Omni, an online rental and storage firm, is making a move to accept cryptocurrency. The San Fransisco-based startup has expanded its services to allow its users to access Ripple (XRP). This means they will no longer need to cash out their rental income through their conventional bank account. The self-storage company says that it has raised over $40 million in its efforts to transform the traditional self-storage world.
Acknowledging the company’s efforts, Omni CEO Tom McLeod said, “Having a strategy for how you want to work with some degree of crypto is important for almost any startup at this point.”
Omni users have been storing their items for a flat monthly fee per item. However, Omni says that its mandate is to change the view of the majority regarding the ownership and storage of their assets. Instead of storing them in a traditional bank account, they can tap into the use of Ripple‘s XRP wallet.
Using an example of a tent that rents for $50 over the weekend, McLeod explains that an Omni user can have two cashouts. They can put $25 in USD in their traditional bank accounts and invest the remaining $25 in their XRP wallet. In a recent interview with Business Insider, McLeod revealed that they are willing to undo any barrierthat would hinder access to cryptocurrency.
Ripple‘s XRP has a greater token liquidity
The use of rentals enables the user to unlock the value of assets. As such Omni is taking its position in being a reliable tool for unlocking liquidity. XRP is a great fit for anyone dipping their toes into cryptocurrency. According to Omni COO Ryan Delk, it has a faster transaction speed in addition to the low cost of transfer. This is besides being very liquid, which means one can transfer XRP into any other major currency.
From the look of things and with the booming expansion of cryptocurrency despite the bear market more companies are likely to adopt crypto strategies. That said, both the company and anyone investing in crypto must be ready to take risks with their cash.