Connect with us

News

XRP accepted at 4,500 worldwide online stores as CoinGate enables XRP payment option

Namrata Shukla

Published

on

XRP accepted at 4,500 worldwide online stores as CoinGate enables XRP payment option
Source: Pixabay

CoinGate, a cryptocurrency payment processor just launched support for XRP to customers, which will enable the users to pay in XRP to various vendors across the net. CoinGate took to Twitter to announce about the big news and tweeted:

“Big news for #XRPcommunity and our merchants alike! We launched native $XRP support to our customers, meaning #XRP is now accepted as payment at thousands of vendors across the Net. Proceed to our blog for more detailed information!”

This move will bring the digital asset to more than 4,500 online stores. The payment processor uses an open-source, e-commerce platform PrestaShop to get in touch with thousands of digital stores in the EU, as per DailyHodl. The payment processor also supports other cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Stellar Lumens [XLM], Litecoin [LTC] and Tron [TRX].

The CoinGate team said that while they did study the technology behind the coin, the decision to add support for XRP was made acknowledging the high demand for the toke in the XRP community.

“We are thrilled to let you know that we are adding yet another payment option for our merchants, and this time it’s a big one! Due to very popular demand by the community, our next cryptocurrency on the list – XRP! As a result, XRP coin owners can now use it as a means of payment at more than 4,500 shops online! Whether you want to purchase a VPN, video game or anything else, you are more than welcome to do that!”

The team also said that they have faith in Ripple and the advanced blockchain technology they develop. The payment processor also noted that despite the claims of being highly centralized, Ripple is carrying out a decentralization strategy in which they stimulate the admission of third-party validators, removing one proprietary node for every two new decentralized nodes.

In the meantime, the publication said that Ripple is aiming to hire developers who can help its customer base integrate the company’s suite of payment solutions such as xCurrent and the XRP powered xRapid.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

Ripple

Ripple’s partnership with Euro Exim Bank explores possibilities other than the use of XRP

Namrata Shukla

Published

on

Ripple's partnership with Euro Exim Bank explores possibilities other than use of XRP Ripple's partnership with Euro Exim Bank explores possibilities other than use of XRP
Source: Pixabay

Ripple, the real-time gross settlement system, has been working hard towards the adoption of their native cryptocurrency, XRP. While proponents of other cryptos are working towards increasing the use cases of the coin, Ripple took XRP to the banks and provided them with a liquidity solution called xRapid.

Euro Exim bank, an international financial institution, partnered with Ripple in January 2019 to use its services like xRapid and xCurrent. Head of Compliance and Operations of Euro Exim Bank, Graham Bright, stated in an interview with Bloxliv.tv that despite the fact that he worked with SWIFT for 20 years, Ripple would work as a complementary network to SWIFT.

“I don’t believe Ripple is going to replace SWIFT. Ripple is one of the complementary networks which is going to allow those institutions who need real-time to make use of that. We’re also seeing that SWIFT are changing their network capabilities, so real-time will also be a possibility as well but we may also see Ripple XRP moving across the SWIFT network as a currency when we are perhaps using FX.”

Bright also revealed that Euro Exim Bank will be announcing a cryptocurrency exchange soon and it would list various cryptocurrencies and not just XRP. However, their core business remains trading finance.

He also said that Ripple are trying to expand the usage and not restrict it to just using XRP. Euro Exim Bank is currently investigating how to embed instructions for bonds/derivative/foreign exchange inside a Ripple message, he said.

With the cryptocurrency ecosystem booming, Ripple’s XRP has risen, along with its technological services. As for XRP’s performance in the market, it was falling by 1.03% over the day and was valued at $0.4268 with a market cap of $18.14 billion. The 24-hour trading volume of the coin was noted to be $1.22 billion, as it noted a growth of 6.13% over the past seven days and continued to soar by 0.32% within the hour.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending