Xago is the latest payment platform firm that is integrating RippleNet into its gateway platform. The South African firm is aiming to accelerate financial inclusion in the most advanced economy in Africa through innovative strategies.
Hence, users of the Xago platform will be able to send, store, and receive payments in XRP and this could help to spur the adoption of Ripple in Africa. Further, the RippleNet provision will also support the transfer of funds outside a banking ecosystem. This factor will be fundamental for improving financial inclusivity in South Africa at a rate never witnessed before.
Xago To Proffer Free Distributed Services
According to an official statement, Xago will be using XRP Ledger as a distributed exchange. This will enable users to exchange XRP for ZAR for the facilitation of digital assets and fiat transfer within South Africa and internationally.
The clients of Xago will be able to benefit from free services as they transfer their digital Tokens on a peer to peer level. This is by far, very convenient given that a sizeable proportion of South Africans is unemployed and therefore unable to benefit from costly bank transfers as the conventional services are in a way an unnecessary expense.
XRP/ZAR Pair Will Allow South Africans To Buy Cryptos
The money operator will be offering XRP/ZAR pairs that will enable South African traders to acquire XRP. As a result, it will be easier for the XRP holders to acquire other Cryptocurrencies in Crypto exchange platforms such as Binance.
Further, Xago gateway infrastructure is ideal for enterprise use such as merchant point-of-sale payment. However, Xago is inviting wallet service providers and remittance firms to opt for its services.
Xago Offers Unique Services
Since Xago is leveraging RippleNet, customers will be able to transfer their ZAR or XRP in an efficient and frictionless way at low transaction fees. The benefits will be identical for both retail and remittance users as the platform is aiming to benefit all users.
The payment gateway is multi-device-based as it is available on mobile phone, desktop, and other devices. This factor will make it easier for users to get secure Crypto services at their own convenience.
Xago Is Integrating RippleNet Because Of Its Features
Xago prefers RippleNet as its enterprise Blockchain solution guarantees speed, low fees, and efficacy. Therefore, Ripple is set to upgrade the Xago gateway platform to a hybrid payment platform that has the potential to disrupt the financial industry. Xago will, therefore, become a major issuer of ZAR in the Ripple ledger (IOUs).
There Is Need For Crypto-Based Payment Gateways In Africa
The bulk of the 1.7 billion unbanked adults is in Africa. Even though mobile money services have taken over the continent by a storm and greatly increased access to financial services, there still remain a niche that Crypto-based payment gateways such as Xago can fill.
The CEO of Ripple, Brad Garlinghouse has been committed to establishing connections between RippleNet and top financial organizations globally. Xago is therefore set to enable Ripple to gain a foothold in Sub-Saharan Africa.