XRP Fiat On-Ramp/Off-Ramp Services to Enter UK and France With Xumm Wallet

Ripple’s ODL Service On The Verge Of Reaching Global Coverage — And That’s Fiercely Bullish For XRP

  • The service is currently available in the Netherlands.
  • Xumm wallet has partnered with several platforms, including BTC Direct, Banxa Official, and GateHub, in the rollout.

XRP Ledger non-custodial wallet Xumm has announced plans to launch in France and the UK. In a Thursday tweet, the platform announced that it would roll out fiat on-ramp and off-ramp services in the two countries and beyond in partnership with BTC Direct and Banxa Official.

Xumm on/off-ramp services let users convert fiat currencies into XRP and vice versa through the Xumm Pro account. The service accepts Euros, allowing transfers from bank accounts to the XRP Ledger accounts.

In the Twitter thread, Xumm added that it’s planning to add more third-party providers, including stablecoin integration with GateHub. The wallet provider also plans to integrate the separate xApps into a single platform.

“More third-party providers are coming, so you will have plenty to choose from,” the announcement said. “While they are now separate xApps, we will soon add them all to one, fiat –XRP xApp listing the available options. A tight integration with GateHub for their stablecoin is also coming soon,” it added.

Xumm is currently offering XRP on-ramp/off-ramp in the Dutch market

Last month,  Xumm rolled out the services in the Netherlands – under the Dutch Central Bank – with the prospects of expanding to other jurisdictions, including Germany and Belgium. The company also noted that it is waiting for regulatory clarity in North America before introducing the service to the region.

XRP on-ramp/off-ramp users must pay an annual subscription fee of 60 USD or 60 Euros and an additional 5 USD or 5 Euros per year as set-up fees. The company uses the top exchange rates from the liquidity service providers in the conversion – according to the information provided on its website.

The required KYC and proof of address reportedly take half an hour to complete on xApp. Users need to send a deposit description by xApp from their International Bank Account Number (IBAN) to Xumm’s IBAN. The current amount that can be on-ramped is 15,000 EUR per rolling 365 days.

Besides the fiat services, Xumm users can access XRP Ledger-based stablecoin USDS, launched on November 11 in partnership with Web3 payment platform Stably.