TRENDING:
Fed Minutes
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Ripple to launch 'Liquidity Hub' for finance firms that want to offer crypto trading

Ripple to launch 'Liquidity Hub' for finance firms that want to offer crypto trading
Cointelegraph TeamCointelegraph TeamCointelegraph

Fintech firm Ripple has announced a new service aimed at finance companies that will allow them to offer cryptocurrency trading to customers.

Ripple unveiled the Liquidity Hub service in a blog post on Nov. 9, touting a “crypto-first future” in which every company will need to have a strategy for crypto assets.

The new service will target its enterprise clients giving them access to digital assets from a range of providers such as exchanges, market makers, and over-the-counter (OTC) trading desks. It is currently in the preview stage and will launch in 2022.

Liquidity Hub will initially support Bitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash, and XRP with availability varying by geographical location according to the announcement.

The company plans to expand its crypto asset offerings and include other tokens including NFTs in the future.

RippleNet General Manager Asheesh Birla said that the company has been using this crypto sourcing technology to support its On-Demand Liquidity (ODL) product for nearly two years. He added, “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.”

America’s first licensed Bitcoin ATM company, Coinme, is the first partner for the alpha version of Liquidity Hub.

Ripple is also delving deeper into DeFi, announcing plans to offer crypto staking and investment services. Birla added that it is only logical that clients will want the next generations of services after buying and holding Ethereum.

On Nov. 6, Cointelegraph reported that Ripple will be supporting wrapped XRP (wXRP) on the Ethereum network enabling holders of its native token to interact with DeFi protocols.

The San Francisco-based fintech firm is still embroiled in an ongoing battle with the Securities and Exchange Commission. In the latest turn in the saga, Magistrate Judge Sarah Netburn has ordered the company to find and produce video and audio recordings of its internal meetings for evidence in the case.

The financial regulator is suing Ripple and its executives for allegedly raising more than $1.3 billion through an unregistered securities offering.

Author

Cointelegraph Team

Cointelegraph Team

Cointelegraph

We are privileged enough to work with the best and brightest in Bitcoin.

More from Cointelegraph Team
Share:

Editor's Picks

Zcash Price Forecast: ZEC poses 20% downside risk amid steady ETF outflows

Zcash Price Forecast: ZEC poses 20% downside risk amid steady ETF outflows

Zcash price is trading below $1,300 continuing a steady decline over the past 10 days and slipping from its $1,698 peak on September 27. Grayscale’s ZEC Exchange-Traded Fund continues to record consistent outflows, with $8.49 million on Wednesday, suggesting reduced demand following the recent stock split.

Ripple and Stellar outlook: XRP and XLM test key support amid rising downside risks

Ripple and Stellar outlook: XRP and XLM test key support amid rising downside risks

Ripple and Stellar remain under pressure and extend their corrections as weakening derivatives metrics and broader macroeconomic headwinds weigh on sentiment. XRP and XLM approach a key support zone after three consecutive days of losses so far this week.

Samsung partners with Solana to integrate stablecoins into US Galaxy devices

Samsung partners with Solana to integrate stablecoins into US Galaxy devices

Samsung announced a partnership with Solana to integrate the US Dollar stablecoin issued by Circle, USDC, into US Galaxy devices, supporting cross-border remittances. The feature will be built into the Samsung Pay and Samsung Wallet apps, sharing the same screen used for displaying credit cards and boarding passes.

Cryptocurrencies face new security risk as Ethereum researcher warns of potential ECDSA break

Cryptocurrencies face new security risk as Ethereum researcher warns of potential ECDSA break

Ethereum (ETH) researcher Justin Drake has urged the crypto industry to begin preparing for a potential breakthrough that could undermine the cryptographic systems securing digital assets. In an X post on Wednesday, Drake called on the industry to calmly enter what he described as “bunker mode.”
Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin (BTC) extends its gains, trading near $86,000 at the time of writing on Friday after closing September 6.33% up, reversing its seasonal weakness. Historical data suggest October could be a strong month for BTC, especially after a positive September.