In today’s business milieu, more businesses are embracing cryptocurrency due to the unique benefits it offers. Some of those include: speed, control, global reach and security. Take a minute to ponder over it. When you have a highly rated virtual currency such as Ripple (XRP) delivering those fascinating features, it is actually a plus to the users.
Putting The Current Hitch Into Perspective
Before going over to XRP-Wirex partnership, let’s put the setback of the current financial services industry into perspective. One of the drawbacks merchants who perform cross-border payments grapple with every day is the inherent delay in such payments. Funnily enough, where the delay could be minimized, the merchant is expected to pay higher transaction fees. While paying more to have the transaction processed instantly may not be a challenge due to transaction exigency, this could be a challenge to those who cannot afford it. SWIFT is a typical example of a fiat currency-based, cross-border payment system, where users face the delay hitch. Though, here’s where digital currency is the x-factor.
Tackling The Problem With Cryptocurrency
In clear terms, these benefits cryptocurrencies deliver are the most important factors making them bubble under the radar today. With XRP, such transactions happen in a flash. The most heartwarming aspect of the blockchain innovation is that traditional payment systems are leveraging the capacity of the platform, which is an admission that the blockchain offers much better architecture. Recently, for instance, cross-border payment provider Western Union has been using XRP and xRapid to wire money from the US to Mexico. What more can we say?
Understanding Wirex
Wirex is simply a conduit that delivers these benefits (speed, control, global reach and security). It allows users to interact between cryptocurrency and fiat currencies with a 3D debit card. With 40 million merchants scattered across 200 countries using it, Wirex is undoubtedly one of the most popular payment systems worldwide.
With the XRP-Wirex business partnership concluded, there is seamless XRP-Wirex wallet integration. Well, it means that users can link the wallet to their fiat currency accounts (debit and credit cards) and enjoy those benefits, most especially users with verified accounts living in the Europe Economic Area (EEA).
Reaping The Benefits
Although this partnership happened just three weeks ago, the XRP-Wirex is already touching lives around the world. Wirex released a statement, saying that in less than 12 hours after the partnership was announced, about $2 million worth of Ripple (XRP) was deposited to various XRP-Wirex wallets.
Furthermore, real people worldwide have been attesting that XRP-Wirex wallet is delivering speed, control, global reach and security. Additionally, they are encouraging non-users to forego fear, uncertainty and doubt (FUD) and join the growing XRP community. Truly, this partnership is one of the best things happening to the XRP community right now.
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