The team behind Xumm Wallet, XRPL Labs, has partnered with GateHub to introduce fiat on/off-ramp for 14 assets, including wrapped XRP.
XRPL Labs, the pioneering team responsible for the XRPL-based self-custodial wallet Xumm, has forged a strategic alliance with GateHub, a prominent crypto trading platform and provider of hot wallet services.
Through this collaboration, XRPL Labs have introduced a seamless on-ramp and off-ramp feature on Xumm for 14 assets, including Wrapped XRP (WXRP).
GateHub called attention to the development in a post on X today. The platform noted that users can now leverage its gateway to transfer funds in and out of their Xumm wallets.
We've teamed up with @XummWallet to bring you On/Off-Ramp! 🚧
Starting today you can now easily transfer funds in and out of your Xumm account via @GateHub 😎
— GateHub (@GateHub) August 22, 2023
Information from the press release suggests that the collaboration will involve a total of 14 assets. They include fiat currencies like EUR, USD, and GBP and crypto assets such as BTC, ETH, WXRP, SGB, FLR, BCH, LTC, ETC, GALA, DSH, and USDC.
The press release confirms that this collaboration will enable users to seamlessly transfer the supported assets between the XRP Ledger (XRPL) and various fiat and crypto networks, including SWIFT, SEPA, Bitcoin, and Ethereum.
Commenting on the development, GateHub’s CEO, Enej Pungerčar, highlighted that the partnership’s scope will encompass any forthcoming assets that GateHub opts to support in the future.
Wietse Wind, the founder of XRPL Labs, conveyed his enthusiasm for the recent addition. He shared his experience of effortlessly adding EUR to his XRPL account and transferring it back to his bank account within minutes.
“This is it. This is what the ecosystem needs. This is where we’re going,” Wind exclaimed.
I AM SO SUPER EXCITED ABOUT THIS 😀
I just added EUR to my XRPL account in under one minute. Then sent it back to my bank account in within another minute.
— WietseWind (🛠+🪝 Xumm @ XRPL Labs) (@WietseWind) August 22, 2023
GateHub on Xumm
For Xumm users seeking to move any asset supported by GateHub to or from their wallets, the process involves clicking on the specific asset within their Xumm wallet and then opting for the “add” or “withdraw” option.
It is important to note that this functionality is only accessible to users who have undergone GateHub’s KYC verification process.
Users must log in with their GateHub accounts during their initial use of this feature. However, subsequent times will only involve direct deposit and withdrawals.
This GateHub inclusion is the latest in a line of notable developments carried out by the Xumm development team to enable seamless transfer of value between their XRPL accounts and their fiat bank accounts.
The development comes three months after Xumm integrated on-ramp aggregator Poko to add over 100 payment methods. In addition, the team partnered with Guardarian in May to provide on-ramp and off-ramp support for over 40 currencies.