- Ripple’s PayID has become the most widely used payment method in the XRP wallet Payburner.
- Co-founder of Ripple, Jed McCaleb, has sold over 11 million XRP on September 13 and 14.
Ripple has celebrated a new milestone of its technology to facilitate PayID transactions. Via Twitter, Ripple Product Director Craig DeWitt announced that PayID has become the most widely used method of generating payments with the XRP wallet known as Payburner. According to Ripple’s Product Director, over 1,000 PayIDs have been issued since the product’s launch on Payburner. DeWitt also reported that the integration for e-commerces will come soon.
E-commerce integrations coming soon… @payid_org
— Craig DeWitt (@CryptoCwby) September 13, 2020
PayID is a technology developed to be a universal payment identifier with a free standard. Conceived as an open protocol, PayID allows interoperability between different payment networks. That way, PayID users see their transactions simplified by using a standardized address with a specific format when making a payment.
Moreover, PayID also replaces the account numbers, multiple platform requirements and routing numbers involved when making a payment with the traditional financial system today. According to Ripple’s CTO, PayID will make sending payments as easy as “sending an e-mail”.
With the launch, PayID has gathered 40 partners ranging from global companies to non-profit organizations. Therefore, e-commerce integration will be another important milestone for PayID’s partners.
Via Twitter, Ripple’s product director also provided users with an invitation code to access the payburner.com platform with its plug-in. With the following code: xoVFjQB2YW, users can create an account on the platform. DeWitt further clarified in a later tweet that the platform does not require KYC (Know Your Customer) and stated that PayID uses the same infrastructure as Ripple’s XRPL.
McCaleb dumps millions of XRP on the market
In another development for the XRP ecosystem, according to the XRPL monitor, a new massive transaction by Ripple co-founder Jed McCaleb has been recorded. The monitor showed that McCaleb has moved over 11 million XRP in two transactions. The transactions were recorded on September 13 and 14 and had a value of 5,709,780 XRP each.
According to XRP explorer Bithomp, Ripple’s co-founder under the name of tacostand still has 95.664 million XRP in his funds or $23.443 million. However, it is notable that since the beginning of September the co-founder of Ripple has made daily transactions exceeding XRP 3 million.
As reported by CNF, McCaleb and Ripple reached an agreement when the co-founder decided to separate from the project. Therefore, McCaleb can only sell a limited amount of XRP in a given period. This prevents the price of XRP from being affected, in theory, by McCaleb’s sales. However, during 2020, Ripple’s co-founder has increased sales of his fund in XRP by 13 times, within the permitted limits, as reported by CNF.