Mercuryo, a global payment network, is the latest fintech company to add support for Ripple (XRP).
According to a recent announcement, XRP was integrated into the Mercuryo payments platform, enabling users to adopt the asset class in cross-border payments.
“Mercuryo has integrated $XRP,” the company tweeted recently.
The popular payment provider also used the opportunity to highlight XRP’s importance in cross-border payments.
“@ripple has made waves in the cross-border payments industry powered by $XRP. The protocol is used by major banks to facilitate rapid, secure, + cheap transactions. Ripple initially began as “RipplePay” in 2004 – 5 years before Bitcoin’s launch,” Mercuryo noted.
MERCURYO HAS INTEGRATED $XRP
@RIPPLE HAS MADE WAVES IN THE CROSS-BORDER PAYMENTS INDUSTRY POWERED BY $XRP
THE PROTOCOL IS USED BY MAJOR BANKS TO FACILITATE RAPID, SECURE, + CHEAP TRANSACTING
RIPPLE INITIALLY BEGAN AS “RIPPLEPAY” IN 2004 – 5 YEARS BEFORE BITCOIN’S LAUNCH PIC.TWITTER.COM/CKUAK737TA
— MERCURYO (@MERCURYO_IO) JULY 29, 2022
It is noteworthy that XRP is not the only cryptocurrency that Mercuryo recently integrated into its platform. As announced by Mercuryo, the fintech company also added support for Litecoin (LTC), Fantom (FTM), Circle’s stablecoin (USDC), and popular meme-based cryptocurrency Dogecoin (DOGE).
Mercuryo Features and Services
Mercuryo is one of the fintech companies that rely on cryptocurrencies for cross-border payments. The firm has adopted the nascent asset class due to the enormous opportunities associated with them.
Mercuryo is looking forward to becoming a major player in the payments sector and it believes allying with cryptocurrency companies would help it achieve this goal.
Since launching in 2018, Mercuryo has partnered with various crypto-related firms, including Binance, Bithumb, Bitfinex, Trust Wallet, etc.
Meanwhile, the company also supports fiat currencies for cross-border settlements and has gone ahead and added as many fiat currencies as possible.
Last month, Mercuryo added nine fiats to its list of supported traditional currencies. Some of the new fiats added last month include the Australian dollar, the Canadian dollar, Swiss franc, Danish krone, etc. Mercuryo has its headquarters in London.
Widespread Adoption of XRP Outside the U.S.
The adoption of XRP in payments has been growing at a steady pace in recent times. While many U.S.-based payment companies have halted support for XRP following SEC’s assertion that XRP is a security, firms outside of the United States have continued to adopt the asset class in payments.
In May 2022, TheCryptoBasic reported that SBI Motors announced that its customers can purchase used cars using XRP.