Uphold, a cryptocurrency exchange that is also known as “Anything to Anything” now allows its users that are holding the digital token XRP to make an instant purchase of Gold and Silver with the digital asset.
The XRP community members were recently hinted by a supposed XRP enthusiast identified on Twitter as XRPCouldBeTheStandard.
The user captioned the screenshot of the section that illustrates how the purchase of Gold and Silver is done using the digital token XRP via the Uphold App. He also indicated that the payment is instant due to the transaction speed of XRP.
XRPCouldBeTheStandard shared this, “XRP To XAG, XRP To XAU Instantly! Wow just wow.”
— 𝗕𝗮𝗻𝗸 𝑿𝑹𝑷 (@BankXRP) February 19, 2020
The Growth of Remittances between the United States and Mexico
This corridor is recognized by Ripple as one of the largest remittance corridors in the world.
According to the CEO, the company’s remittance platform processed $54 million in XRP between the US and Mexico in the first week of February 2020.
He said, “Last week, we did $54 million of XRP flows into Mexico. That’s 7.5% of all flows from the US dollar to Mexican peso. That’s up from 3% in December. So this is growing very quickly.”
The Ripple’s CEO believes that the blockchain tech is really making a positive impact in the lives of the customers, which brings about the rapid growth of remittances.
“You have to focus on a real problem, a real customer and drive that utility. With 7.5% of liquidity into Mexico are being driven through XRP, you start to really see that it is not a science experiment,” said Brad Garlinghouse.