- Ripple partners with MoonPay to offer direct XRP purchase and storage, streamlining crypto transactions through the MoonPay app.
- RLUSD, Ripple’s stablecoin, is introduced to enhance liquidity, developed with collaboration from major crypto platforms.
- MoonPay focuses on ease of use, adopting a one-tap feature for returning users aiming for seamless crypto adoption similar to PayPal.
Ripple has partnered with MoonPay, a cryptocurrency payment processor, to incorporate XRP buying, holding, and trading within the MoonPay application. This partnership also signifies the beginning of the RLUSD Ripple Branded Stablecoin pegged to the US dollar.
RLUSD was developed with key platforms, including Uphold, Bitstamp, Bitso, Independent Reserve, CoinMENA, and Bullish. The stablecoin aims to increase liquidity within the Ripple ecosystem and simplify crypto transactions.
MoonPay Enhances XRP Adoption with One-Tap Convenience
MoonPay confirmed the XRP integration on social media, stating that new or returning users can manage their XRP holdings without switching platforms. During an interview with The Paul Barron Network, Ivan Soto-Wright, CEO of MoonPay, emphasized the company’s vision to streamline user experience.
He explained that MoonPay seeks to make crypto wallets as user-friendly as traditional banking apps. The integration with Ripple aligns with this objective by simplifying fund management within the app.
Focus on Reducing Onboarding Friction
The partnership introduces a streamlined onboarding process to reduce entry barriers for new users. Soto-Wright highlighted MoonPay’s one-tap transaction feature, simplifying transactions for users who have already completed Know Your Customer (KYC) and biometric verification.
Soto-Wright also compared MoonPay’s approach to PayPal’s early challenges, explaining that the goal is to create a polished experience similar to Apple Pay. MoonPay revamped its product offerings this year, focusing on a seamless, glitch-free interface.
MoonPay’s Vision for 2025 Adoption
According to Soto-Wright, 2024 has been a significant year for MoonPay, with product updates paving the way for broader adoption. The platform’s renewed focus on user experience reflects MoonPay’s preparation for more widespread cryptocurrency adoption by 2025.
The Ripple-MoonPay partnership is expected to boost liquidity, simplify transactions, and attract new users by offering a smooth and accessible interface, bringing crypto closer to mainstream financial systems.
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