Making cryptocurrencies and digital assets more accessible for the masses is always a positive development. Consumers prefer convenient payment methods, rather than relying on slow bank transfers. Changelly, a rival to ShapeShift, is making that process a lot easier. That is, at least where XRP purchases are concerned.
A Smart Move by Changelly
Even though services such as Changelly are primarily designed to exchange between different cryptocurrencies, tokens, and digital assets, fiat currency support also plays an increasing role of importance. To cater to this market segment even further, Changelly is making it easier for its clients to purchase XRP. Ripple’s native asset is in high demand right now, and making it more accessible will be beneficial to service providers.
What makes this decision by the service provider so interesting is how they enable direct credit and debit card support. This is a very interesting decision, though the company has indicated they aim to support Euro and USD purchasing options for XRP some time ago. It now seems that implementation is coming together in the form of integrating payment card support.
This new payment option is made possible courtesy of a partnership with SimplexCC. For those unfamiliar with that company, SimplexCC is a European-based institution which is fully licensed under the current financial regulation. This allows the company to not only process payments, but also extend this functionality to any service provider tackling the European market. That also includes cryptocurrency service providers.
Changelly CEO Ilya Bere states:
“Changelly team couldn’t be more excited to have Simplex onboard as our credit card processor partner. Thanks to Simplex, we monthly provide fiat-to-crypto payments for over 700K our customers around the world. Due to Simplex’s great service, our payment process is risk-free, and our users are more than happy!”
Although the concept of buying XRP with payment cards is not entirely new, more and more service providers see merit in such solutions. It is unclear if Changelly will expand this functionality to any of its other supported currencies as well. Accessibility is one of the major roadblocks preventing mass cryptocurrency and digital asset adoption right now, and that will not necessarily change anytime soon.
This is yet another move confirming XRP is here to stay in the cryptocurrency industry. With more and more exchanges offering support for this asset in different ways, it seems likely the overall market liquidity will improve significantly in the months to come. Whether or not that will result in future XRP price gains, is a different matter altogether.