During an interview in Korea with Block in Press, Michael Arrington, the Founder of Techcrunch and the Partner Arrington XRP Capital said that XRP is better than Bitcoin [BTC] and Ethereum [ETH] in terms of transactions.
The founder of Techcrunch first introduced himself to the Korean cryptocurrency enthusiast, after which he spoke about Arrington XRP Capital. The company is a $100 million hedge fund and invests only in cryptocurrency related entities. He further states that most of the deals the company is doing turn out in Asia particularly China and Korea.
He said that the Korean market is a “little bit opaque for westerns”. Although it is easier to visit, sometimes it is hard to do business in the country. The firm is looking for ways to do more deals in Korea. He further said that the country’s 40% white collar workers own cryptocurrencies and that no other place in the world has that kind of ownership. This means that people can try new things in the country and get network effects going easier than any other place in the world.
Michael Arrington further explains the reason why the hedge fund firm chose XRP as primary cryptocurrency for their fund. He said that since they are a crypto-focused hedge fund, they wanted to be the first hedge fund firm to dominate in cryptocurrency and not in USD or other fiat currencies.
“We thought, in fact, we know XRP is the best for that first hedge fund firm to dominate in cryptocurrency not because it’s not it’s a little bit more centralized than say Bitcoin and it has detractors and a lot of people in the U.S just like it. And if you need to move some money like very quickly and very cheaply there’s nothing better than XRP”
Michael stated that the company’s first closing was about $50 million in the U.S. They moved the money within 3 seconds and the cost of the transaction was about 20 cents to 30 cents. He further said:
“Bitcoin and Ether can’t compete with that and its fantastic for that.”
The hedge fund partner also adds that XRP is not the only currency held by the company. In fact, the firm holds more Bitcoin [BTC] than any other cryptocurrency present in the market.
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Ripple-backed XRPL Labs releases XRPayments on Playstore and App store
The Ripple-backed startup, XRPL Labs had been working on various technologies to develop the ecosystem. One of these technologies, XRPayment, was in its testing phase and has been finally launched and made available on the Google Play store and Apple app store.
Wietse Wind, the developer of XRPtipbot and one of the developers at XRPL Labs, informed the XRP community about this on his Twitter. Wind stated:
“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 store, and start accepting $XRP for payments in your physical store!”
The application received a lot of traction, especially from the XRP enthusiasts, however, one of the users pointed out an issue he encountered while using the application. Twitter user @almost_summer_ asked Wind:
“hi Wietse great job! just downloaded it, if i open the coinbase or uphold wallet app i can scan the QR but it does not auto fill in the amount of XRP to send. the XRPay web version did fill in the amounts. is that supposed to be like that?”
Wind replied to the user saying that the team wanted users to think about the amount they and perhaps tip the service. He also added:
“Some wallet apps can read a pre filled amount, and the web version implemented that, thus breaking support with some other clients. For this app we wanted 100% support, so we left out the pre filled amount feature for now.”
Wind and the team are also working on a ‘signing platform’ which will enable the users to sign and approve transactions from an application or the web application from any developer, without sharing their mnemonic, through a push message or QR code.
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