The XRP-based wallet and payment platform XUMM has recently launched its public beta and is also available on both the Google Play and App Store.
The mobile app allows its users to store several currencies and trade them on the XRP Ledger’s native decentralized exchange.
The CEO of XRP-backed XRPL Labs, Wietse Wind, says that XUMM is developed to provide people with a way to save as well as spend Euros, Dollars, XRP and many other currencies with no any help from the financial institution.
Peer to peer payments, retail payments, initiated by the retailer, e-commerce payments, wallet for the XRPL, multi currency. Safe and user friendly integration with 3rd party XRPL apps for eg. Multi Signing, trading, user identification, etc.
— WietseWind – 🛠 XUMM @ XRPL Labs (@WietseWind) January 29, 2020
The mobile application’s developers are encouraging first adopters to test XUUM — with a word of caution.
“While we would greatly appreciate it if you participate in the Beta and provide us with input, for sure there will be things for us to fix. We ask you to proceed with caution. If you plan on importing, depositing and/or sending XRP or IOU value with the XUMM Beta app, make sure to do it with an account containing only limited amounts of funds.”
The mobile application, XUMM, is noncustodial, which implies that only the users of the platform will store and have access to their keys on their devices. Wind notes that where the app is safe to use, it is just as secure as the XUMM customer using it.
It's very safe as we invested a lot of time, energy & knowledge building this app. However, it's on ledger, you hold your keys, and it's only as secure as you storing your keys safely & keeping your device safe.
There's no insurance and we cannot touch nor recover your funds.
— WietseWind – 🛠 XUMM @ XRPL Labs (@WietseWind) March 30, 2020
As indicated by the XRPL Labs CEO, the bet app had almost 3,000 users just after 12 hours of going live.
Wind, last summer, said that his overall goal was to make the mobile application so intuitive and seamless that his mother could use it.
“It’s not for geeks. We know that crypto wallets are for geeks and then somewhere near the bull run at end of 2017, suddenly 10% of the population here had a crypto wallet or multiple crypto wallets on their apps. It was still a few percent of the population, and most of them were geeks.”
“We’re building something that my mother could use and maybe even would want to use… We’re going to help users get started with a really secure, user-friendly set-up guide in-app. And there’s no way you can, pardon my French, fuck this up. There’s no way. We’re gonna make it really easy.”