XRPL Labs Introduces SimpleSwap into Xumm Wallet for Speedy XRP Swaps

The onboarding of SimpleSwap into the Xumm wallet gives users access to over 1000 cryptocurrencies and digital assets.

This development improves the Xumm wallet's functionality and allows users to convert virtual assets from other crypto networks to the XRP blockchain.

Before now, the XRPL Labs have integrated several developments on Xumm, including collaborating with Gaurdarian, Poko, Zerpmon, and other projects.

Inbound Swaps to XRP Coins Only

The developers of the Xumm wallet are constantly seeking various ways to innovate the XRP Ledger platform to make it more intuitive and accessible for users.Thus, the team introduced the decentralized cryptocurrency exchange SimpleSwap as the latest xApp into its ecosystem.

The SimpleSwap ecosystem is a decentralized exchange that provides users access to more than 1,000 virtual assets, including cryptocurrencies and stablecoins. Users can buy, sell, and swap crypto in the user-friendly DEX.

Furthermore, XRPL Labs' onboarding of SimpleSwap into the Xumm wallet focuses on advancing the Xumm platform and providing a smooth experience for swapping many different digital assets on diverse networks into XRP.

The Xumm team announced on their official website that the new integration will provide a streamlined and transparent approach to simplifying the conversion of crypto assets into XRP, thus, making the transition into the XRPL network easier than ever.

It's also worth noting that this integration was partly inspired by a request from the developer of the renowned Xumm-supported NFT marketplace, xrp.cafe.

Therefore, this collaboration between Xumm and SimpleSwap is mainly to bridge the gap in integrating new users into the XRP network, as stated in the announcement.

In addition, the Xumm team observed that this development would create a simpler process for those used to the traditional banking system to join the crypto payment system.

More specifically, SimpleSwap's initial stage of partnership with Xumm only supports inbound exchanges.This implies that, on the platform, users can only convert other digital currencies to XRP tokens, not the other way around.

According to their announcement, the integration focuses on reducing the risk of crypto hacks while ensuring maximum user safety.

Increasing Developments on Xumm Wallet

The SimpleSwap integration on XRPL Labs' Xumm wallet isn't the only partnership the team has indulged in the past months.

In May 2023, Xumm collaborated with Guardarian to enable users to trade more than 40 fiat currencies. Moreover, while the gateway enables users to buy XRP with several fiat currencies, it only enables them to sell XRP tokens for GBP and EUR.

Soon after, XRPL Labs collaborated with the payment gateway service provider Poko to integrate over 100 payment gateways on Xumm for XRP trades.

As announced, Zerpmon, an XRPL-based game that enables players to earn XRP straight to their Xumm crypto wallet, was deployed in June.

The post XRPL Labs Introduces SimpleSwap into Xumm Wallet for Speedy XRP Swaps appeared first on The Tech Report.