- SpendTheBits founder Jaskaran Kambo says achieving retail adoption of XRP is difficult.
- The founder says running a multi-currency wallet on XRPL will bring about $15 CAD in customer acquisition costs.
- XRP price has edged higher in the past 24 hours as of writing.
In a recent X post, Jaskaran Kambo, founder of the XRPL-based crypto payment app SpendTheBits, highlighted the challenges in achieving the retail adoption of XRP.
Referencing a June post from a prominent XRP community member, Kambo explained that running a multi-currency wallet is expensive. “Activating a multi-currency (BTC, CAD, USDC) wallet comes with an approx. customer acquisition cost of $15 CAD, considering current $XRP price,” he tweeted.
In the referenced post, Panosmek argued that the original vision for XRP was to be an open payment system and a P2P credit network for people. He added that contrary to widespread opinion in the community, the token wasn’t built for banks.
“It’s sad that a big part of the #XRPCommunity still believes that XRP was created for banks or to help institutions. It was literally created to destroy the banks’ monopoly and disintermediate them,” …
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