Ripple, the Fintech firm, has announced their plans of bringing out a new service that would be aimed at financial companies. This would allow them to offer customers a trade-in cryptocurrency. The Liquidity Hub, as the firm has been calling, was unveiled by XRP in a blog post on Tuesday, which has since then been touted as a crypto-first future- a project in which every company will have to devise a strategy for cryptocurrency assets.
The new service will be aimed towards its enterprise clients, which would provide them access to most of the digital assets from a series of providers like market makers, exchanges, and over-the-counter trading desks. Currently, Liquidity Hub is in its preview stage, and will soon be launched in 2022.
Ripple Unveils Liquidity Hub
Ripple’s Liquidity Hub will initially support Bitcoin, Ethereum, Litecoin, Ethereum Classic, XRP, and Bitcoin Cash with the availability of its support varying over the geographical locations, as announced by the fintech firm. The company also has plans of leading an expansion of its offerings in crypto assets, which would include other tokens such as NFTs in the future.
Asheesh Birla, the general manager of RippleNet, has stated that the company has been moving towards using this crypto sourcing technology in order to support the On-Demand Liquidity project for a couple of years now. He further added that most of their customers would definitely want some access to the same trusted one-stop shop for purchase, selling, whilst holding crypto assets that have led to implementing the company’s own extensive work with a bunch of financial institutions.
Ripple has also been diving deep into the sector of decentralized finance, or DeFi, as it announced its plans which would offer investment services and crypto staking. Birla further added that it was seemingly logical for the clients to want more service which would encompass purchasing and storing Ether.
