Xumm, a self-custodial XRP ledger wallet, has revealed plans to host a 0% transaction fee event specifically for Topper-related transactions. This initiative aims to enhance accessibility and ease of acquiring digital assets, notably XRP, through an innovative collaboration.
Collaboration and Event Details
Xumm, in a statement released on June 8, announced a successful collaboration with Uphold, leading to the facilitation of a unique 0% transaction fee event tailored for Topper transactions within the Xumm ecosystem.
During this 48-hour period, Xumm plans to offer zero transaction fees for the Topper on-ramp, providing users with a fee-free opportunity to acquire XRP.
Enhancing the Xumm Ecosystem
With this latest addition to its platform, Xumm seeks to make the purchase of digital assets more accessible by allowing users to use debit or credit cards. This addition enhances the versatility of the Xumm ecosystem, emphasizing higher conversion rates to increase the likelihood of successful transactions and improve the overall user experience.
The collaboration between Xumm and Topper presents a significant benefit to the cryptocurrency community, especially for users in the U.S. and Canada who often face challenges with on-ramping cryptocurrencies. The solution not only caters to XRP but also major fiat currencies such as USD, GBP, and EUR, making it an attractive platform for users in various countries.
What Is On Ramping?
On-ramping, in this context, refers to the process of exchanging fiat currencies for cryptocurrencies, simplifying the path for users to enter the world of digital assets.
High Conversion Rate Focus
One distinguishing feature of Xumm’s Topper integration is its emphasis on achieving a high conversion rate. This prioritization ensures that users experience a higher success rate in their transactions and minimizes the risk of failed purchases.
With over 600,000 active users across multiple jurisdictions, Xumm is establishing itself as a prominent platform within the XRP community. The integration with Uphold and access to new regions are expected to attract even more users to the platform.
Diverse Fiat On-Ramp Options
Topper, backed by Uphold, is not the sole fiat on-ramp integrated by Xumm. The platform recently incorporated over 100 additional payment methods and partnered with several other organizations, including SimpleSwap and GateHub. This extensive selection also simplifies the process for users to obtain XRP and participate in the XRPL ecosystem.
Following this announcement, the price of XRP traded at $0.5667, marking a 2.22% increase over the last 24 hours. Additionally, its trading volume surged by 84.09% to reach $998.41 million.