Ripple announced plans to launch a crypto trading marketplace called Liquidity Hub to offer crypto trading services to enterprise clients.
Fintech start-up Ripple on Tuesday said it’s launching a new product that lets financial services firms offer their customers the ability to buy and sell cryptocurrencies. The San Francisco-based company said the feature, called Liquidity Hub, will give its enterprise clients access to digital assets from a range of sources including market makers, exchanges and over-the-counter trading desks.
The team explained that the same crypto sourcing technology had supported Ripple’s On-Demand Liquidity (ODL) product for nearly two years. But, as per RippleNet GM Asheesh Birla, the new financial product will address customer demands. “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.”
Founded in 2012, Ripple is closely associated with the cryptocurrency XRP. The company markets XRP to financial firms as a kind of “bridge” for speeding up international payments with its On-Demand Liquidity product.
Ripple was also one the first enterprise companies to leverage crypto to tackle the global challenges with cross-border payments. It has since expanded from a cross-border payments platform to a digitised service that aims to bring crypto capabilities to enterprises and prepare them for a future where crypto is at the forefront of innovation.
In a blog post, Ripple stated, “while the XRP Ledger and XRP are and will remain a native part of our tech stack, we at Ripple believe that achieving interoperability is key to unlocking crypto’s true potential.”
We all understand how crucial SEC lawsuit against Ripple is not only for the project, but for cryptocurrencies future.