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Ripple: Online marketplace Uquid sees greater adoption using XRP

  • The Online marketplace Uquid Digital has highlighted the benefits of Ripple’s XRP token and explained that the adoption has allowed more customers to use the platform.
  • According to Uquid, the XRP Ledger enables stable, around-the-clock transactions in 3.77 seconds.

In a blog post, the online marketplace Uquid Digital discussed that the speed and scalability of Ripple’s XRP has made shopping much more convenient for its customers. In the online shop, which only went live at the end of May, users can purchase over 30,000 digital products at discounts of up to 70%, the company writes. At the launch, Uquid described the online marketplace as “the world’s largest digital shop for crypto users” worldwide.

The online store offers games for Steam, Xbox, PlayStore, Origin, PSN, Rockstar, Windows Store, battle.net, as well as gift cards and coupons. In addition, bills such as the electricity bill or Internet bill can be paid via the shop. Daily products such as food, clothing, shoes, travel, music and much more will follow shortly.

Ripple’s XRP ensures increased adoption of the marketplace

Regarding XRP, Uquid states that customers who have not previously conducted international transactions are now using the service. Customers who have previously made international bank transfers are now increasingly using this service. As Uquid further describes, the company chose to integrate XRP because it is “an approval-free, decentralized blockchain technology that allows XRP to be sent directly without the need for a central intermediary.

Too often, global payments are costly, unreliable, and slow. The underlying systems are fragmented and complex. RippleNet offers the most advanced blockchain technology for global payments — making it easy for financial institutions to reach a trusted, growing network of 300+ providers across 40+ countries and six continents.

This, according to Uquid, makes it a practical tool for bridging two different currencies quickly and efficiently. As a further advantage, Uquid describes the transaction speed. According to the data collected by Uquid, XRP transactions are processed in an average of 3.77 seconds, with a zero network transaction fee.

Uquid also highlights further advantages of XRP in payment transactions. For example, the XRP ledger can continuously process 1,500 transactions per second, around the clock, and can be scaled to achieve the same throughput as Visa. It is also distributed and operated by a decentralized network of over 150 validators worldwide. It is also environmentally friendly as it does not require the Proof of Work.

Uquid also emphasizes the stability of the XRP Ledger, stating that “XRP’s seven-year track record of stable technology and governance makes it ready for use by institutions and corporations.”

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