Posted 3 years ago | by Ben Armstrong
Ripple's Xpring announced last Friday that it would be making a $750,000 USD investment in the BRD Mobile Wallet, which offers people the ability to hold and use in 170 countries globally. Xpring is working to boost the use of Ripple's token, XRP.
Ethan Beard, who is the senior vice president of Xpring, told media that:
“The BRD team has helped consumers on-ramp $6 (billion) worth of traditional currencies into digital currency, making them an ideal partner to continue the proliferation and adoption of cryptocurrencies like XRP to solve real-world problems.”
Tokens like Bitcoin and Dash have been increasingly used by people in nations like Argentina and Venezuela, as they don't have a reliable local currency. XRP could fulfill the same role, and the integration between XRP and the BRD mobile wallet may spur adoption of the XRP token.
XRP is Well Supported
The team at Ripple is serious about seeing the XRP token become a widely used means of exchange.
In a recent interview with Pomp, Ripple CEO Brad Garlinghouse commented that while the team at Ripple was trying to create a better Bitcoin, he sees multiple tokens emerging as viable options for global useage.
“We don’t talk about that today, cause I don’t view this as a competition between Bitcoin and XRP. I think there’s gonna be multiple winners in this (field). The marketplace will take care of the competition.”
Given the recent market action, Garlinghouse could very well be correct. Cryptos have rallied broadly this year, and many of the more valuable altcoins have tracked Bitcoin prices higher.
BRD is Ready to Go
A big part of extending the reach of any transactional medium is building up both the number of users, as well as the technology that allows the use of the medim. In the case of cryptos, this means making token transactions easy, and fast.
BRD CEO and co-founder Adam Traidman commented that:
“Ripple understands the need for a strong wallet partner as they push into key markets like cross-border banking and remittance, so we are thrilled to help them achieve their goals. In addition, it is our plan to have BRD be the cheapest and easiest place to buy XRP moving forward.”
The BRD mobile wallet has more than 2 million users globally, and makes crypto transactions simple for just about anyone who has a mobile device. XRP tokens have been trading up over the weekend, and are currently selling above the $0.27 USD level.