It is the latest addition to a growing list of XRPL on/off-ramps the wallet provides, eliminating the need for centralized exchanges.
Xumm has launched a Stably xApp to allow users in the United States to purchase the Stably USD stablecoin for fiat using various funding options.
Stably first disclosed the integration in a tweet yesterday. As highlighted by Xumm in a press release, it makes it more convenient for U.S. customers to move USD from a bank account to the XRP Ledger.
Check out the newest xApp in @XummWallet: @Stably_Official has launched an On/Off-Ramp for our users from the USA. ??
Read our blog for details: https://t.co/CRYIHX4bSohttps://t.co/chktxkYQUX
— Xumm Wallet (@XummWallet) March 2, 2023
For context, xApps refer to embedded web apps within the Xumm wallet providing specific services to Xumm users. As disclosed in the press release, users can take advantage of the latest integration in six simple steps.Â
- Open your Xumm wallet
- Select the Stably Ramp from the xApp page
- Complete know-your-customer requirements and choose your preferred funding option
- Enter the amount of Stably USD you want to receiveÂ
- Enter and confirm your wallet address
- Receive your Stably USD in your wallet
You should have already added the Stably USD trustline to your wallet.
At press time, only Automated Clearing House transfers are allowed with the choice to choose between an instant transfer at a fixed $2 cost or the regular transfer that takes five business days for a 0.5% fee. Per details from the xApp, wire transfer, and debit card payment options are coming soon. The debit card option would make the service available beyond the U.S. to about 45 countries.
The Stably Ramp is the latest addition to a growing list of on/off-ramps available on the leading XRPL wallet eliminating the need for centralized exchanges. Recall that Xumm’s proprietary XRP on/off-ramp, available to only Xumm Pro users, recently expanded to support customers in the United Kingdom. Other providers include BTC Direct, which services European customers, and Banxa, which supports most countries.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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