[ad_1]
AMB Crypto has announced that PayPal is launching a new application that allows fast and cheap payments worldwide. The app calls Xoom and, if successful, could be a real competitor to the likes of Ripple (XRP).
The technology on which the Xoom application is based is not clear, but it will apparently provide services to 130 countries around the world. The hope is to offer fast and cheap cross-border payments to customers around the world. This is exactly what Ripple has tried to offer.
What Xoom has in its favor is an already predefined user base, as PayPal already has connected customers around the world. This new application simply brings a new degree of functionality to what the company has already provided.
What the app could have against is a limitation of the call for big customers, like banks. The transaction size is limited to £ 8,800 [$11,029], while Ripple has no predefined limit on the size of the transaction.
It is also unclear if this service can actually offer faster speeds than Ripple and lower fees, but it is apparent intent.
Will this new service replace XRP? Or will it be considered an unsuccessful attempt to remain relevant? Paste with Chepicap for all updates!
NEW! Bitcoin and Cryptocurrency Merch available at stacking tables!
[ad_2]
Source link
