It’s true that cryptocurrencies are no longer a preserve to “geeks” or to a small enclave of anarchists and anti-establishment. In ten short years, growth within this space has been exponential to say the least. After Ripple Labs, we have seen how XRP is changing lives as set by Ripple, the software company pitching to banks and large financial institutions. By design, Ripple are keen on seeing adoption of their revolutionary technologies relying on DLTs by a majority of banks.
These same banks have been using the same technology for the last four decades and in the process passing costs to investors. What’s even more is the failure to implement methods which will see instantaneous settlement s even when SWIFT, the Real Time Gross Settlement provider claims to be working with a web of banks with bases all over the world.
The rise of Ripple has seen the rise of companies willing to work towards achievement of the company’s ambition. Top of the list is a way of spending XRP and this is where Wirex, the UK based debit card provider fits in. Recently, Wirex said they shall avail XRP wallets for their 1.3 million customers spread across 130 countries. What this means is that going forward customers can easily spend their XRP through Wirex Visa card irrespective location.
Convert XRP to Cash
This was demonstrated when a Twitter User @Matveevp converted XRP to Cash at a Japanese ATM. Though the procedure first involved buying GBP or USD before conversion to cash is completed, still coin holders can now spend their XRP without having to go through intermediaries. It is know that Visa or MasterCards are not a stead in Japan and foreigners had a hard time finding locations for dispensing cash. It’s tedious yes but soon, the launch of Wirex Visa card will allow auto conversion further easing things up.