Xumm Wallet, XRP’s Ledger wallet, has announced plans to launch on- and off-ramps in France and the United Kingdom. This will enable users in these countries to purchase and sell XRP using their fiat currencies. The company is working closely with Banxa and BTC Direct for easy integration.
The product requires a yearly subscription and is supported by third-party applications like Banxa and BTC Direct. As time goes on, more third-party applications will be available for preference. There are plans to reach a wider audience by adding more countries to the list.
“A tight integration with @GateHub for their stablecoins is also coming soon.” The company added
According to CoinMarketCap, the wallet’s native token, XRP, is the 7th largest cryptocurrency by market capitalization. It was developed as a settlement system and has attracted the attention of several payment institutions, including Bank of America, HSBC, and American Express.
The token enables users to send large sums of money around the world faster and with lower transaction fees.
RippleLabs, the company behind XRP, has been in a legal battle with the Securities and Exchange Commission (SEC) for two years. The lawsuit negatively affected the token’s value and caused problems for the company.
However, Stuart Alderoty, General Counsel for Ripple, stated
in a tweet, “it now looks like a resolution will come in 2023.”
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