Crypto users will soon be able to store, send, and receive XRP through the Cardano Web3 non-custodial blockchain wallet, Lace.
This comes after Cardano Founder Charles Hoskinson announced plans to add XRP support to the ecosystem’s native wallet. The Cardano founder recently announced the initiative in a ‘Surprise AMA’ session on YouTube.
During the session, which lasted over three hours, a user asked Hoskinson whether he was still discussing potential partnerships with the Ripple team. In response, Hoskinson confirmed that things are moving well between the IOG and Ripple teams, suggesting their initial rivalries are behind them.
Lace Wallet to Support XRP
As for potential partnerships, he revealed that the development team behind Cardano–IOG intends to add XRP support for Lace Wallet.
He opined that the support will enable XRP users to hold their XRP coins in the Lace Wallet. In addition to storing XRP on Lace, users would be able to send and receive the coin.
Recall that the IOG launched Lace on the Cardano mainnet in April 2023, referring to it as the most innovative and secure wallet platform. At its launch, it only supported Cardano native assets like ADA.
However, the team has released interesting updates over the past few months to transform Lace into a multi-chain wallet. Last month, it added support for Bitcoin, allowing users to store, send, and receive BTC.
Now, Hoskinson has revealed plans to integrate XRP into the Lace Wallet. However, he did not reveal when this integration will happen.
XRP to be Part of Midnight Airdrop
Further, the Cardano founder reiterated that XRP users will also participate in the upcoming airdrop for the Midnight token, NIGHT. For context, Midnight is a privacy-focused blockchain that allows decentralized applications to handle sensitive data while maintaining transparency and security.
Like most blockchain projects, Midnight has two native tokens: NIGHT and DUST. While NIGHT serves as Midnight’s governance token, DUST will be used for shielded transactions.
Earlier this month, Hoskinson revealed plans to airdrop NIGHT tokens to 37 million users across 8 blockchains, including XRP’s underlying network, XRP Ledger (XRPL). In his recent AMA session, he confirmed that XRP holders are still eligible for the NIGHT airdrop, which is expected to be distributed in the coming months.
Ripple Invites Hoskinson to Speak at an Event
Lastly, the Cardano founder disclosed that Ripple’s CTO, David Schwartz, invited him to speak at a Ripple event. While he did not provide many details about the invitation, it signals a strong vote of confidence in him from the Ripple team.
With Hoskinson and the Ripple team having reconciled, both sides have hinted at potential partnerships involving RLUSD and Midnight. The integration of XRP into Lace and Schwartz’s invitation for Hoskinson to speak at a Ripple event suggest that the relationship between the two parties is evolving.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
