One of the primary reasons for
creating is to reach people in the unbanked and under-banked areas.
However, one that is achieving that goal is XRP, with its
cross-border remittance practically available in all parts of the world.
and its , XRP,
have been at the forefront of to the unbanked and
under-banked regions of the world. continues to release solutions that
help banks and other financial institutions carry out faster and cheaper
cross-border payments.
Roel Wolfert, a Managing Partner at
VGRIP,
“By slashing cross-border
remittance times to minutes, #-enabled services are attracting users
who typically aren’t banked.” He made this statement in a blog post about
the contribution of technology in the Middle Eastern financial
landscape.
The of and XRP by
payment service providers in various parts of the globe is an important reason
why are getting more attention. A few hours ago, Wietse Wind,
an XRPTipBot developer, announced that Google and Apple App Stores accepted their
XRPayments app.
According to his ,
“Right
on time! 🎉 🎉 🎉 Our XRPayments app was just accepted by Google and Apple. You can get
the app now from the Apple iOS or Google Play , and start accepting $XRP
for payments in your physical ! Visit https://setup.xrpay.com to download
and activate the app”
In addition, Wind that the app converts the funds, so
it gives the recipient the exchange rate for their currency. “It doesn’t handle actual currency
conversion: it’s XRP to XRP payments,” he added.
Financial Entities Push Ripple Adoption
collaborating with several
financial bodies across the world, and they are helping drive . In the
first instance, the partnership between and crypto exchanges, Bitstamp,
Coins.ph, and Bitso is crucial to XRP . These three all play essential
roles for . Bitso carries out crypto transfers between Mexico and the US.
Likewise, Coins.ph serves a similar function between the US and the
Philippines. Meanwhile, Bitstamp is in charge of USD conversion using xRapid.
Another product of that is
helping drive is the InterLedger Protocol. The ILP is an open protocol
suite designed for sending payments across several ledgers. Consequently, the
ILP will usher in the age of the internet of value (IoV) as it will close the
bridge between fiat and crypto and allowing fast, efficient, and interoperable
exchange to take place.
The interoperability nature of the
ILP is crucial since it has the potential to speed up of XRP and other
across the globe. For example, a was carried out using the ILP and
funds were transferred from XRP to ETH within seconds. However, the general
opinion is that ’s ILP is the technology to help the internet of value
arrive and thrive in the financial landscape.
While XRP micropayments are possible
via Twitter and Reddit, XRPTipBot launching a similar service on Gmail will
help boost crypto in regions lacking banking services. Google’s
internet mail service is the most widely used in the world, and allowing users
to send funds via the platform will play a significant role in pushing
.
The XRP community is working to
ensure that Skype integrates the service. While it might not be new, Skype
allowing XRP transfers via its platform will help boost the chances of crypto
. In general, and XRP’s innovations are helping crypto ,
allowing people in unbanked areas to carry out fast and cheap transactions.
Published at Sat, 20 Apr 2019 09:26:03 +0000
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