Samsung Teams Up with CopPay To Accept Crypto Payments, Including XRP
XRP Accepted By Samsung Could Deactivate FUD Against The Currency
The South Korea-based multinational conglomerate Samsung has announced that it will accept payments in digital currency. This development was made possible thanks to the collaboration of the blockchain platform known as CopPay.
Users who can use and benefit from these services at an early stage will be located in the Baltic countries. The announcement was made this July 20 from Lithuania.
For now, the stores that will accept cryptocurrency thanks to this project are located in Tallinn (Estonia), Riga (Latvia), Vilnius (Lithuania) and Kaunas (Lithuania). The results expected from this adoption have not yet been made public to the companies involved. But it is clear that with a wider range of possibilities, sales will increase. One of the currencies that will be accepted is the Ripple (XRP) token.
XRP In Public Pressure
The CEO of Elpis Investments, Anatoly Castella, in an interview with Express.co.uk warned investors to stay away from XRP. Because, according to him, it is not a digital currency and should not be cataloged as a real cryptocurrency.
The XRP is one of the top ten currencies that are avoiding brands like Autonomous Partners – a hedge fund that is buying cryptocurrencies and shares in blockchain companies. This may be because many believe that the token will be treated differently when the regulations arrive.
“If the SEC categorises ripple as a security, we will experience in the short term a big dip in its market value. In the long term it will simply become a digital asset owned by institutional investors,” explained Anatoly Castella.
But, Samsung's opening to accept payments on cryptocurrencies could drastically invalidate the FUD towards XRP.
If the token really requires a different regulatory approach and turns out to be a safety net, Samsung might end up moving away from it. This is a world-leading company that has some of the best minds in technology working for it.
Most likely they included it because it meets the true definition of a cryptocurrency, mainly the fact that it is decentralized, practical as currency and widely accepted.