Not too long ago, Wietse Wind had a shocking/surprising announcement at the XRP community meetup held in Amsterdam. Wietse announced a new mobile banking platform that would allow end users not to only hold but would allow them to spend dollars, euros, XRP along with other currencies without the help of a 3rd party financial institution.
Well, we got news just the other day that Xign will be rebranded to Xumm as there might have been some potential issues with JPMorgan and a previously used application by them. We first pointed this out on May 31st and quickly tagged @wietseWind in a Twitter post asking about this.
@WietseWind JP Morgan acquired a company called Xign in 2007, are you able to use this name for your new mobile banking platform?
— XRP Researcher | XRP Investor (@XRPNews_) May 31, 2019
Just a couple days late, Wietse Wind announced the rebrand and has made sure that there are no relevant trademarks floating around. Here is the office tweet from Wind.
We rebranded our @XRPLLabs signing app & platform to 𝘅𝘂𝗺𝗺. We went from the Latin word 𝗌𝗎𝗆𝗆𝖺 to 𝗌𝗎𝗆𝗆 to 𝘅𝘂𝗺𝗺. No relevant trademarks (so we started that process) and available domains (https://t.co/IH7BFQfAa7, just a placeholder for now). pic.twitter.com/PRETY3SkY0
— Wietse Wind (@WietseWind) June 3, 2019
Xumm has a better feel to it in our opinion. So what is Xumm? Well, Xumm is the exact same thing as Xign. Xumm is a wallet that acts more like a traditional bank wallet without the need for a bank. Xumm will support transactions using the XRP Ledger (which is music to ever XRP holder ears). Another awesome feature about Xumm is that it supports hot and cold wallet privileges. You will be able to spend money from your hot wallet daily or save in the cold wallet. As it is an end-user payment app, the user can scan a QR code and receive the payment details to his mobile. Then he has a privilege to accept or deny the transaction. By far the coolest feature about this wallet is the ability to find friends through Xumm. This makes the wallet very very convenient. Xumm has a Find-Me where it will help locate your friends by looking up there address books. In addition to this, it also indicates the frequent users with you have done business in the past. This sought of reminds us of the popular app Venemo, where you can look people up in your address book and it shows the most recent transaction history in your feed.