The financial technology company Ripple has announced a new service for financial companies that enables them to offer their customers trading in cryptocurrencies.
Ripple presented the Liquidity Hub service on November 9th in a blog post promoting a “future of cryptocurrencies”. in which all companies must have a strategy for crypto assets.
The new service is aimed at business customers and offers them access to digital assets from a number of providers such as exchanges, market makers and over-the-counter (OTC) trading desks. It is currently in the forecasting phase and will be launched in 2022.
Liquidity Hub will initially be compatible with Bitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash and XRP. and its availability varies by geographic location, depending on the ad.
The company plans to expand its range of crypto assets to include other tokens, including NFTs, in the future.
That said Asheesh Birla, CEO of RippleNet The company has been using this cryptocurrency sourcing technology to support its On-Demand Liquidity (ODL) product for nearly two years. He added that “our customers like to have access to the same trusted one-stop shop to buy, sell and hold crypto assets that has fueled our own extensive work with financial institutions.”
Coinme, the first licensed bitcoin ATM company in the United States, is the first partner of the Alpha version of Liquidity Hub.
Ripple is also entering the DeFi space: it announced plans to offer investment and staking services in cryptocurrencies. Birla added that it is logical that after purchasing and owning Ethereum, customers would want the next generations of services.
On November 6, Cointelegraph reported that Ripple will add Wrapped XRP (wXRP) support on the Ethereum network so that its native token holders can interact with DeFi protocols.
The San Francisco-based financial technology company remains in a battle with the US Securities and Exchange Commission. In the latest twist of the saga, Judge Sarah Netburn has directed the company to find and present video and audio recordings of its internal meetings as evidence in the case.
Financial regulators are suing Ripple and its executives for allegedly raising more than $ 1.3 billion through an unregistered offering of securities.