MoonPay Partners with Ripple to Simplify XRP Adoption

MoonPay, a leading cryptocurrency payments platform, has announced a strategic partnership with Ripple, a global leader in blockchain technology, to enable users to buy, manage, and store XRP directly within the MoonPay app.

Furthermore, this collaboration represents a significant step towards simplifying cryptocurrency adoption, a goal that MoonPay CEO Ivan Soto-Wright considers vital for making digital wallets as accessible as traditional bank accounts.

The partnership introduces a seamless onboarding process for new users, allowing them to quickly add funds to their wallets. A key component of this integration is the introduction of RLUSD, a dollar-pegged stablecoin developed by Ripple in collaboration with various financial platforms. The inclusion of RLUSD provides MoonPay users with more options for managing their digital assets, enhancing the functionality and versatility of the app.

Soto-Wright highlights a “one-tap” process for existing MoonPay users who have completed the Know Your Customer (KYC) identity verification. Moreover, the streamlined approach facilitates faster transactions for XRP, improving the overall user experience. While the initial onboarding might involve steps such as biometric ID verification, this process is designed to ensure smooth and efficient transactions in the future.

MoonPay’s ambitious vision is to replicate the success of PayPal in the crypto industry, building trust and facilitating widespread adoption. The company is currently rebuilding its products from scratch, aiming for a seamless and intuitive user interface akin to Apple Pay.

The integration of XRP into MoonPay’s platform signifies a significant step in making cryptocurrencies more accessible to a wider audience. The partnership between these two companies holds the potential to drive further adoption of cryptocurrencies, fostering a more inclusive and interconnected financial ecosystem.

Bitwise to Launch XRP ETF with SEC Approval

In early September 2024, Bitwise Asset Management submitted the first-ever S-1 application for an XRP ETF to the U.S. Securities and Exchange Commission (SEC). This filing, made on Wednesday morning, marks a significant milestone not only for XRP but also for the broader cryptocurrency market.

Bitwise, renowned for its expertise in crypto investing, has consistently championed XRP’s potential. Hunter Horsley, the company’s CEO, has repeatedly asserted that XRP is a “well-known and enduring asset in the crypto space,” possessing the capability to attract a diverse spectrum of investors.

The proposed XRP ETF, if approved, would offer a regulated and easily accessible pathway for both institutional and retail investors to gain exposure to this prominent cryptocurrency. This development could potentially unlock a new era for XRP by providing a framework for widespread adoption and mainstream recognition.