Cryptocurrency

Ripple Unveils its XRP Based Mobile Banking Application

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Ripple is still gaining the attention of crypto lovers. The XRPL lab of Ripple has designed an app for the mobile user that can do more than just sending cryptocurrency from one wallet to another.

The newly designed app of Ripple was unveiled at a community event, Bitrue in Amsterdam. The aforementioned app will be a complete mobile banking app that can operate without the intervention of any financial institution for storing and spending Dollar, Euro, XRP, and other currencies. They have named the app as Xing.

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On the occasion of presenting the mobile app, Wietse Wind of XRP LAB has told Xing will provide online banking experience to the user. It is not only meant for crypto, but any other currency as XRP ledger can work on any given currency.

He further added that they are developing a banking app that is built on a digital ledger. It is not just a crypto wallet; it is a banking app that is built on Inter-ledger protocol and XRP ledger.

He also specified that the mobile app would make payment for both crypto and traditional currencies as simple as possible. The app can be used by everyone of the societies, be it a computer expert or a non-technical person. The app will be a secure and user-friendly application with a start-up guide included in it.

While using the app, the user will not have to enter a long crypto address while sending the fund. Instead, the app will have lookup and social feature in its account directory. The user of the app will have the power to approve or deny any payments to any person or business.

The wind is working hard for the mainstream adoption of cryptos. His company XRP LAB has got investment from Xpring the fund-raising arm of Ripple to invest in several other ventures.

Presently XRP LAB is working on cold storage OS and decentralized exchange.

Over the years, Ripple is working on going beyond the expectations. It is providing financial services for a lot of countries, especially in South East Asia. The unparallel tools of Ripple and fastest cross broader transaction are attracting more and more financial institutions.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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