Ripple will help financial companies that want to offer crypto trading services as it strives to promote the mainstream adoption of crypto as we are reading more in our latest Ripple news today.
San Francisco-based blockchain company Ripple announced that it will launch a product that will allow financial services companies to start offering their clients access to crypto trading. In the blog post, the company noted that the new product “Ripple Liquidity Hub” will provide enterprise clients access to digital assets from a wide range of providers like market makers, exchanges, and OTC trading desks.
The service will leverage smart order routing and will provide enterprise clients with digital assets with some of the best rates in the market. The announcement revealed that the Liquidity hub will provide support for six of the most prominent crypto assets in the industry with more assets going to be added over time. The first six coins include BTC, ETH, BCH, LTC, ETC, and Ripple. Ripple will help these companies thanks to the availability of these assets but will be determined by geographical locations. Commenting on the new developments, Asheesh Birla from RippleNet Said:
“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.”
According to the new announcement, Ripple will add extra features to the liquidity hub and will include staking as well as several yields generating functionalities. Birla noted that the infrastructure for the Ripple Liquidity Hub is in place and this service will be in the preview stage and is expected to go live by 2022. the first partner for the Alpha version of the product is America’s first licensed BTC ATM provider Coinme. In the meantime, Ripple is still in an ongoing battle with the US SEC and the regulator alleged that the company and its executives raised over $1.3 billion in unauthorized securities offerings.
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