Ripple launches Liquidity Hub for enterprise clients with support for Bitcoin, Ethereum, and others 🚨 This article is 3 years old...
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Ripple launches Liquidity Hub for enterprise clients with support for Bitcoin, Ethereum, and others
The new service is set to enable finance companies to offer cryptocurrency trading to their customers.
2 min read
Updated: Nov. 12, 2021 at 1:53 pm UTC
Photo by Lok Yiu Cheung on Unsplash
Global fintech giant Ripple announced that it has launched a new service called the Liquidity Hub.
According to a blog post published on Tuesday, Liquidity Hub is a groundbreaking new way for enterprises to easily and efficiently source digital assets from the broader crypto market.
Bringing cryptocurrency trading to enterprises
Ripple’s latest service was designed to help enterprises accelerate their shift into the cryptocurrency market. Liquidity Hub was designed as a turnkey solution for financial institutions that leverages smart order routing to source cryptocurrencies at optimized prices from market makers, exchanges, and OTC desks.
“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 have powered our own extensive work with financial institutions,” said Ripple GM Asheesh Birla.
Birla noted that the same crypto sourcing technology employed in the Liquidity Hub has been in use in Ripple’s On-Demand Liquidity Product (ODL) for nearly two years.
The Liquidity Hub will launch in 2022 and will initially support Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), and XRP, with more digital assets to be added over time. In the future, the company also plans on adding functionalities such as staking and yield generating, but no specific date was given for their launch.
Coinme, the first licensed Bitcoin ATM company in the U.S., will be the first partner for the alpha version of the Liquidity Hub. The company will utilize the underlying technology platform of the Liquidity Hub for the thousands of ATMs it has across the country, with plans to unlock additional functionality as it becomes available.
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Posted In: XRP, Enterprise
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Andjela Radmilac
Armed with a classical education and an eye for news, Andjela dove head deep into the crypto industry in 2018 after spending years covering politics.
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In this article
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.
Coinme
Coinme is a Seattle-based crypto financial services and blockchain technology company dedicated to helping the world gain access to virtual currency.