Global e-commerce and online crypto-friendly payment company, UQUID, has announced that users of XRP digital currency can now enjoy a new service from the company, allowing them to make payment for a variety of products with about 60% discount.
Uquid, which adopted XRP cryptocurrency in April 2019 for payment of insurance and utility bills in over 150 countries of the world, in an update mentioned that it now allows users of the remittance-oriented cryptocurrency buy more than 30,000 digital products and Facebook gift cards with about 60% discount at its digital shop.
At Uquid online shop, users can purchase coupons, digital games, gift cards, and universal mobile top-up cards. With the latest development, the e-commerce platform said people who perform international transfer can now enjoy more, and customers who do not before now can now perform international transactions with their services.
Is Speed a Major Reason Uquid Shop accepted XRP?
Uquid supports a number of cryptocurrencies, but the latest privilege and support was given to XRP and its users alone. However, this called for a series of questions.
For clarification purpose, Uquid said its shop accepted XRP based on the transaction settlement speed of the cryptocurrency which is around 3-5 seconds, among other reasons.
Uquid said XRP is basically built for transaction and payment purposes and its underlying technology –XRP Ledger is permissionless, open-source, and decentralized with the ability to settle transactions within a twinkle of an eye.
The online payment firm said XRP helps eliminate the presence of intermediary in transaction process, and it is an excellent instrument used to bridge two different currencies. Uquid also applauded XRP’s feeless transaction cost and the ability of XRP Ledger to execute about 15,000 transactions per second.
XRP Makes Global Payment Easy – Uquid
The unreliable, slow, and costly nature of traditional means of payment is seen as a major problem within the payment industry, however, RippleNet solves this glitch with its blockchain technology. Uquid said RippleNet is equipped with the most developed blockchain technology for international transactions.
RippleNet has a growing network of over 350 customers across the globe and a number of top banks have partnered Ripple to use its blockchain technology.
Uquid honors XRP Ledger’s scalability and throughput technology. The payment company said the seven years track record laid by XRP as a stable technology makes it easy for enterprises and institutions to adopt it, adding that unlike most crypto assets, XRP Ledger’s low energy consumption makes it ecofriendly.