Ripple Tool XRParrot Converts a Record $1.1 Million to XRP in Less than a Year

Wietse Wind's XRParrot service, who also is the creator of XRP Tip Bot and XRPL Labs, has successfully moved $1.11 million EUR/USD and converted them to XRP on-ledger in under a year since its initial release.

XRParrot has reached a milestone of moving €1 million (approx. US$ 1.11 million) and converting them to XRP on-ledger, shared Ramon Ramentol on Coil as confirmed by its creator Wietse Wind.

Wind is a developer who also created the XRP Tip Bot and is behind the Xpring supported XRPL Labs.

With XRParrot, the idea was to develop a service that makes it easier for people in Europe, with IBAN bank accounts, to acquire low amounts of XRP.

The Netherlands-registered XRParrot uses the on-ledger decentralized exchange via Gatehub gateway for EUR to XRP conversion. The fee charged is 0.5% with a minimum of €1. Any remaining amount after applying the fees is exchanged and sent to the user’s XRP destination account.

It also has a rolling limit of €2000 in 30 days. And if you exceed the monthly limit, the payment minus the transaction fee is returned within one workday day.

XRParrot is a KYC/AML compliant service that requires the verification of your phone number and your IBAN account. And if the system has any doubts about the orders or the legitimacy of the funds, it rejects the order.

The service only supports euro currencies and no other currencies are on the roadmap. At the time of the beta rollout in November last year, Wind explained that XRParrot was all about coding and helping the community, developers and in adoption. Expansion, however, would mean more regulation and less coding.

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AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

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