Storage and rental startup Omni has announced that it now supports Ripple (XRP) payments which means users on the platform can access payments in the form of the cryptocurrency.
The San Francisco-based startup made the announcement after securing Ripple worth $25 million. The company plans to ride on the growing popularity of cryptocurrencies so as to gain more traction. The company is determined to introduce a new dimension of ownership where everyone can store anything they want without having to own storage units.
?I think any company scaling today has to have a crypto strategy. This is the start of ours,? stated Omni founder and CEO, Tom McLeod.
? Christian ?????? (@DonChristiano73) October 22, 2018
Omni?s interesting business strategy
Omni allows users to rent out their possessions to other users on the platform. It was created on the premise that users can make money by renting out things that they rarely use. The idea of sharing content and possessions has become popular over the past few years and major companies such as Airbnb and Uber have successfully executed their businesses from the same idea.
Users were previously paid in exclusively in U.S dollars but the Ripple is now an added payment option as part of the startup?s plan to introduce more flexibility. ?Additionally, the Ripple option will allow users to cash out without any transaction fees. Although Omni will allow users to receive payments in XRP form, there will be a feature which allows users to convert their XRP into U.S dollars if they wish to do so.
Omni is making moves based on cryptocurrency market outlook
Omni is the latest company to venture into the cryptocurrency despite the crypto market?s poor performance. However, many analysts are convinced that the market will become more stable and that cryptocurrencies will continue to exist in the future especially due to the efficiencies they offer. Some tech companies have been adopting digital currencies and blockchain technology so that they can prepare for the future.
Omni has not revealed whether it plans to support other cryptocurrencies in the future. However, that will likely be the case if digital currency adoption gains traction.