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Omni Collaborates With XRP and Ripple to Gain Liquidity

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Thomas McLeod, a co-founder and acting CEO of Omni, a rental service company, has recently come forth to explain his reasons for collaborating with Ripple and utilizing XRP. According to him, the aim is to provide customers of his service with better liquidity and a sharing economy.

Omni is a service that allows people in the same neighborhood to find items and rent it among themselves. Items in question can include anything, from air mattresses to bikes, various electronic devices, and more. Users of the service can simply search for an appropriate keyword, or check out different categories and find whatever it is they are looking for.

In exchange for renting the items they own, users can also earn money whenever someone rents out the item they offered. Now, thanks to Omni’s collaboration with XRP, all earnings can be cashed out to XRP wallet. This makes Omni the first platform in the world that allows people to get XRP coins without having to purchase them via exchange.

McLeod sees this as an excellent way for curious individuals to enter the crypto world, without having to actually invest in it. Experts believe that there are many more potential investors and traders out there who are already familiar with crypto, but unwilling to take accompanying risks. Now, with Omni and XRP working together, they do not have to.

XRP brings liquidity to Omni

In a recent interview, McLeod stated that Omni aims to establish connections between people through renting things. The goal is to continue expanding the platform’s influence and eventually create an entire marketplace revolving around renting various items. Considering how a lot of people owns items that they themselves do not use often, they should be able to rent them to those who need them.

The person who is renting the item still remains its rightful owner, but they can now make a profit out of things that would otherwise remain ignored.

McLeod then compared Omni to a bank, as it is the one holding actual assets that are available for rent. He also explained how XRP fits in into the system, as it has the ability to provide the service with great amounts of rapid liquidity.

Ripple also mentioned that Omni was the first investment that the company has made since the launch of their Xpring initiative. This also represents an excellent real-life use case for XRP, especially since it goes outside of the usual business with the banks and other financial institutions.

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A freelance journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali's work has been published on a number of cryptocurrency publications.

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