JAKARTA – Ripple announced its newest service, Liquidity Hub. The service is aimed at venture companies that allow them to offer crypto trading offerings to their customers.
This information was conveyed by Ripple in a blog post on its official website on November 9, 2021 yesterday. In the announcement, Ripple encouraged other companies to have strategies for crypto assets.
The Liquidity Hub service allows companies to provide customers with access to digital assets from various providers including exchanges, market makers, and OTC. The service is currently in the preview stage and is scheduled to launch in 2022.
Previously, the Liquidity Hub service was rumored to be supporting a number of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), and Ripple (XRP) with varying amounts of availability. according to the geographical location of the customer. In addition, the company will also expand its offering of crypto assets and non-fungible tokens (NFT) in the near future.
Asheesh Birla as General Manager of RippleNet said that the company has been using crypto-key technology to support its Liquidity-On-Demand (ODL) products for almost two years.
“Our customers want access to the same trusted one-stop shop for buying, selling, and holding crypto assets that have supported our own extensive work with financial institutions,” said Birla.
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For information, the first Bitcoin ATM company in America, Coinme, is the first partner for the alpha version of Liquidity Hub.
Ripple is also dipping deeper into the realm of decentralized finance (DeFi), the company announcing plans to offer crypto staking and investment services. Birla added that it makes sense for clients to want the next generation of services after buying and holding Ethereum.
Last week, it was reported that Ripple would support XRP (wXRP) packaged on the Ethereum network so token holders can interact with the DeFi protocol.
Until now, Ripple is still at loggerheads with the US Securities and Exchange Commission (SEC) in court. The latest news, Judge Sarah Netburn ordered the company to find and produce video and audio recordings of internal meetings that could be evidence of the case. Previously, Ripple officials were sued for accumulating more than $1.3 billion through offering unregistered securities, as reported by Cointelegraph.
At the time of writing, the price of Ripple (XRP) is trading at the level of Rp. 17,717. XRP has decreased by 1.4 percent in the last 24 hours. Meanwhile, in one week XRP increased by 9.2 percent.
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