Xago CEO: XRP is currently more suitable for retail needs than BTC

According to AMBCrypto, South African financial technology company Xago recently announced the launch of a custom exchange and XRP gateway based on Ripple Ledger. Jago CEO and co-founder Jurgen Kuhnel recently interviewed the media to discuss the decision to create an XRP-centric exchange, the views on Bitcoin and the intent of Xago to focus on the African market. Kuhnel pointed out that the decision to develop an exchange focused on XRP is mainly because Bitcoin is not suitable for retail demand. “We like Bitcoin and we like what Bitcoin stands for, but for retail payments, the current bitcoin format is not suitable for this task. The purpose of our exchange is to build for XRP in the country we are expanding into. Liquidity.” He pointed out that XRP's low transaction fees and real-time transaction confirmations are exactly the same as Xago's goal of improving retail payment efficiency, adding that the decision is made after market feedback is positive. The Xago platform mobile payment service is expected to be launched in early 2020 and will allow for cross-border payments, retail payments and point-to-point payments. Kuhnel also hinted that its mobile payment system could be used for purposes other than XRP payments. However, it will currently be XRP.