A unique platform designed to let users convert fiat into XRP with incredibly low fees and without a crypto exchange is gearing up for launch.
The independent XRP programmer Wietse Wind has launched an invite-only beta version of XRParrot. The platform is remarkably simple: Just enter your XRP wallet address and wire the money you’d like to convert to the platform’s designated bank account. The fiat then gets converted to XRP which is deposited into the provided wallet address.
Beta users report the entire process completes in a matter of hours, for a fee of just one euro.
Just beta tested @WietseWind‘s @XRParrot.so easy. you put your wallet addresss in, wire the money to the given account and confirm it with a code that you get on the phone. After https://t.co/jdRJNOPqBl processed, a confirm.text like this follows. Fee: 1eur. So awesome! pic.twitter.com/Hepgt4k3od
— Gregor KN ⚡ (@Gregor_XRP) November 7, 2018
It’s just a SEPA/IBAN payment (which thanks to EU efforts to speed up money, takes one day). The payment goes to @WietseWind‘s xrparrot account which automatically converts to xrp, sends to purchaser’s wallet after service fee.
Wietse is “the people’s liquidity provider.”
— Steven Jonsson (@jonsson_steven) November 8, 2018
— Tom Postma 💧🌍 (@tommypostma) November 7, 2018
No word on what regulations may have to be met or licenses acquired in order for the platform to launch on a large scale,