XRP Can Now Be Easily Bought in Europe Straight from Bank Account, Here’s How

“XRP for EUR” solution becomes available in XRPL’s Xumm wallet

The lead developer of the XRP Ledger, Witsey Wind, reports An on-ramp solution has been added to Xumm Wallet. With the innovation, users will be able to buy XRP for fiat through Xumm directly from their bank accounts.

🤔 How does this work?

You onboard once, we do the required KYC & Proof of Address. You can then open the On/Off-ramp xApp any time.

We give you a deposit description which you can use to send from your IBAN to our IBAN. Within minutes you'll have the XRP in your XRPL account.

— WietseWind – 🛠 XUMM @ XRPL Labs (@WietseWind) October 12, 2022

At the moment, the new product is only available in the Netherlands, the home country of the Xumm Wallet developers. However, according to Wind, there are plans to expand to Belgium, Germany and the UK. Among other things, an off-ramp solution will be added later to the wallet to allow the process of selling XRP for fiat currencies.

very specific options

Interestingly, to access the innovation, Xumm users have to sign up for two subscriptions: first for the Pro version of the wallet, and then separately for €5 per year to add the ramp function. On the other hand, there are no further commissions or fees for deposits or withdrawals.

In addition, you must have a Dutch bank account, a residential address in the kingdom and a Dutch passport in order to complete the necessary verifications. On this side, it seems that using Xumm in terms of purchases for fiat is still limited for many.

One can recall the experience of another XRPL project, OnXRP, which previously introduced an on-ramp solution with Banxa, while also having some restrictions for users from certain countries, but at the moment it seems easy.