Rental company Omni CEO and co-founder Thomas McLeod recently explained how he is partnering with Ripple and using XRP to expand the sharing economy and bring liquidity to his customers.
Omni allows neighbors to find and rent items from each other – from bicycles to air mattresses – by searching for specific keywords or categories (e.g. home, travel, game night, seasonal vacation).
The on-site delivery of items service also enables users to make money when their items are rented. Users can withdraw their earnings to an XRP wallet. This is the first platform that allows users to purchase XRP outside of an exchange.
“By enabling XRP payouts, we aim to lower the barrier to entry for crypto-curious consumers and reduce risk as you still own the asset.”
In a recent interview with Ripple, McLeod says Omni’s mission is to “connect the world through things” as they work to build an entire rental market.
“So there is a world where anything you have should be able to connect with other people, and other people should be able to use those things too. So if you have a bike and you don’t use it, someone else can use it when you don’t use it. And now you can make money on top of that. “
McLeod compares Omni to a bank with actual assets like “bikes, books, and camping gear,” and explains how XRP can play a role in the Omni ecosystem.
“It became very clear that this could be a great tool both to provide tremendous quick liquidity to pay off the capital you earn on the rental side and to quickly connect individuals to these assets in the future.”
Back in May, Ripple announced that Omni was one of the first investments the company had made with its new Xpring initiative.
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