Ripple, a major blockchain company, has revealed its brand-new solution dubbed Ripple Liquidity Hub, which targets enterprise customers and is set to be launched in 2022. According to the press release, the solution allows customers to access crypto assets from different venues such as market makers, exchanges, OTC desks, and in the future, decentralized venues.
Initially, the hub will support Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Ripple (XRP). However, the availability of the latest one will vary depending on location, said the company. Also, it pointed out that plans consider expanding further to more tokenized assets.
“We understand firsthand the need for easy and efficient liquidity management – and as such, we’ve received questions from our customers who are in need of solutions that can be a one-stop-shop to buy, sell and hold crypto assets. The combination of Ripple’s crypto DNA and long history working with financial institutions makes us uniquely positioned to address this problem for our customers as they prepare for a tokenized future,” Asheesh Birla, RippleNet GM, commented.
Ripple stated that its Liquidity Hub had been used for internal liquidity purposes as part of its On-Demand Liquidity (ODL) product. The first partner of the alpha product tapped for the purpose is Coinme, which is the largest licensed crypto-cash network in the United States. “Coinme offers convenient and simple access to exchange cash for crypto. Managing this extensive network requires around-the-clock access to liquidity 24/7/365, so we can provide the best prices to our customers for a variety of assets. We’re excited to partner with Ripple to bring these benefits to our customers and business,” Neil Bergquist, CEO of Coinme, said about the partnership.
Ripple in the Middle East
In October, Ripple partnered with Pyypl, a leading global blockchain-based financial services technology company in the Middle East and Africa, for the launch of RippleNet’s ODL deployment in the Middle East.
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