Spend.com has recently announced on Twitter that they are offering support for XRP. The third most popular digital currency is now available on the SpendApp. It will now be possible for users to buy and sell XRP with only a bank account. Additionally, interested users will be able to use XRP at more than 40 million locations worldwide with the Spend Wallet.
Spend.com Adds Support to XRP
In a recent Tweet released by Spend.com, they informed that the popular digital asset XRP is now supported by the SpendApp. Users will be able to purchase and sell XRP using their bank accounts. Using the card provided by the company, users will be able to spend XRP at more than 40 million shops around the world.
#XRP is now available on the #SpendApp. Buy/Sell $XRP with your bank account. Exchange XRP with all supported assets. Spend XRP at 40+ million locations with the Spend Wallet by instantly converting to fiat on the #Spend Visa Card!@Ripple @bgarlinghouse @chrislarsensf @JoelKatz pic.twitter.com/bv3LKtErhM
— Spend.com (@SpendCard) February 16, 2019
The card allows for immediate conversion of XRP to USD activating the asset and swipe option. Thus, this would make it easier for interested users to use their XRP as a means of payment in many different stores around the world.
Regarding the future of the company, Spend.com informed that they are working to bring the Spend Card to Europe. They are also thinking about releasing cards on the European continent.
Additionally, using the company’s wallet, users can store, spend and send more than 16 different virtual currencies. At the same time, they can use these digital assets on their physical cards as well. The company follows all the KYC and AML requirements.
Users can also secure loans from Spend and borrow money with an interest rate of 11 percent. However, not everyone would be able to access the lending service. Those that have a good credit rating would be able to d it. Furthermore, this option is available in just a few regions and it requires approval.
Just a few days ago, the company announced support for other digital currencies. Some of the other cryptocurrencies supported are Litecoin (LTC), EOS, Ethereum (ETH) and Bitcoin (BTC), among others.
At the time of writing this article, XRP is the third largest cryptocurrency. XRP has a market capitalization of $12.39 and each coin can be purchased for $0.3.
With these projects, it will be able for cryptocurrencies to reach new individuals and people ready to use virtual currencies every single day. For XRP this is also very positive because the U.S. Securities and Exchange Commission (SEC) did not provide information on whether XRP is a security or not.