Wietse Wind, the founder of XRPL Labs, has refuted rumors that the company plans to develop a card payment system for Xumm Wallet. XRPL Labs Not Developing Credit Card For Xumm Wallet In a tweet post shared today, Wietse Wind clarified that the rumors of XRPL Labs developing a debit/credit card payment system are false and that there won’t be any such plans in the future. I just received a message informing me that there's a rumour spreading that @XRPLLabs is working on a @XummWallet debit/credit card. This is *not* the case. The rumour is false. There will not be a CC and those plans will not change. (1/..) — WietseWind – 🛠 XUMM @ XRPL Labs (@WietseWind) July 21, 2022 According to Wind, credit card systems are often associated with inefficiencies, including high transaction fees; there is no point in re-introducing the same downsides and inefficiencies. Also, introducing a card payment system would spoil the plan for a complete shift to XRPL payments. He does acknowledge that the idea of XRPL payments may or may not ever work out, but they must at least try. He said he won’t go through the easy route of “hacking the old system on top of a new; more efficient one.” While there’s a need for a bridge to link the two sides, he argues that re-introducing cards as they traditionally are would not be a smart solution. Instead, the best solution would be to develop an offramp/onramp system to facilitate instant swaps between fiat an...
