Wietse Wind says there is no XUMM-issued token.
Leading XRPL Labs developer Wietse Wind on Friday, in response to a query on Twitter about a XUMM token, has clarified that the XUMM wallet has no token, and the team has no plans to create one.
“XUMM has NOT made its own token, nor are there any plans to create one. There are currently two tokens issued on the XRPL with our name, XUMM and xumm, neither of which we issued,” Wind tweeted, clarifying the XRPL Labs’ stance.
XUMM has NOT made its own token, nor are there any plans to create one. There are currently two tokens issued on the XRPL with our name, XUMM and xumm, neither of which we issued.
— WietseWind – ? XUMM @ XRPL Labs (@WietseWind) July 22, 2022
Notably, it is the second time the developer has had to refute falsehoods about the XRP Ledger in as many days. Wind on Thursday, as reported by The Crypto Basic, refuted rumors that XRPL Labs was working on a credit card payment system for its XUMM wallet.
In the thread on Thursday, Wind noted that XRPL Labs is taking the more difficult route to avoid reinventing the old financial system by pushing payments using the XRP Ledger. According to Wind, the team is currently working on an on-ramp & off-ramp that would allow instant swaps from fiat to XRP on the XRP Ledger.
Wind concedes that these processes may take a considerable amount of time. However, he notes that he expects the bridge to go live later this year, first in the Netherlands.
Of course (like always) good things take time & doing it right always takes more time than you expect. But we're getting there. This year we'll go live with onramp/offramp in NL for Xumm Pro Beta users, and expand to other EU countries shortly after. And next? Asia, probably.
— WietseWind – ? XUMM @ XRPL Labs (@WietseWind) July 21, 2022
It is worth noting that the XRP Ledger has not been void of developments. For example, on July 9, The Crypto Basic reported that XRPL Labs had rolled out Hooks Builder, allowing for the deployment of Layer 1 smart contracts on the XRP Ledger. Notably, the feat took two years of steady work by the team.
It is worth noting that in June, Ripple chief Brad Garlinghouse attributed the resilience of the XRP Ledger to its long-term developmental outlook. According to Garlinghouse, Ripple remains focused on solving problems and creating utility.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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