Wietse Wind, the founder of XRPL Labs, has refuted rumors that the company plans to develop a card payment system for Xumm Wallet.
<h2>XRPL Labs Not Developing Credit Card For Xumm Wallet</h2>
In a tweet post shared today, <a href="https://twitter.com/WietseWind" target="_blank" rel="nofollow noopener">Wietse Wind</a> clarified that the rumors of XRPL Labs developing a debit/credit card payment system are false and that there won't be any such plans in the future.

https://twitter.com/WietseWind/status/1550005721412009984

According to Wind, credit card systems are often associated with inefficiencies, including high transaction fees; there is no point in re-introducing the same downsides and inefficiencies. Also, introducing a card payment system would spoil the plan for a complete shift to XRPL payments.

He does acknowledge that the idea of XRPL payments may or may not ever work out, but they must at least try. He said he won't go through the easy route of "hacking the old system on top of a new; more efficient one."

While there's a need for a bridge to link the two sides, he argues that re-introducing cards as they traditionally are would not be a smart solution. Instead, the best solution would be to develop an offramp/onramp system to facilitate instant swaps between fiat and <a href="https://www.cryptoknowmics.com/news/u-s-sec-asks-court-to-revoke-amici-status-granted-to-xrp-holders/" target="_blank" rel="noopener">XRP</a>. This would allow users to send funds between their bank accounts and XRPL accounts without incurring heavy fees.

Lastly, he divulged that his company was working on introducing such functionality for Xumm Pro Beta users before the year's end, with a rollout planned to expand to the rest of the EU countries with potential plans for Asia.

Rumors of XRPL Developing Debit/Credit Card for Xumm Wallet Are False

Wietse Wind, the founder of XRPL Labs has refuted rumors that the company plans to develop a card payment system for Xumm Wallet.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Rumors of XRPL Developing Debit/Credit Card for Xumm Wallet Are False

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