Omni is a San Fransisco-based online item rental and storage startup. The firm is now allowing its users to get paid in Ripple (XRP). The announcement came after the startup raised a whopping $25 million in Ripple (XRP). The startup is aiming to leverage the cryptocurrency boom that happened in 2017 and brought these cryptocurrencies to the limelight.
Omni aims to change the perspective people have about ownership. Omni allows anyone to store their any item they want without purchasing their own storage units.
More about Omni and Collaboration with XRP
Tom McLeod, Founder and the Chief Executive Officer of Omni stated this when I asked on the integration of XRP into the startup’s web platform. “I think any company scaling today has to have a crypto strategy. This is the start of ours.”
The company will pay the users in XRP. Furthermore, the valuation of XRP has dropped significantly from January. Moreover, the company allows users to get exchange the XRP and get United States Dollar if they don’t want cryptocurrencies.
It is significant that Omni has raised about $40 million from venture capitals and strategic partnerships. Most noteworthy, the startup raised about $25 million of them in XRP. The company believes that having a cryptocurrency like XRP as a payment method currency will benefit both the firm and its users.
Users can gain liquidity from their rented items and thus increase and nurture their investment profile. Moreover, the company has to pay less in transaction fees when using USD as the payment currency.
McLeod further stated this. “In every other crypto investment scenario, you have to risk your cash — this way you can put items you already own to work for you and have them earn XRP while you relax. With this integration, you can basically double dip on ownership-as-investment by both unlocking liquidity early and investing some or all of the proceeds back into the crypto markets.”
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.