Ripple and XRP continue to grow all over the world. CoinGate has just launched native XRP support to its customers. This would allow individuals to pay for goods and services using the popular digital asset XRP. The use cases for XRP seem to be expanding as the crypto market remains in a bear trend.
XRP Now Accepted in 4,500 Stores
Although Ripple has been criticized for being centralized, the digital asset used on the Ripple ledger is now accepted in 4,500 stores around the world. The information was announced by CoinGate in a blog post a few days ago.
Big news for #XRPcommunity and our merchants alike! We launched native $XRP support to our customers, meaning #XRP is now accepted as payment at thousands of vendors across the Net. Proceed to our blog for more detailed information! https://t.co/MnY2n6onDH pic.twitter.com/BYTxROGrpx
— CoinGate (@CoinGatecom) February 1, 2019
The decision to add support for XRP was taken after receiving feedback from the community. According to CoinGate, users will now be able to purchase a VPN, a video game and many other different things.
The blog post reads as follows:
“For our merchants, it is also quite a huge deal as currently, XRP falls into a category of the largest cryptocurrency markets according to capitalization. Hence, it makes us confident that this integration will definitely bring more customers to our merchants rather than soon.”
The company informed that they are very happy to allow the XRP community to have new use cases for their favourite digital asset. In this way, CoinGate aims at increasing the utility of the XRP cryptocurrency. As soon as vendors start receiving XRP payments, they will have an option to decide whether they want to settle their revenue in Euros, Bitcoin, Ether or just keep them in XRP.
XRP are usually processed in a very fast way and for very low fees. Although there are some individuals and analysts that believe that the XRP ledger is centralized, CoinGate explains that Ripple currently has a decentralization strategy. In the future, the XRP Ledger will have even more validators around the world.
Although the company is focusing on large financial companies, smaller users can use the digital asset and enjoy the benefits that it provides. For example, the payments can pay a fee of $0.00001.
At the moment of writing this article, XRP is being traded around $0.3059. The digital currency has also a market capitalization of $12.59 billion. In the future, the number of companies ready to work with XRP is expected to increase.