The development aims to enhance the Xumm wallet’s functionality and enable users to easily convert assets from other blockchain networks to XRP.
To make transitioning to the XRP Ledger ecosystem significantly more accessible and intuitive for everyone, developers of the Xumm wallet have integrated the decentralized crypto exchange SimpleSwap as an xApp into its platform.
SimpleSwap, which supports over 1000 crypto assets and several fiat currencies, prides itself as a user-friendly and reliable service for crypto buying, selling, and swapping.
The integration of SimpleSwap into Xumm by the XRPL Labs aims to enhance the Xumm platform and offer a seamless experience for swapping various cryptocurrencies on different networks into XRP.
Own crypto, but not XRP? Say hi to simpler onboarding to the XRP Ledger! ?
We've integrated @SimpleSwap_io as an xApp in Xumm. SimpleSwap enables you to swap your crypto for XRP seamlessly. The #XRPL experience.
Dive in: https://t.co/0epcVETxXx#Xumm #XRPL #XRP
— Xumm Wallet ? (@XummWallet) July 3, 2023
Part of the Monday update reads, “This new addition offers a streamlined and straightforward approach simplifying the process of converting cryptocurrencies into XRP, making the transition into the XRPL ecosystem smoother than ever.”
Partly inspired by a request from the creator of xrp.cafe, the popular Xumm-supported non-fungible token (NFT) marketplace, the partnership between SimpleSwap and Xumm is to primarily bridge the gap in onboarding new users to the XRP ecosystem, according to the announcement.
Also, the Xumm team added that the development would make it easier and simpler for those accustomed to traditional banking structures to join the moving crypto train.
Inbound Swaps to XRP Only
In particular, SimpleSwap’s integration on Xumm only supports inbound swaps at this initial stage. This entails that users can only use the wallet to convert other cryptocurrencies to XRP but cannot swap from XRP to other cryptocurrencies.
According to the team, the aim is to minimize the risk of hacks and ensure maximum customer safety. The update added, “When Xumm receives, we know the account can be accessed. However, for outbound transactions to non-XRPL ledgers, ensuring user access isn’t possible.”
Rising Developments on Xumm
The XRPL Labs have onboarded numerous developments on the Xumm wallet in recent months to improve user experience. In early May, Xumm partnered with Guardarian to allow users to buy and sell XRP with over 40 fiat currencies.
Shortly after, the XRPL Labs collaborated with payment service provider Poko to onboard over 100 payments method on Xumm for XRP purchases. As reported, Zerpmon, an XRPL-based game that allows players to earn XRP directly to their Xumm wallet, was launched in June.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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