Wietse Wind, the creator of the XRP Ledger, has outlined a grand vision for the XRP fiat gateway. The XRP tipbot author was responding to a user’s query on the availability of the XRP off-ramp feature.
The debut of on-ramp services for users from the Netherlands in October 2022, enabling them to simply convert their Euro for XRP without the assistance of a third party, was highlighted by Xumm, a significant XRPL wallet, as an exciting milestone.
https://x.com/WietseWind/status/1705594796109078829?s=20
By depositing Euros from their international bank account number (IBAN) to XRPL Labs, users may buy XRP and get it in only a few minutes. The off-ramp option was later included, but it was not turned on.
The on-ramp services offered by Xumm sparked enthusiasm in the community at debut and have continued to do so. Users are now anxiously awaiting the release of the off-ramp function.
Wind reacted by saying that a fix is already in place and would be used as soon as Xumm 2.6 and its associated improvements are finished. We’re planning to use on-ledger DEX EUR liquidity rather than an external liquidity source, where things were waiting for too long, he continues.
Last month, XRPL Labs participated in the joint release of the whitepaper for Xahau, the suggested Hooks sidechain.
The chief developer and founder of Xumm, Wietse Wind, shared a lofty goal for the on-ramp/off-ramp services, saying that “Xumm onramp/offramp will basically turn into a compliant version of what XRParrot was many years ago.”
With the impending registration with the Dutch Central Bank and MiCA, Wind anticipates that this will be possible.
In 2020, restrictions prompted the closure of XRParrot, a platform created five years prior to let users to convert fiat into XRP at affordable costs without the use of an exchange.
Through the invention, users were able to buy and sell XRP for incredibly cheap transaction costs by connecting a Eurobank account to their exchange account.
In a similar development, GateHub and Xumm collaborated to introduce an on/off-ramp solution in August that enables users to easily transfer money between the XRP Ledger and other supported networks, including SEPA, SWIFT, Bitcoin, and Ethereum, directly to and from their Xumm app.
