Coinbase May Acquire Omni, A Platform That Uses XRP

Ripple and XRP have been making headlines a lot lately due to various successful moves.

Coinbase is interested in buying Omni

Now, Coinbase is reportedly interested in acquiring the Ripple-backed startup Omni.

This firm allows neighbors to find and rent items from each other by searching for specific keywords or categories.

This service delivers items locally, and it also allows users to earn money when their items are rented.

Users have the ability to cash out their earnings to an XRP wallet, and this makes the platform the very first one that allows people to acquire XRP outside of an exchange.

Ripple is making efforts to gain users

The San Francisco-based company has struggled a lot to gain users, and now it’s been reported that it is in the early stage talks with both Coibase and Thumbtack according to a report from TechCrunch.

This deal would give Coinbase the opportunity to use members of Omni’s engineering team.

Omni’s engineering team would work on Coinbase Earn

According to the latest reports coming from the Daily Hodl, the members would work on Coinbase Earn which is a Coinbase platform that allows customers all over the world to earn cryptos while at the same time learning about the blockchain tech and the digital assets.

CEO and co-founder of Omni, Thomas McLeod, sais that Omni’s mission is to “connect the world through things” as they work to build out an entire rental marketplace.

“By enabling XRP cashouts, we’re aiming to lower the barrier to entry for crypto-curious consumers and also reduce the risk because you still own the asset…” he said.

He continued and explained that “there’s a world in which everything that you have you should be able to connect with other people and other people should be able to use those things as well. So if you have a bike and you’re not using it, someone else can use it when you’re not using it.”

The conclusion is that you can also make money from this move.


Companies Mentioned

Coinbase
Coinbase

Coinbase is a digital currency exchange headquartered in San Francisco, California.

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Eduard Watson Author

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

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