The company Spend offers an app for payment services. Some time ago, the company has also integrated payment options for Litecoin and Dash. Now Spend has announced via Twitter that they have also recorded Ripple XRP. With the help of the Spend app, customers can now pay with Ripple XRP to more than 40 million retail outlets in 180 countries.
To make this offer possible, Spend has partnered with Visa. The result is a donation visa debit card. With this card, crypto friends can now store, output and send 16 cryptocurrencies. Spend explained that the charges are extremely low. The Ripple XRP would be converted into fiat money before being spent.
So far, the app is only available to iOS users and can be downloaded from the App Store. The version of Android available on the Google Play Store has initially withdrawn the company for update.
To protect users, Spend has introduced a Customer Verification Procedure (KYC). At the same time one uses an AES encryption. Users can also receive loans via the donation app. For this purpose, the creditworthiness of the user is checked and set the interest on the loan. These are usually 11 percent. However, the credit function is currently only available in some regions.
Ripples new partnership with BlockQuake
The company Ripple Labs is also always active and is expanding its partnerships. There are many achievements to show. The CEO of eToro also stated some time ago that he was very interested in partnering with Ripple.
Another candidate for cooperation is BlockQuake. On Twitter, the company recently announced that a partnership with Ripple Labs is on the way. BlockQuake is a fintech company that wants to set new industry standards for crypto exchanges.
Is the JPM coin a threat to Ripple XRP?
Ripple XRP is enjoying an ever wider acceptance. However, the cryptocurrency also has to contend with competitors. This includes the newly created JPM Coin. As the name implies, the coin is issued by the US bank JPMorgan Chase. The JPM coin is based on the quorum blockchain. It enables the immediate transfer of payments between institutional accounts.
The community still seems undecided as to whether the new coin represents a threat to Ripple XRP. Travis Kling, founder of krypto-hedge fund Ikigai Asset Management, told Bloomberg:
“JPM’s project is more of an evolution than a revolution. (…) The project is a clear competitor to Ripple Labs and its centralized cryptocurrency XRP. “
Also published on Medium.