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The implication of integration by a leading developer for the widely used Xumm wallet of payment giant Mastercard has excited Ripple‘s XRP investors and enthusiasts. It seems that the popular altcoin is preparing for a major update that could lead to Mastercard integration.
XRP and Mastercard Integration
As an important development for the XRP community, Wietse Wind, the prominent figure behind XRPL Labs and the main developer of the widely used XRP wallet Xumm, hinted at a major update in the works. The focus of Wind’s announcement is the release of the Tangem NFC hardware wallet integrated with Xumm. This hardware wallet enables ordering without full verification, including account balance access and optional prepaid cards loaded with an additional 50 dollars’ worth of XRP.
Moreover, this isn’t the only development causing excitement in the XRP world. Responding to questions from followers, Wind revealed that the team is actively working on a groundbreaking feature such as integration with prepaid Mastercard-branded cards. This anticipated update, expected to be released soon, will offer users the flexibility of debit card usage with custom ledger limits through XRPL Hooks, as well as the convenience of self-custody.
In response to a follower’s question about possible transaction fees for the prepaid debit card feature, Wind shed light on the complexity of integrating traditional financial systems with the crypto world. Wind acknowledged that due to business models, credit/debit card fees are inevitable.
Seek Expert Advice on Taxation Matters
Wind also addressed users’ concerns regarding tax implications, pointing out the differences in tax policy jurisdictions. Avoiding specific advice, Wind recommended that users seek support from experts to navigate the complexities surrounding the taxation of cryptocurrencies.
In light of the intriguing hints provided by the developer, the innovative update for the XRP wallet seems poised to seamlessly bring together traditional finance and the crypto world.