Ripple-Backed Payment Platform Launches Beta XUMM App

Ripple-Backed Payment Platform Launches Beta App XUMM

XRPL Labs, a startup behind the development of apps for the XRP ledger, has released the beta version of XUMM; an XRP-powered wallet and payment platform.

Users can now download the app from App Store and Google Play to trade various cryptocurrencies on the XRPL’s native decentralized exchange.

“We worked really hard to deliver high quality software, but there may still be bugs. Please don’t use the XUMM Beta version with your high value accounts, and don’t transfer high amounts of XRP/IOU’s,” XUMM said on its website.

Wietse Wind, CEO of XRPL Labs, said the wallet allows users to save and spend euros, dollars, and cryptocurrencies such as XRP without seeking the help of any financial institution.

The wallet’s developer team asks users to test XUUM — with a word of caution.

“While we would greatly appreciate it if you participate in the Beta and provide us with input, for sure there will be things for us to fix. We ask you to proceed with caution. If you plan on importing, depositing and/or sending XRP or IOU value with the XUMM Beta app, make sure to do it with an account containing only limited amounts of funds.”

The app is noncustodial, which means only users can access their keys on their devices. The CEO indicated that while the wallet is safe, it’s just as safe as the XUMM client that uses it.

App has 3,000 users after 12 hours from launch

After almost 12 hours from its launch, the app had almost 3,000 users.

Earlier, the CEO said his objective is to make the XUMM as simple and intuitive as possible so anyone can use it.

“It’s not for geeks. We know that crypto wallets are for geeks and then somewhere near the bull run at end of 2017, suddenly 10% of the population here had a crypto wallet or multiple crypto wallets on their apps. It was still a few percent of the population, and most of them were geeks.

We’re building something that my mother could use and maybe even would want to use… We’re going to help users get started with a really secure, user-friendly set-up guide in-app. And there’s no way you can, pardon my French, fuck this up. There’s no way. We’re gonna make it really easy.”

Cryptolydian earlier reported TRON CEO Justin Sun as highlighting the recent milestones achieved by his company.

Tronscan data showed that the number of contracts launched on Tron platform exceeded 30,000, of which 638 were already verified.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.