Will Amazon Dive Into Cryptocurrency By Adding XRP Exchange Compatibility in 2018
There has been many rumors about the direction that Ripple (XRP) has been going in this year, and the most recent of those rumors has come from an anonymous source with a single claim. That claim suggests that Amazon will be adding Ripple as a valid payment method for their products. This would be far from the first time that a major online retailer added a cryptocurrency to their accepted payments, since Overstock has actually been participating for years. However, as this is just hearsay at the moment, many investors are wondering – how real could this rumor be?
Ripple Wants An Amazon Partnership
Ripple has already been adapted into the technology at many different companies and even financial institutions. In fact, they already have solid relationships with credit card companies as well, like American Express and MasterCard, though it is clear they are ready to take on a bigger conglomerate. They are prepared to be accepted by a larger audience, a notion that is the most likely cause of the unofficial suggestion. They’ve already taken on a company of similar size – Apple Inc. a tech giant globally.
It’s obvious that the use of XRP with an Amazon partnership will be immensely beneficial for the growth of Ripple, especially considering the high traffic that Amazon handles daily. However, Ripple has remained absent from the mouths of Amazon’s representatives and the company itself, which is why many people are brushing the rumors off.
Still, in a recent appearance on the Ellen DeGeneres Show on NBC, Ashton Kutcher brought Ripple to the forefront of the industry. With a transfer that only took a couple of seconds, he was able to donate a $4 million gift to Ellen’s new foundation, which took mere seconds.
However, the question that needs to be discussed is – what does Amazon need?
Does Amazon Need Ripple’s Services?
All of the benefits to Ripple’s inclusion with Amazon are clear, because it would skyrocket the brand into, what some people call, the future of the financial world. However, most of the small and medium companies that are agreeing to the use of cryptocurrency have already decided their opinions of Bitcoin before, though it proved to be too slow.
Ripple, on the other hand, has no problems with speed. Presently, it is considered the third-best digital asset, even though it can process a transaction within a second and without ridiculous fees. Plus, it is stable with a slowly rising price. It can’t be immune from the drops in the market at all, but it has greater consistency than most other platforms.
Experts believe that the selling point that will urge Amazon to integrate Ripple is the smoothness of every transaction, since the transactions on Amazon are performed with little delay. It’s easy to see why Amazon would benefit, and why Ripple would benefit. However, time will tell if Amazon decides to agree.