Prospective crypto payment solution Surfy has integrated XRP into its payment options, allowing users to buy and sell real-world assets using the XRP Ledger native token.
The XRP Ledger ecosystem has taken another giant leap with the integration of Surfy, boosting the network’s utility. The Korean-based payment solution added XRP to the list of payment options that users could leverage to purchase items from its registered merchants.
Paying for Coffee With XRP
The XRP Ledger showed its payment prowess in a closed beta test in Gangnam District of Seoul during the Korea Blockchain Week (KBW) earlier in September. The Surfy team launched a test version of its payment solution in Cafe Valer, a coffee shop in the region, allowing users to make payments using XRP.
The Surfy payment debut recorded success as users were able to pay for their coffees in a fast and seamless manner. The breakthrough emphasized the ease at which payments could be made using XRP.
Although Surfy’s payment platform is still in its testing phase, it has gained traction among cafes in Korea. Like most payment solutions, Surfy provides registered merchants with a quick response (QR) code that users can scan to remit funds in XRP to the shop owner.
However, Surfy’s founder and CEO, Jongheon Sung, stated in a section at the XRP Ledger Zone during the September 4 KBW that the payment solution has distinguished itself by integrating peer-to-peer (P2P) payment options without any connection with traditional payment networks.
Scalable XRPL Ecosystem
Sung stated that the Surfy team chose to build on the XRP Ledger due to the network’s profound scalability. The network’s scalability capacity means it has a throughput of about 3,400 transactions per second (TPS) and settles transactions in 3-5 seconds.
The XRPL’s excellence in low-cost and swift payments has been the essence behind Ripple’s use of the network for cross-border settlement. The XRPL’s unique transactional acumen comes from its use of the Ripple Protocol Consensus Algorithm (RPCA), an algorithmic consensus that allows validators to confirm transactions in real-time.
Notably, the XRPL network is taking on new forms to enhance its scalability and utility. Ripple announced earlier in the month that it was introducing a new token standard to the blockchain to amplify its support for real-world assets (RWAs). The imminent launch of the RLUSD stablecoin has also been tipped to boost institutional adoption of the XRPL ecosystem.
