Omni Rentals Adds Ripple’s XRP as Payment Method

Omni Rentals Adds Ripple’s XRP as Payment Method

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October 22, 2018 by Jane
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Omni, a San Fransisco-based online item rental and storage startup has announced that its users would now be paid in Ripple (XRP). The announcement came after the startup raised a whopping $25 million in Ripple (XRP). Now the platform wants to give away some of its XRP (XRP) holdings as it users rent their stuff out to
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Omni, a San Fransisco-based online item rental and storage startup has announced that its users would now be paid in Ripple (XRP). The announcement came after the startup raised a whopping $25 million in Ripple (XRP).

Now the platform wants to give away some of its XRP (XRP) holdings as it users rent their stuff out to other users on the platform. The firm’s earning balance is in U.S dollar. However, they can convert it to XRP (XRP) whenever they want with no fee.

Speaking to TechCrunch, Omni’s founder and CEO, Tom McLeod is confident of their strategy, citing, “I think any company scaling today has to have a crypto strategy. This is the start of ours.”

However, users are free to choose USD if they prefer to be paid in fiat than cryptocurrency. Omni aims to change the perspective people have about ownership.

Their balance of earnings is stored in US dollars, but they convert it to XRP during withdrawals at any time without incurring any fees. Omni is now successfully integrated to Ripple’s XRP Cash Out platform that will enable Omni users to have the option of cashing out their rental earnings to any XRP wallet of their choice.

The addition of XRP brings another interesting use case to the table for this particular asset. Although it might not necessarily have a big impact on the value of XRP altogether, there is a good chance this concept will gain some traction in areas where Omni Rentals is popular.

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