Partnership between Ripple and Omni will see XRP being used as payment method
Users of the rental marketplace will now earn in this cryptocurrency for renting their stuffs
Lately, the XRP has been widely covered in news media for the significant adoption it is experiencing in different industries. As Ripple – the San Francisco-based blockchain company that developed and promotes this cryptocurrency – is making efforts to contribute in the mass adoption of distributed ledger technology (DLT), more and more companies, whether from the financial sector or other industries, began to embrace the benefits of their products and integrate them to their business models.
One of the first company reported to strike a partnership with the blockchain payment protocol firm at the beginning of this year was Omni, a digital marketplace where users can earn money for renting out their properties. 10 months later, he announces that they have added another cash out option for their users, who now can choose between the accustomed fiat currency, the USD, and the crypto asset XRP. The announcement was made by Thomas McLeod, Founder of the aforementioned startup.
“Today I’m very excited to announce that we have integrated XRP into our product so Omni members now have the option to cash out their rental earnings to an XRP wallet. This is especially exciting because this is the first time that consumers can get XRP outside of an exchange,” he said in a Medium post.
Crypto for renters
As stated by Tom, users will be able to interact with blockchain technology thanks to the implementation of XRP as a payment method when cashing out their earnings for renting their stuff. Notably, this also means that users located in San Francisco Bay Area and Portland can now possess XRP without having to purchase them in a crypto exchange.
Another highlight of this implementation is that renters will have total control of their XRP, as the private keys will be in their possession. This is important, since the main goal of decentralized technology is to empower the people in regards of their finances, without the need of a third party custodian, nor the intervention of an intermediary, middlemen, or the government.
“By enabling XRP cash outs we’re aiming to lower the barrier to entry for crypto-curious consumers and also reduce the risk because you still own the asset,” Tom stated.
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