Ripple, a leading provider of enterprise blockchain and crypto solutions based in San Francisco, has recently announced the launch of a new solution for enterprise customers called Liquidity Hub.
This will allow customers to access crypto assets from a variety of global venues, including market makers, exchanges, OTC desks, and, in the future, decentralized venues. The service will leverage Ripple’s existing On-Demand Liquidity Platform, which allows banks, market players, and other financial institutions to carry out cross-border payments using XRP.
At first, it will support Bitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash, and XRP, with plans to expand to more tokenized assets. They also plan to add more functionalities such as support for staking and yield generating. The new service is in the preview stage at the moment, set to be launched in 2022.
General Manager, Asheesh Birla, declared that this technology to support its On-Demand Liquidity (ODL) had been used by the company for nearly two years.
Ripple is also seeking to enter the decentralized finance space in the future. The company plans to allow its clients to buy BTC, ETH, and other digital assets by enabling them to scan various crypto exchanges, OTC desks, and other crypto sellers.
According to CoinMarketCap data, XRP is the seventh biggest digital currency globally, with nearly $60 billion worth of tokens in circulation.
The company is currently being sued by the U.S. Securities and Exchange Commission for allegedly raising more than $1.3 billion through an unregistered securities offering.