XRPL Labs Reveals New Details About XRP-Powered App Designed To Link Banking And Crypto

Ripple and XRP have been in the spotlight a lot this year due to various achievements.

Ripple has been working hard to boost the digital asset, and Wietse Wind’s firm did the same.

XRPL Labs and their team have been marking various achievements, and Wietse Wind managed to boost XRP a lot.

XRPL Labs banking app

Now, he’s reportedly offering the very first glimpse at the company’s new banking app.

The application is called Xumm, and it’s designed to allow users to hold and spend euros, dollars, XRP, and more currencies without the involvement of any financial institution.

A new image at the platform is showing an account manager which has the ability to send and receive XRP along with the transaction history and an inbox that allows users to manage contacts.

Wietse Wind said that the company has been working hard to obtain a banking license in order to make it happen and it will also have a meeting on the subject during the course of this week.

The app is designed to link banking and digital assets

There was also a recent event in Amsterdam, and Wieste said that the app is designed to bridge the world of banking and cryptos:

“[Xumm] will deliver a user experience we know as online banking. Not just crypto. So, what it will allow you to do is check your balance and send your funds in any currency, because the XRP Ledger can handle any given currency issued on the ledger…”

xumm - XRPL Labs Reveals New Details About XRP-Powered App Designed To Link Banking And Crypto

He continued and explained that “We’re not building a crypto wallet. We’re building a banking app. Except, without a bank. We’re building a banking app based on a digital ledger, based on the XRP Ledger and based on ILP (Interledger Protocol).”

Regarding the XRP price, it seems that the coin has been the worst-performing crypto in the top 10 digital assets.


Coins Mentioned

XRP

XRP

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

1936 Articles

Top Exchanges
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CEX.IO

3

Website

Icon
Coinbase

2

Website

Icon
Binance

1

Website

Top Casinos
Icon
7bitcasino

4.20

Website

Icon
BitStarz

4.93

Website

Icon
FortuneJack

4.55

Website

Top Sportsbook
Icon
1xBit

4.03

Website

Icon
Nitrogen Sports

4.73

Website

Icon
SportBet.io

4.60

Website

Trending news