Ripple to launch new crypto solutions for finance enterprises
Popular blockchain and crypto-solutions provider Ripple announced on Tuesday that it has plans to launch a new liquidity service for financial services firms in 2022.
The solution called ‘Liquidity Hub’ will enable enterprises to offer crypto trading services to their customers. The new service will let users access digital assets from several global venues, including market makers, exchanges, and over-the-counter trading desks.
By securing the liquidity of crypto-assets for companies, the popular fintech firm aims to increase the entry of banks and fintech companies into the cryptocurrency industry by providing relevant solutions. Ripple will support BTC, ETH, LTC, ETH, BCH, and XRP at the time of launching, with plans to add more crypto assets in the future.
Ripple has over two years of experience in managing XRP liquidity to provide the remittance solution ODL (On-Demand Liquidity), RippleNet GM Asheesh Birla said in the company’s blog post. Utilizing this experience, Birla noted that they will provide services that can provide liquidity to companies for other stocks as well.
“We know full-well the need for easy and efficient liquidity management. Crypto and financial institutions are embedded in our DNA,” Birla noted. He then added:
“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.”
The new service will also introduce turn-key integration and smart order routing, which automatically searches for the best price and executes orders to secure liquidity efficiently.
Furthermore, Ripple also intends to add functions such as staking and yield generation in its product offering. It revealed that Coinme has become Ripple Liquidity Hub’s first partner. Coinme is the first licensed Bitcoin ATM company in the United States, with thousands of ATMs spread across 48 states in the country.
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