Simplicity for the customer – new community made low-cost XRP transfer service about to go live

XRParrot is a product launched by one of the members of XRP community, dubbed as WietseWind, that has already launched couple of apps in the XRP ecosystem.

The XRParrot goal is simple, yet very ambitious:  To facilitate the easiest fiat-to-crypto conversion, starting with Euro-to-XRP. And it works in an exceptionally simple way as there are only two steps necessary:

  1. enter your phone number, banking and wallet data at: https://xrparrot.com/
  2. confirm entered information
  3. send money to the XRParrot bank account using your bank account
  4. receive XRP in your wallet

The fee for the service is 0,5% but minimum 1 €. The maximum deposit is €500 per month and it might be heightened in the future.

As the XRP focused blog writes, this is possible thanks for the so called PSD2 regulations in Europe:

“Due to new European banking regulations known as the PSD2 (Revised Directive on Payment Services) 1, banks must make their customers’ accounts available for connecting freely and securely with other banks and financial services companies, thereby encouraging competition to the benefit of European citizens.

This allows websites such as XRParrot to connect with European bank account holders via an IBAN and identifying telephone number.”

 

Ripple moves past Coinbase listing and aims Nasdaq

Ripple’s ambition is to make cross-border payments (remittances) a better experience by providing decentralized financial tools with strong institutional support. The one missing link for the Ripple company was the absence of their XRP token on the largest fiat on-ramp of the crypto world-  Coinbase.


Read a comparison of ripple vs stellar lumens.


And apparently luck seems to be finding Ripple as they have been involved in extensive negotiation to form an alliance with the exchange National Association of Securities Dealers Automated Quotation, better known as Nasdaq.

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This negotiation has been going on for a few months, with Ripple pushing its XRP token to be the first crypto coin to be enlisted when Nasdaq launches its crypto platform in 2019. According to a report by abacusjournal.com, a Nasdaq source revealed that the exchange is not interested in all the noise that occurs in the crypto market, but in scalability. Their exchange initiative going live in early 2019 can’t afford to ignore XRP, which ranks among the top five currencies by market capitalization.

New interested banks in Asia

Ripple’s cross-border payment solutions, powered by the XRP cryptocurrency, have seemingly gotten another party interested to explore them.

The party in question, MUFG Bank (and its subsidiary Banco MUFG Brasil S.A.) signed a memorandum of understanding with Banco Bradesco S.A. to collaborate on developing a new cross-border payment solution. The official announcement regarding this MoU says:

“Through this MOU, MUFG Bank has decided to start the collaborative development for cross-border payments between Japan and Brazil, utilizing Ripple’s cutting-edge technology. The new payment system — developed by Ripple, a San Francisco-based software vendor — will assist the banks as they work toward commercializing a high-speed, transparent and traceable cross-border payments solution between Japan and Brazil.”

 

 

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

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