Ripple’s XRP spikes by 19% amid Bidali’s adoption of the crypto for gift cards

Bidali is a Canadian company which is trying to use cryptocurrencies to reshape how e-commerce works. Its pitch is “Next generation payments anywhere. Any time.” The company’s drive comes from the sentiment that every person in the world should have access to the world’s capital markets without the typical exorbitant fees, censorship or repression. It believes that cryptocurrencies are the way to achieve that goal, so it’s pursuing it actively.

It currently offers two primary services. Firstly, it’s a payments processing system. It allows its customers to accept cryptocurrencies as a means of payment. The other service is selling gift cards with digital assets. The brands included in their gift card shop include Google Play, Amazon, Apple, Uber, eBay, and many others. The full list is of more than 150.

Bidali announced a couple of days ago that it’s now adopting Ripple’s XRP as a working cryptocurrency. This means that any XRP holder can now go to their website, choose any gift card available and pay for it with XRP tokens.

After receiving many requests, today we've added support for #XRP to our payments service and giftcards store.https://t.co/663RcyUEP4#XRPCommunity #xrparmy $xrp
cc: @ripple @xrp_news @XRPtheone

— Bidali (@bidalihq) May 10, 2019

Additionally, the company’s payments processing gateway will also support XRP on so that any online merchant using Bidali can do business in XRP.

Bidali’s new strategic partnership with Ripple is an integral part of the Californian’s company new drive to facilitate XRP’s mainstream adoption through new use cases. And now after not too many days of the partnership, the cryptocurrency has surged by more than 19% in the last 24 hours.

Ripple’s new ways

For years, Ripple focused on banks and remittance services as customers and XRP users. While that choice has indeed paid off because it’s managed to bring more than 200 banks from every corner in the world to the Ripple Net, the company has also realized that mass adoption by retail users is also essential.

While that could never have the trading volumes we could see if Ripple manages actually to disrupt the international transfers market, it brings credibility and visibility. That, in turn, also facilitates adoption by financial institutions which are distrustful of everything they know, let alone of the things they don’t.

It’s also a good move for Bidali. XRP is the world’s third-largest cryptocurrency by market capitalization (and it’s even held the second spot now and then). It’s one of the big boys. Every business or investor that goes into the crypto market ignoring XRP’s importance does it at its own peril.

While Ripple has ignored the general public at large as XRP investors or holders, the fact remains that the project’s strong fundamentals and the coin’s outstanding performance have created a broad and bullish community of retail investors who vehemently believe that XRP is the best thing that’s ever happened since sliced bread. They’re around, they’re very vocal, they buy the token at every reasonable chance they have, and they’re delighted to use it in their everyday lives as far as possible. And Bidal has now expanded those possibilities.

So the news is excellent for those involved: Ripple, Bidali, users, and even the market. The increased demand and trading volume the new partnership will prompt will surely help keep XRP’s price high. At the press time, XRP stands at $0.3856 after going up by 19.6% in the last 24 hours and boasts a total market cap of $16,250,508,291.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.