- Xumm and GateHub partner to introduce an on/off-ramp for 14 crucial assets, encompassing both fiat currencies and crypto assets.
- The strategic alliance facilitates seamless value transfer between the XRPL and major fiat and crypto networks.
XRPL Labs and GateHub Elevate Blockchain Accessibility
The renowned team of XRPL Labs, the masterminds behind the Xumm Wallet, have taken a significant stride in their mission to revolutionize the XRPL ecosystem. Their latest collaboration with GateHub, a leading crypto trading platform, stands as a testament to their commitment.
We've teamed up with @XummWallet to bring you On/Off-Ramp! 🚧
Starting today you can now easily transfer funds in and out of your Xumm account via @GateHub 😎
— GateHub (@GateHub) August 22, 2023
This strategic alliance introduces a frictionless on/off ramp feature on Xumm for an array of 14 assets, which includes the likes of Wrapped XRP (WXRP). But that’s not the entirety of this partnership. Users can now conveniently transfer several fiat currencies – EUR, USD, and GBP – and a diverse range of crypto assets like BTC, ETH, and LTC, among others.
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What does this mean for the regular user? Quite simply, the interoperability factor gets a massive boost. With the aid of this collaboration, users can seamlessly transition supported assets between the XRP Ledger (XRPL) and key fiat and crypto networks. This includes big players in the financial world, such as SWIFT and SEPA, and leading blockchain networks like Bitcoin and Ethereum.
GateHub’s CEO, Enej Pungerčar, sheds light on the broader vision, emphasizing that the partnership won’t just be limited to the present. Any forthcoming assets that GateHub decides to onboard in the future will seamlessly fit into this collaboration’s scope.
Wietse Wind, the visionary founder of XRPL Labs, didn’t hold back his excitement, recounting his experience of adding EUR to his XRPL account and witnessing its lightning-fast transfer back to his bank. “This is the direction we’ve envisioned. This is the future,” he fervently remarked.
Operationalizing the Partnership:
For those keen to leverage this integration, the process is straightforward. Users wishing to transfer any GateHub-supported asset simply navigate to the desired asset within their Xumm wallet, and choose either the “add” or “withdraw” option. It’s essential to remember that this feature will be available exclusively to users who clear GateHub’s KYC verification procedure. On the first use, users will need to log in using their GateHub accounts, but subsequent uses promise direct deposit and withdrawal actions.
This collaboration is the latest chapter in XRPL Labs’ dedication to creating a fluid bridge between their XRPL accounts and traditional bank accounts. A notable past achievement was their integration of the on-ramp aggregator, Poko, introducing over 100 payment methods. Furthermore, their association with Guardarian in May laid the foundation for on/off-ramp support for a vast range of 40 currencies.
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