Ripple, the popular enterprise blockchain and cryptocurrency solutions provider as well as the creator of the XRP token, has announced a new service aimed at finance companies, which will give them the ability to offer cryptocurrency trading to their clients. The Ripple Liquidity Hub, as it has been dubbed, will allow customers to access crypto assets from a variety of global locations, including market makers, exchanges, over-the-counter (OTC) desks and, in the future, decentralized locations. The ‘Liquidity Hub’ is scheduled to launch sometime in 2022.
“The product will support turn-key integration and smart order routing to source digital assets at customized prices to give customers the ability to easily buy, sell and hold. crypto assets,” Ripple explained.
Initially, the platform will support cryptocurrencies such as Bitcoin, ether, litecoin, ethereum classic, bitcoin cash, And XRP Which is a core asset of the Ripple blockchain. There are also plans to expand to more tokenized assets in due course. “In the future, Ripple plans to add additional features such as support for stake and yield-generating functions,” the company said in a statement.
The announcement said that Ripple has been using Liquidity Hub internally for nearly two years “as part of its On-Demand Liquidity (ODL) product for internal liquidity management, powering millions of transactions, whose The price is billions of dollars.” Ripple ODL is a service that allows banks, market players and other financial institutions to make cross-border payments using XRP.
Ripple’s first partner to use the product is Coinme, a digital currency exchange and crypto-to-cash network. “Initially, Coinme will use Liquidity Hub’s underlying technology platform, with plans to unlock additional functionality as soon as it becomes available,” Ripple elaborated.
The announcement of the launch of Ripple’s Liquidity Hub comes at a time when Ripple a. continues to struggle through legal battle with the US Securities and Exchange Commission (SEC). The securities regulator has sued Ripple Labs, its CEO Brad Garlinghouse and co-founder Chris Larsen for allegedly raising more than $1.3 billion (about Rs 9,675 crore) through XRP, which the commission considers an unregistered security offering.