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onXRP, a modular ecosystem created on XRP Ledger, reported reaching an important milestone. The project said 500 U.S. citizens were able to purchase XRP on their non-custodial wallets directly through fiat thanks to a joint service onXRP and Banxa.
The total amount of XRP purchased through this online service is half a million US dollars.
«We transferred half a million US dollars in purchased XRP through our online solution with BanxaOfficial. About 500 U.S. citizens were able to buy XRP directly through us on their non-custodial wallet. There is no need to create an account on CEX where XRP is delisted. Welcome to the web3-OXP Army»
Now in the US, XRP is being persecuted due to the ongoing lawsuit over a lawsuit from the Securities and Exchange Commission, which defined cryptocurrency as a security. This puts pressure on centralized crypto exchanges, which have excluded XRP from the listing or suspended trading.
onXRP rightly argues that with solutions like their platform, there is no need for CEX.
There’s really no point in buying XRP through Coinbase, which will take the cryptocurrency off the list at the first regulatory toss, when you can buy it directly using your non-custodial fiat wallet.
Web3 of the future
As the new digital economy develops and more people and companies are involved in it, the need for centralized crypto providers will become increasingly acute.
Will it be possible to be fully decentralized in the beautiful Web3 future? At this point, it seems that way. However, even if this is not the case, solutions such as those presented by onXRP seem to be able to minimize user contact with centralized platforms that, in addition to providing services that meet all the whims of regulatory authorities, must take care of the price of their shares on the exchange of traditional financial markets.
#XRP #doesnt #centralized #crypto #exchanges