XRP Cross-chain Swaps with other Assets to soon be a Reality on Atomic Wallet
Ripple News

Ripple (XRP) Cross-chain Swaps with other Assets to soon be a Reality on Atomic Wallet

The multi-asset custody-free wallet, Atomic Wallet has revealed in a tweet this week that it has planned to support cross-chain swaps between the assets listed there and Ripple (XRP). Atomic Wallet has a decentralized order book and an Atomic Swap exchange.

The wallet is lightweight and comes with support for more than 300 different ERC-20 tokens. Apart from the ERC-20 tokens, it has a number of notable cryptocurrencies such as Stellar (XLM), and Augur (REP).

Atomic Wallet is also building an internal system for the cross-chain atomic swaps which allows users to bypass the centralized exchanges. It currently supports swaps between, Litecoin (LTC), QTUM (QTUM), and Bitcoin (BTC).

The multi-asset custody-free wallet has built-in Changelly, and ShapeShift exchanges for the cryptocurrencies which aren’t supported with atomic swaps.

A few weeks ago, Atomic Wallet had added support for the cryptocurrency Ethereum Classic (ETC). The company told that the decision had been made to add ETC mainly for three reasons—it is one of the top 15 cryptocurrency projects in terms of market cap, it has a “great community of supporters,” and it is already being traded at one of the largest exchanges in the market.

Also Read: Expansion in China, US District Court Denies Plea: Can Ripple(XRP) Survive the Crash?

Last week, Exodus had announced support for Ripple (XRP) on its Medium blog. The all-in-one wallet to secure, manage and exchange blockchain assets said:

“You can now send, receive, and exchange to and from Ripple in Exodus. This is not a drill; Ripple is now supported in Exodus. We’ve been looking forward to writing these words for quite some time now and are overjoyed to finally share the good news.”

It also informed users of the cryptocurrency exchange platform about how they decided to add Ripple (XRP) to the platform by saying:

“During the months we’ve spent perfecting the Ripple wallet, many of you wrote in expressing your enthusiasm for XRP and asking us for a timeline for when we would add it to Exodus. Your emails, Slack messages, and tweets pushed us to deliver this functionality to you and we thank you for keeping us motivated. Nothing keeps us on our game more than hearing your thoughts about what you want to see in Exodus, and we encourage you to keep speaking your mind to us on our social media channels and in our inbox.”

Ripple (XRP) has been expanding a lot lately. They have turned their attention towards countries such as China now in order to gain larger grounds. In Jeremy Light’s own words in a telephonic interview with CNBC:

“China is definitely of interest, it is definitely a target… China is definitely a country and region of interest.”

Light is Ripple’s Vice President of strategic accounts in Europe and is a key reason to why the company is growing so much.

People criticize XRP by saying that it is just an alternative to Bitcoin embraced by a lot of banks but they tend to forget that the nodes making up the XRP network can’t be run by just one person. It is only those who are selected for running validating nodes who can do that. However, it is worth noticing that these selected few are, more often than not, retailers and banks themselves.

Fans of the cryptocurrency put forth arguments such as the XRP token is vital for the cross-border payments solution of the company. However, that too is not a valid argument since banks use xCurrent, a Ripple product for carrying out these payments without having to use any XRP tokens at all. It is commendable, though, how much the fans support the cryptocurrency.

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.