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By Alec LiuAugust 22, 2014
American users can now get money into the Ripple network in under a minute thanks to an exciting partnership between SnapSwap and innovative startup Knox Payments.
The daily limit for the new Instant Deposit feature is $300.
So far, the following US banks are supported: Wells Fargo, Bank of America, Capital One, Capital One 360, USAA, TD Bank, US Bank, PNC, Chase. And SnapSwap is “currently working on adding other major US banks,” according to their blog announcement.
All of which is incredibly exciting. One of the primary early challenges faced by Ripple users has been getting value on the network, but as the ecosystem continues to evolve and expand, this process will only become more seamless, and in the case of this latest SnapSwap development, a lot more instant.
And that’s also the end goal. Not only is it important to provide robust utility—such as allowing users to spend and trade assets backed by physical gold—the process needs to be fast and convenient.
What’s great to see is that partners and developers understand this intimately and are ready and willing to take the initiative. With SnapSwap’s Knox integration, the Ripple network has taken another step in the right direction.
See more:
- A Debit Card Powered by Ripple
- GBI Integration Allows Ripple Users to Trade, Send, and Spend Gold
- Introducing the New Ripple Trade Client
- SnapSwap Launches in Europe
- Ripple Labs Joins NACHA Alliance
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