Exodus, a blockchain wallet provider, has launched XO Pay, a service allowing US mobile customers to purchase cryptocurrency directly via their app, excluding New York and Vermont.
This move simplifies access to major cryptocurrencies, potentially increasing self-custody wallet usage in the US by eliminating third-party exchange reliance.
Exodus Integrates Coinme for Seamless Crypto Purchases
Exodus’ introduction of XO Pay represents an advancement in in-wallet on-ramp services. Founded in 2015, the company aims to streamline the purchase of cryptocurrency through its mobile application. CEO JP Richardson announced that XO Pay integrates purchasing directly in Exodus’ mobile wallets. This innovation is powered by Coinme’s platform, facilitating easier access to cryptocurrencies for users.
JP Richardson, Co-Founder and CEO, Exodus, said: “XO Pay represents our commitment to making cryptocurrency more accessible to everyday customers. By integrating the purchasing process directly into our mobile wallet, we’re removing barriers and simplifying the journey from fiat to crypto, and back.”
XO Pay Enhances Liquidity with Multiple Payment Options
The launch of XO Pay is projected to enhance transaction volumes for self-custody wallets. Users can now acquire a range of cryptocurrencies using Visa/Mastercard, Apple Pay, or Google Pay, bolstering market liquidity. XO Pay supports Bitcoin, Ethereum, and other major assets. It is expected to attract a broader user base by offering a more accessible entry into the crypto market, despite regulatory limitations in NY and VT.
Direct On-Ramps Seen Elevating Wallet Adoption
Historically, similar integrations have escalated wallet adoption. Notably, Exodus’ service is distinctive as a self-custody wallet’s direct on-ramp, potentially mitigating common onboarding barriers for novice users. Experts suggest this could elevate adoption by simplifying the purchasing process. By examining market trends, this development aligns with increased demand for user-friendly crypto platforms enhancing access and convenience.
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