Ripple Company unveiled a fresh collaboration today with the leading gaming platform, Roblox, enabling the latter to accept XRP currency as a means of payment. This partnership signifies another significant development in Ripple’s business growth strategy since its triumph in its legal dispute with the U.S. Securities and Exchange Commission (SEC).
In addition to its partnership with Roblox platform, Ripple has taken further strategic steps to expand its global operations. Earlier this month, the company obtained a comprehensive license from the Monetary Authority of Singapore to regulate digital currency payment services within its jurisdiction.
Simultaneously, Ripple is engaged in discussions regarding a potential collaboration with the Australian Shipping and Trade Union, indicating further efforts to diversify its business into various sectors.
Ripple’s expansion efforts post its legal victory against the SEC have begun, reshaping its presence in the crypto sector. According to a statement issued by the blockchain payment service provider, BitPay, the new deal facilitates the use of XRP currency in purchasing products available on the Roblox platform. It is worth noting that Roblox platform boasts a massive user base exceeding 200 million monthly active users, with an additional 65.5 million daily active users, and 44% of its users being under the age of 13.
This broad audience has collectively spent around 773 million dollars on in-game purchases during the first quarter of 2023 alone. Xsolla, a company specializing in facilitating financial transactions within Roblox platform, will work to facilitate the new integration to include the option of paying with XRP.
Mechanisms for adding XRP as a multi-party payment option have been included, with the Roblox platform closely collaborating with Coinchange Financial and TradeZing. These two companies have developed a digital asset payment system that now supports the use of XRP, with BitPay ensuring seamless integration of digital wallets with the new payment system.
As the general reliance on digital currencies grows, the integration of XRP currency into the payment system of the popular gaming platform, Roblox, could serve as a precedent for effectively integrating digital assets across various existing platforms. For Roblox, its decision to include XRP as a payment option may serve as a guiding approach that could assist other gaming companies in considering the integration of digital currencies into their payment systems.
For Ripple, this partnership could serve as an incentive to attract more future partnership deals, especially from sectors beyond the gaming and financial services ecosystems. The successful execution of this partnership may also positively influence how regulatory bodies view digital currencies in the context of broader commercial applications.