Advertise
Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Oct 18, 2023 06:32 UTC
-
Here’s How Ripple’s XRP is Transforming Instant Payments for Businesses
XRP enables quick and efficient transactions, even when traditional banking hours are closed, as demonstrated by TapJet.
Ripple's recent partnership with Roblox will allow users to make in-game purchases with XRP.
Ripple's full license from the Monetary Authority of Singapore and other collaboration indicate its intent to expand its reach.
Even if we might not realize it all the time, cryptocurrency has been active in the background – working to revolutionize the way we handle transactions.
One digital asset, in particular, Ripple’s XRP, has been garnering attention for its practical application in solving a real-world problem – the “Friday/weekend problem” associated with instant payments.
How? We won’t hold back anything from you! Read on.
XRP’s Solutions
In a world where everything happens instantly, why should payments be any different?
John Deaton, a pro-XRP lawyer and the founder of CryptoLawUS, recently shed light on this issue. He spotlighted XRP’s unique use case in the aviation industry, specifically through its collaboration with TapJets, often dubbed as the “Uber for Jets.”
TapJets, which filed an amicus brief in the Ripple case, faces a logistical challenge when traditional banking hours come to a halt over the weekend. Traditional wire transfers become unfeasible in these circumstances, causing last-minute jet charters to turn into nightmares.
Enter XRP, a cryptocurrency designed to facilitate quick and efficient transactions.
“In just 3-5 seconds, you’ve paid for the costs upfront, and your jet is on standby,” states Deaton.
This has made XRP the currency of choice for TapJets in tackling this real-world problem, as strongly supported by the company’s brief.
Also Read: Ripple’s New Job Listing Sparks Speculation; Is an IPO Coming?
XRP and Roblox: Match Made in Heaven?
Ripple doesn’t stop there. It has recently forged a remarkable partnership with Roblox, a leading gaming platform. Roblox, with over 200 million monthly active users and 65.5 million daily active users (of which 44% are under 13), witnessed its audience spending a staggering $773 million on in-game purchases in the first quarter of 2023.
The integration was a complex affair involving multiple stakeholders, including Xsolla, a firm specializing in in-game transactions on Roblox, and BitPay, tasked with ensuring the smooth integration of cryptocurrency wallets.
But Wait… There’s More!
Ripple is showing no signs of slowing down. Fresh from its legal victory against the U.S. Securities and Exchange Commission (SEC), the company has secured a full license from the Monetary Authority of Singapore. It’s also engaged in discussions for a potential collaboration with the Australian Freight & Trade Alliance, indicating its intent to expand into various sectors.
As cryptocurrencies mature, integrating XRP into platforms like Roblox and TapJets proves the digital asset’s ability to offer real-world solutions.
Yes 
No 
