Xaman Wallet: An Efficient Payment System Based on XRP Ledger

user avatar

by Giorgi Kostiuk

2 years ago

Xaman Wallet, formerly known as Xumn, has demonstrated the efficiency of the XRP Ledger as a low-cost payment system.

Achievements of Xaman Wallet

In 2024, Xaman Wallet processed over $6 billion in transactions, including cross-border payments, while incurring only $510 in fees. This translates to less than 10 cents for every $1 million transferred, starkly lower than the $20–$50 fees for $2,000 bank transfers that can take days to settle.

xApps Enhancements

Xaman Wallet's success is largely attributed to its user-friendly updates, particularly the xApps feature. These embedded web applications allow users to access services such as on/off-ramp solutions, decentralized exchanges, and payment tools directly through the wallet. In 2024, Xaman users interacted with xApps nearly 8 million times, indicating the app's popularity and utility.

Future of the XRP Ecosystem

XRPL Labs COO Robert Kiuru credited these enhancements for the wallet’s growth and hinted at more features and xApps planned for 2025. The growing regulatory clarity regarding XRP is also fostering a favorable environment for applications like Xaman to thrive.

Xaman Wallet's achievements underscore the strengths of the XRP Ledger as a low-cost, fast, and scalable payment solution, proving its value amid rising interest in blockchain-based financial systems.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Futures Traders Abandon Crypto for Stablecoin Margin

chest

Bitcoin futures traders have largely abandoned using Bitcoin as collateral for their positions, opting for stablecoin-backed positions to avoid risks associated with price drops.

user avatarFilippo Romano

Gold Prices Surge to Three-Month High

chest

Gold prices surged to a three-month high, reaching $4,696.18 an ounce, driven by a weaker dollar and falling Treasury yields.

user avatarEmily Carter

BNB Smart Chain Set to Activate Pasteur Hard Fork

chest

BNB Smart Chain is set to activate its Pasteur hard fork on August 25, introducing significant network changes.

user avatarKaterina Papadopoulou

TAC Halts Block Production Due to Supply Exploit

chest

TAC, a Cosmos-based EVM sidechain connected to the TON ecosystem, has halted block production after a supply-related exploit.

user avatarTomas Novak

The Need for Reliable Data in Real Estate Tokenization

chest

The need for reliable pricing data in real estate tokenization is crucial due to the unique challenges it faces compared to liquid crypto assets.

user avatarMaya Lundqvist

TON Foundation to Permanently Shut Down Legacy Bridge on September 1

chest

The TON Foundation has confirmed the permanent shutdown of its legacy bridge on September 1, requiring users to transition their wrapped TON and related assets back to native forms.

user avatarLeo van der Veen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.