NEW: FREE Web3 Resume Cheat Sheet DOWNLOAD NOW

XRPL show off their new Ripple XRP powered banking application

19093
ripple xrp new banking app xummripple xrp new banking app xumm

Contents

Share link:

In this post:

The Ripple-backed startup, XRPL Labs have released a new banking app dubbed the Xumm and are showcasing it now.

Xumm, as they have been calling it, is used to allow users to hold both fiats as Euros, Dollars, and cryptocurrencies as, no doubt, Ripple’s XRP itself and other currencies- both virtual and material without any intervention from a bank. The app has tabs for transaction history, inbox for managing contact information.

A banking license is yet to be issued to XRPL Labs for their app to work independent of banking institutions and the head of XRPL Labs, Wieste Wind, says that they will hold an “interesting meeting” in the next week.

 

Wieste Wind, in a community event, held in Amsterdam, said that their app, Xumm will deliver an online banking experience like no other. It will be a step towards bridging the world of banking and digital assets by XRP ledger’s ability to handle any asset given to the ledger to store/transfer.

The XRP ledger is based on the Interledger Protocol (ILP). The app makers promise a bank and not a wallet, as they have branded Xumm to be a transaction market for currencies.

 

See also  TRON's Justin Sun hails USDD as the only true choice for a decentralized stablecoin

Wieste Wind further stated that Xumm would not need much expertise to operate. His commitment to the cause is portrayed by his eagerness to allow the app to be so user-friendly, that the elderly will be OK with it. According to Wind, the app will be secure, and the setup guide will take you through the basics.

Wieste Wind also promised enterprises to take away customers they please by directly interacting with them. However, XRPL payments will be necessary.

Cryptopolitan Academy: How to Write a Web3 Resume That Lands Interviews - FREE Cheat Sheet

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Editor's choice

Loading Editor's Choice articles...
Subscribe to CryptoPolitan