MasterCard Coming To XRP? Prominent Developer Teases Major Upgrade
November 28 2023 - 8:00AM
NEWSBTC
XRP investors may be looking at one of the most important upgrades
yet according to a prominent developer in the community. This was
revealed by the lead developer of one of the major projects
building on the XRP Ledger, hinting that a MasterCard integration
may be coming. Bringing MasterCard, Self-Custody, And More To XRP
In a post that was shared on X (formerly Twitter), Xumm Wallet lead
developer Wietse Wind excitedly announced to the community that
self-custody is on the way. The announcement featured a screenshot
that showed the option to make purchases with prepaid XRP, a
feature that is yet to drop. Related Reading: Blast Surpasses
Cardano And Base – Here’s How Much DeFi Investors Have Locked
“Right on time for the holidays: the gift of self custody. Xumm
@Tangem NFC hardware wallets: ordered with optional pre-paid
XRP to cover the account reserve & an additional 50$ in XRP (no
KYC). Full announcement & details: upcoming week,” the
developer said. This sparked a lot of excitement in the community
but these also came with questions. One X user asked if users would
be able to link a credit card to their Xumm wallet to make
purchases. The developer responded by saying “These are hardware
wallets, they don’t work @ terminals and ATMs.” However, in a
follow-up, the user declared “Debit cards and Xumm is all I want.”
To which Wietse Wind responded that they are working on it. “Debit
MasterCard, self custody, card authorization with custom on ledger
limits on your account using a Hook,” Wietse Wind revealed. Working
on this. Debit MasterCard, self custody, card authorization with
custom on ledger limits on your account using a Hook.
https://t.co/BOlFKlddzx — WietseWind (🛠+🪝 Xumm @ XRPL Labs)
(@WietseWind) November 26, 2023 Token price recovers to $0.6 |
Source: XRPUSD on Tradingview.com Concerns About Card Fees
Following Wietse Wind’s announcement that the team was working on
bringing MasterCard integration to the XRP wallet, questions flowed
as community members sought out clarifications on what this could
mean. One particularly recurring theme was card fees which users
have come to loathe. One user John Mcclain implored the team to not
have a +1% fee on charges, referencing the charges by another
prominent payment platform in the XRP space, Uphold, which the user
says charges a high fee. According to them, “This can really add up
quick!” Related Reading: Ripple IPO May Be Delayed, Crypto Pundit
Gives Reasons Why Moving to allay worries, Wietse Wind reminded
users that using credit and debit cards means that there will be
fees attached. This is because this is how these cards work, and
also “that’s how they are able to insure, give cash backs, and make
tremendous amounts of money.” However, this problem does not seem
to be alien to the Xumm team as the developer revealed that running
entirely separate rails would be beneficial in addressing the fees
issue. But for now, “we’ll have to address the chicken/egg problem
over and over again.” Featured image from The Coin Republic, chart
from Tradingview.com
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