Xumm and Uphold Launches Zero-Fee Transaction Event for XRP

According to a statement published by Xumm on June 8, the firm announced that it had successfully collaborated with Uphold, facilitating a 0% transaction fee event for Topper transactions within Xumm. The upcoming event is all set to commence as of October 30, 2023, and is said to last till October 31, 2023, PST time zone. The project plans to offer 0% transaction fees for the Topper on-ramp for the next 48 hours (PST), while also offering fee-free XRP on-ramping via Topper

Xumm, a self-custodial XRP ledger wallet, with its recent on-ramp addition, aims to facilitate the purchase of digital assets with the help of debit or credit cards, ushering further versatility to the Xumm ecosystem. By emphasizing higher conversion rates, the Xumm wallet enhances the likelihood of successful transactions, thereby elevating the overall user experience.

A Closer Look Into The Announcement

The collaboration between the two entities, Xumm and Topper, is proving to be quite beneficial for the cryptocurrency realm, especially to users residing in the U.S. and Canada, since it is typically challenging to on-ramp cryptocurrencies there. The solution also jacks up major cryptocurrencies such as USD, GBP, and EUR, showcasing itself as an ideal platform for users in most countries.

Notably, on ramping refers to the process of exchanging fiat currencies for cryptocurrencies.

The upcoming project will empower Xumm users with the ability to buy XRP and other XRPL-supported assets with the help of a debit or credit card. However, what sets Xumm’s Topper integration apart from other current solutions is its primary emphasis on achieving a high conversion rate. This ensures that users will experience a greater success rate in their transactions, effectively eliminating the risk of failed purchases.

Also read: Germany’s Recession Fears Loom As Economy Shrinks in Q3

Xumm Emerging as a Key Player Within The XRP Community

According to reports, Xumm already boasts over 600,000 active users across several jurisdictions, portraying it as the go-to platform within the XRP community. Furthermore, the new Uphold integration and access to new regions could catapult even more new users to the platform.

However, Uphold-backed Topper isn’t the only fiat on-ramp option integrated by Xumm. In addition to Topper, Xumm recently integrated over 100 more payment methods and included several other partners, such as SimpleSwap and GateHub. The wide array of such choices simplifies the process for users to acquire XRP and join the XRPL ecosystem.

Following the news, the XRP price traded at $0.5667, up 2.22% over the last 24 hours, and its volume jumped 84.09% to $998.41 million.

Also read: UK Crypto Rule Gains Momentum Amid FTX Crash, Know All Here

Source