Ripple (XRP) is one of the most widely used blockchain platforms for cross border and ledger payment solutions. Despite this the blockchain platform has struggled to promote its native token XRP as many financial institutions are only interested in its payment solutions such as xRapids and xCurrent.
However, this could be about to change with reports circulating that eCommerce giants eBay are looking to incorporate crypto payments on its platform. The e-Commerce giants are available in about 190 countries and hundreds of millions in transaction on a daily basis.
It is understood that eBay is considering tapping into the opportunities offered by cryptocurrencies despite the volatile nature of the market. There has been increased adoption of cryptocurrencies as a means of payment on different platforms across the world.
But nothing would legitimize the adoption of crypto faster than a fortune 500 company integrating crypto payments. If the news is true about eBay,s adoption then the crypto landscape is likely to undergo a radical transformation in the coming weeks.
It would be expected that popular coins such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP) would be considered as pioneer currencies on the platform. Ripple (XRP) is well placed as the perfect currency for eBay as it is essentially a decentralized distributed ledger digitoken
eBay is clearly a cross-border trade company, and its first transaction took place across borders with the sale of a laser pointer from the U.S to Canada.
Ripple can learn from the rise to the popularity of eBay as it looks to expand its cross-border solutions to more countries.
Blockchain technology has been proffered as a solution to streamline cross border payment processes due to the decentralized nature of the technology. Blockchain platforms like Ripple can help reduce the complexities on logistics on e-Commerce sites like eBay.
Ripple solutions can help the complexities of tracking and processing transactions within their ecosystem. XRP as a currency can serve as the settling point in bridging these problems as it provides, quick, safe and reliable means of completing transactions.
it remains to seen whether eBay would eventually accept crypto payments on its platform. Nevertheless, the recent attention that cryptocurrency has been receiving from mainstream financial institutions shows the progress that blockchain technology has made in 2019.