Ripple Launches Crypto Service for Financial Enterprises
Ripple Labs announced on Tuesday that it will launch a new “Liquidity Hub” product to aide enterprise customers access BTC, ETH, LTC, ETC, BCH and XRP from a number of crypto exchanges, market makers and OTC desks.
The San Francisco-based fintech company is currently in a skirmish with the U.S. Securities and Exchange Commission over XRP.
The Ripple Liquidity Hub will start by supporting the five cryptos and use smart order routing to source digital assets at optimized prices. Bitcoin exchange and ATM operator, Coinme, will be the first to make us of the new service. The ATM operator recently partnered with Walmart.
Announcing Ripple Liquidity Hub – a new way for enterprises to easily and efficiently source and utilize tokenized assets from the broader crypto market. Read more: https://t.co/GAUM3nRHi0#RippleSwell
— Ripple (@Ripple) November 9, 2021
https://platform.twitter.com/widgets.js
Additional features like staking and yield generating functionalities will later be added. Ripple will also explore liquidity from a growing army of decentralized exchanges (DEXs), according to Asheesh Birla, general manager of cross-border payment system RippleNet.
Two years in the making, the Liquidity Hub is expected to go live early 2022. Birla, not distracted by the SEC’s allegations and ongoing lawsuit, said about their new venture:
“We know full-well the need for easy and efficient liquidity management. Crypto and financial institutions are embedded in our DNA. So, it makes perfect sense that as they prepare for a crypto-first world, our customers would want access to the same trusted one-stop shop for buying, selling and holding crypto assets that has powered our own extensive work with financial institutions.”
Ripple is one of the world’s largest crypto start-ups. Investors include capital firm Andreessen Horowitz, Japanese financial services company SBI Holdings and Spanish bank Santander.
The post Ripple Launches Crypto Service for Financial Enterprises appeared first on iGaming.org.
Source: igaming
