A recent claim suggesting that Apple Pay and Google Pay have endorsed XRP across 40 countries circulated widely within the cryptocurrency community over the weekend. This news was interpreted by many as a significant development for the cryptocurrency. However, a closer examination reveals that the situation is more complex than initially presented.
The Reality Behind the Claim
The claim gained traction following Trust Wallet's announcement on November 27 that users can now purchase crypto using Apple Pay and Google Pay. Trust Wallet has indeed integrated Apple Pay and Google Pay as funding options for cryptocurrency purchases. Nevertheless, this integration does not signify direct endorsement of XRP or any other cryptocurrency by Apple or Google.
According to Vincent Van Code, a prominent software engineer and crypto commentator, the assertion that Apple Pay and Google Pay support XRP is misleading. Van Code clarifies that these companies are not officially backing XRP; rather, third-party services facilitate the purchase of XRP and other cryptocurrencies using these payment methods.
In essence, Apple Pay and Google Pay are functioning as payment processors for cryptocurrency transactions. These platforms are not directly involved in endorsing XRP but are simply offered as convenient payment options for users.
How the Process Works
Trust Wallet allows users to acquire XRP and other cryptocurrencies by linking their Apple Pay or Google Pay accounts to the wallet. After linking, users can select XRP, specify the desired purchase amount, and finalize the transaction. The purchased cryptocurrency is then directly credited to their Trust Wallet. This streamlined process aims to make it easier for new users to engage with the cryptocurrency market.
However, as Vincent Van Code highlighted, the crucial aspect is that this functionality is provided by third-party fintech platforms, not through direct involvement or endorsement by Apple or Google in the cryptocurrency domain.
Supported Cryptocurrencies and Availability
This feature enables users to purchase a variety of cryptocurrencies, including XRP, Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). The service is available in over 40 countries, encompassing major markets such as the United States, the United Kingdom, Germany, Canada, and Brazil. Users can buy XRP using fiat currencies like USD and EUR, with a minimum purchase threshold of $20.
It is important to note that availability is contingent upon the user's geographical location, their chosen payment provider, and other regional factors. Consequently, not all users in every country may have access to this feature due to these variables.
Fact-Check Conclusion
While it is accurate that users can purchase XRP using Apple Pay and Google Pay in over 40 countries through platforms like Trust Wallet, it is essential to clarify that Apple and Google themselves are not endorsing XRP. As Vincent Van Code explained, these companies are merely providing payment infrastructure via third-party services integrated into Trust Wallet.
The assertion that Apple Pay and Google Pay endorse XRP is factually incorrect. Both Apple Pay and Google Pay are functioning solely as transaction processors, enabling users to buy XRP and other cryptocurrencies through platforms like Trust Wallet, without any direct involvement or endorsement of XRP by the respective tech giants.