platform. The underlying platform is an open-source credit protocol that aims to create transparent and limitless borrowing markets by bringing together lenders, borrowers, and loan originators on the blockchain.
In a globalized world, RCN is creating a new ecosystem for decentralized borrowing instruments by bridging the gap between the supply and demand of credit beyond geographical boundaries.
Ripio Credit Network is a consortium of major Decentralized Finance service providers that use an open-source set of Ethereum smart contracts to aggregate the supply and demand of borrowing markets and facilitate easy-to-use borrowing scenarios.
According to the explanations, loans are backed by an organization that determines interest rates, conducts KYC, performs evaluations, manages collection services, and provides recovery guarantees in case of default to better protect creditors. Collateralized loans can be obtained by pledging cryptocurrency as collateral with different maturities, interest rates, LTV ratios, and amortization schedules.
Additionally, the RCN token acts as a tool at the center of the RCN protocol, facilitating seamless value transfer across blockchains and between currencies. Using the Liquidity Pools series, funds provided in another cryptocurrency by the Creditor can be converted by RCN and published on the blockchain, ultimately being converted back to the currency of choice for the Borrower.
While the Ripio Credit Network platform is considered to have a promising future, investors are cautious, and it is believed that RCN coin can either gain value or become worthless in the long term. It is beneficial to look at historical and current RCN token prices to analyze investor sentiment more clearly.
RCN coin can be purchased on Binance, the largest cryptocurrency trading platform in terms of market capitalization, in a fast and reliable manner. Ripio Credit Network Coin was listed on Binance exchange on November 8, 2017, and users can currently trade RCN in RCN/BNB, RCN/BTC, and RCN/ETH pairs.