Ripple, the popular enterprise blockchain and cryptocurrency solutions provider as well as the creators of the XRP token, have announced a new service that is aimed at finance companies, which will give them the ability to offer cryptocurrency trading to their customers. Ripple Liquidity Hub, as it is dubbed, will allow customers to seamlessly access crypto assets from a variety of global venues, including market makers, exchanges, over-the-counter (OTC) desks and, in the future, decentralised venues too. The 'liquidity hub' is due to launch sometime in 2022.

"The product will support turn-key integration and smart order routing to source digital assets at optimised prices giving customers the ability to easily buy, sell, and hold crypto assets," Ripple explained. [1]

Figure 1. Ripple Launches Crypto Liquidity Hub to Help Customers Buy, Sell, Hold Assets

Figure 1 shows initially, the platform will help cryptocurrencies akin to Bitcoin, Ether, Litecoin, Ethereum Basic, Bitcoin Money, and XRP which is the native asset of the Ripple blockchain. There are plans to develop to extra tokenised property too in due time. “Sooner or later Ripple plans so as to add further options akin to help for staking and yield producing functionalities,” the corporate famous in a press release.

The announcement notes that Ripple has been utilizing the Liquidity Hub internally for shut to 2 years now “for inner liquidity administration as a part of its On-Demand Liquidity (ODL) product, powering thousands and thousands of transactions, value billions of {dollars}.” Ripple ODL is a service that permits banks, market gamers, and different monetary establishments to hold out cross-border funds utilizing XRP. [2]

Going forward, all clients will sign up for RippleNet with the same basic service and wallet that supports both crypto and fiat currencies. Customers can adopt this technology to stay on the cutting edge with the latest blockchain-based solutions. The platform is designed to seamlessly upgrade and add new services as customers wish. Customers can store anything tokenized in a Rippleenable-enabled wallet.

RippleNet closed its best quarter so far, announcing more than 20 new ODL markets, including new deployments in Japan and the Middle East and a 25x increase in the international flow of the network.

Ripple announced the creation of a liquidity hub as the company continues to seek legal action with the US Securities and Exchange Commission (SEC). The U.S. Securities and Exchange Commission (SEC) accused Ripple Labs CEO Brad Garlinghouse and co-founder Chris Larsen of raising more than $1.3 billion through XRP. sued with The Commission is considering an offer of unregistered securities. [3]

References:

1. https://gadgets.ndtv.com/cryptocurrency/news/ripple-crypto-liquidity-hub-launch-xrp-sec-lawsuit-2607263
2. https://news7h.com/ripple-launches-crypto-liquidity-hub-to-help-customers-buy-sell-hold-assets/
3. https://www.yourtechstory.com/2021/11/12/ripple-launches-crypto-liquidity-hub-to-assist-customers-in-buying-selling-and-holding-cryptocurrencies/

Cite this article:

Thanusri swetha J (2022), Ripple Launches Crypto Liquidity Hub to Help Customers Buy, Sell, Hold Assets, pp. 94