Giant payment firm, Ripple, announced its plan to launch “Ripple Liquidity Hub” at the beginning of next year.
On 9 November, Ripple firm announced its plan to launch a “Crypto liquidity Hub” to help financial institutions to integrate their services related to crypto for their users.
“While there are many exchanges supporting liquidity through the consumer trading of digital assets, a true crypto-first world will remain elusive without enterprise participation, ” the announcement read.
Ripple team named its crypto liquidity platform as “Ripple Liquidity Hub ”. Ripple Liquidity Hub will provide a smart order routing to source digital assets at optimized prices from the market. And this will help the financial institutions or crypto-interested companies to offer crypto services like buying, selling and holding assets.
RippleNet General Manager Asheesh Birla elaborated this initiative of the Ripple team and said that the demand for crypto liquidity already increasing and the sectors like Banks, financial institutions, and SMEs needed such kinds of services because these sectors know very well that how they can modernize their existing traditional services by giving modern investment options.
The liquidity hub of Ripple will support its native token. XRP and the new product will support bitcoin (BTC), Ethereum (ETH), litecoin (LTC), ethereum classic (ETC) and bitcoin cash (BCH).
Ripple under the legal hurdle
Ripple is one of the top-level crypto firms which is helping all traditional and non-crypto firms and platforms to integrate themselves into crypto & blockchain technology.
But since the end of 2020, Ripple is facing huge legal issues. According to US regulators, Ripple firms sold huge amounts of unregistered XRP securities and also tried to manipulate the price of XRP tokens.