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Ripple Launches New Liquidity Solution to Connect Cryptocurrency and Fiat for Businesses

14 April 2023
in Latest News, News
Reading Time: 3 mins read
104 4
Home News Latest News

Ripple yesterday unveiled its liquidity solution that aims to bridge the gap between cryptocurrency and fiat for businesses. The Ripple liquidity hub, which underwent successful testing last year, would provide firms with a pool of liquidity in addition to Ripple’s on-demand liquidity (ODL) cross-border payment service.

The service is designed for independent use, providing partners with access to payout rails worldwide and creating a global liquidity network. The liquidity hub has been designed with an enterprise perspective to offer digital assets from diverse market makers, which includes crypto exchanges. 

The company aims to reduce barriers for businesses that wish to improve their liquidity, enable crypto-based payments and operations, or assist customers interested in buying, selling, or holding cryptocurrencies.

Brad Chase, Head of Liquidity Products at Ripple, stated:

“Liquidity Hub benefits from all the hard-won lessons Ripple gained sourcing liquidity from other providers and across multiple venues for ODL.”

According to Chase, the new solution provides a single, scalable, enterprise-grade solution that includes user-friendly features, robust payment integrations, cost-efficient benefits, and additional capabilities.

Business partners in need of liquidity can access large pools of deep liquidity consisting of multiple currencies like the US dollar (USD), Bitcoin (BTC), Ether (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH), and Litecoin (LTC).

Notably, XRP, a digital asset issued by Ripple, is not mentioned in the product launch, despite being included in the company’s pilot phase. This absence of XRP from the liquidity pairs may be linked to the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC).

Chase added that the Liquidity Hub provides teams with the advantages of usability and interoperability, enabling them to initiate operations smoothly and handle the assets essential for their business.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

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Favour Udeo

Favour is a writer, who is interested in blockchain, DeFi, and Web3 in general. She finds machine learning and emerging technologies interesting.

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