Thomas McLeod is the CEO and co-founder of OMNI which is a renting service in San Francisco Bay Area and Portland.
Introducing Ripple’s XRP as another option for cashouts
He spoke about OMNI during the last episode of The Ripple Drop. He also made sure to address his experience of introducing XRP as another option for cash outs apart from USD on their platforms.
He started by talking about the platform key role, and he said that the primary objective is to connect the whole world through “things.”
He added that their initial idea was of storage and collection of things are they are currently building an entire rental marketplace.
“So there’s a world in which everything that you have you should be able to connect with other people and other people should be able to use those things as well so if you have a bike and you’re not using it someone else can use it when you’re not using it. and now you can also make money on top of that,” he said.
McLeod also spoke about the company integrating XRP on their platform and the massive impact that this could have for users.
He remarked that on the long run, they see themselves as a bank and instead of having assets like the dollar and yen, the platform has books, bikes, and equipment which are actually assets, according to him.
“It became very clear that this could be a great tool for both providing vast, rapid liquidity for sort of cashing out the capital that you make through the rental side as well as in the future connecting individuals quickly with those assets,” he said.
Ripple SVP Ethan Beard also spoke about xSpring and its use case. He said that Xspoung is an initiative that is focused on the new use cases for XRP and XRP Ledger outside of cross-border payments.
The Head of XRP Markets at Ripple Miguel Vias said that the new use cases of XRP are “incredibly accretive” to the global growth of liquidity and mostly for XRP.