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Suisse Gold becomes the latest firm to accept XRP as a payment option after announcing that it now allows buyers to purchase gold and other precious metals with the crypto.
XRP hit another payment milestone after precious metal dealer Suisse Gold announced it now accepts the XRPL native token as a payment option. This development allows buyers to purchase gold, silver, platinum, palladium, and rhodium using XRP.
The integration would also allow Suisse Gold to display the pricing of its precious metals in XRP. According to the announcement, the pricing is in real-time and changes as the value of gold and XRP changes in the market.
XRP joins an exclusive list of cryptocurrencies that Suisse Gold accepts for trade settlement. The precious metal dealer also accepts payment in Ethereum, Litecoin, and Bitcoin Cash.
Growing Demand for XRP
XRP’s introduction as a payment option for Suisse Gold further distinguishes the digital currency as a notable asset for transactional settlements. The XRPL native token is gradually becoming the go-to cryptocurrency for cross-border payments.
Suisse Gold’s XRP adoption further blurs the divide between the digital and traditional financial systems. The banking system and multinational firms are becoming increasingly inclined to use cryptocurrencies for transactional purposes.
Many notables have previously announced accepting XRP’s fast and secure payment system to settle transactions. In July, Web3 Enabler announced it had integrated XRP as a payment option.
There have also been speculations that Elon Musk’s X could integrate XRP as a means of payment amidst its court victory against the Securities and Exchange Commission (SEC), but this remains unconfirmed. Also, there are reportedly over 1,700 companies accepting XRP for trade settlement.
Bullish for XRP Price
XRP’s continued institutional adoption could enhance the bullish sentiments around the cryptocurrency. The XRPL-based token has already seen an increased bullish disposition since the conclusion of the Ripple v. SEC lawsuit earlier in the month.
Analysts have called for higher XRP prices, with a market expert speculating that the asset would hit $26 before the end of the bull cycle. At press time, XRP was trading at $0.578, up 2.24% in the past 24 hours.