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 founders see XRParrot as a mean that will serve either users new to XRP, without exchange accounts, or users wishing to make it easier to repetitively get some XRP.
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 couple of steps necessary:
- enter your phone number, banking and wallet data at: https://xrparrot.com/
- confirm entered information
- send money to the XRParrot bank account using your bank account
- 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. You can also make regular payments every month by configuring an automated money transfer with your bank to the XRParrot bank account, with your Payment reference (Payment ID).
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.”
Read a comparison of ripple vs stellar lumens.
Will XRParrot be launched outside of EU?
