Ripple, famous for offering various liquidity solutions and cross-border remittance services, has launched its liquidity hub for businesses.
The new product, which was launched on April 13 after a successful pilot last year, aims to bridge the gap between crypto and fiat by offering a pool of liquidity to businesses.
The Ripple liquidity hub operates as a stand-alone solution in addition to Ripple’s popular cross-border payments service called on-demand liquidity (ODL).
This makes it a global liquidity network offering its partners access to payout rails worldwide. The service has been developed from an enterprise point of view to offer digital assets from various market makers, including crypto exchanges and over-the-counter trading desks.
Interestingly, the product launch finds no mention of XRP, the crypto token issued by Ripple. XRP has been central to most liquidity products and services the fintech firm offers, especially cross-border liquidity services.
However, XRP was mentioned among digital assets in the company’s pilot phase. The omission of XRP from its liquidity pairs could be attributed to the company’s ongoing court battle in the U.S. with the Securities and Exchange Commission.
The Ripple liquidity solution aims to considerably reduce the cost of operations on high-volume transactions by optimizing cryptocurrency pricing and liquidity across asset pairs. The liquidity hub eliminates the need to pre-finance capital positions to source liquidity or conduct transactions.
The liquidity service reduces complicated multiplatform administration requirements by enabling organizations to access digital assets in a single place. The services also lock in optimum pricing for digital assets to protect companies from market instability and price swings.
Ripple’s popular ODL solution has onboarded several banks worldwide to provide cheap remittance services with the help of cryptocurrencies.
With the launch of the liquidity hub, Ripple is expanding its offerings and providing businesses with access to a pool of liquidity in addition to its existing cross-border payments service.
The new Ripple liquidity hub offers enterprises deep liquidity pools in several digital assets, including United States dollars, Bitcoin, Ether, Ethereum Classic, Bitcoin Cash, and Litecoin.
This enables enterprises to source liquidity quickly and easily, reducing the need to pre-finance capital positions or conduct transactions, and reducing the cost of operations on high-volume transactions.
Ripple Liquidity Hub
In Summary the Ripple liquidity solution offers enterprises access to a global liquidity network, enabling them to access payout rails worldwide.
The services also lock in optimum pricing for digital assets to protect companies from market instability and price swings. By providing businesses with a pool of liquidity, Ripple is helping to bridge the gap between crypto and fiat and enabling businesses to access digital assets quickly and easily.