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Ripple: a new crypto platform for financial companies

Ripple crypto platform


Ripple has announced the launch of a new platform that will allow financial firms to offer crypto trading to their customers.

Liquidity Hub, Ripple’s platform for financial firms

The launch of this Ripple Liquidity Hub is expected to take place in 2022, and will allow customers of the companies to trade with a selection of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash and of course XRP.

In the future, the company also hopes to offer other digital asset exchanges on this platform, such as NFTs.

This will make it easy for financial firms to offer crypto trading to their clients, while the Liquidity Hub will draw digital assets from a variety of sources including market makers, exchanges and even OTC trading desks.

The new platform is currently in the preview phase.

Ripple is launching a new crypto platform

Ripple’s plans

The Liquidity Hub will complement the company’s other existing platform, RippleNet, which is used by banks and other financial institutions as a financial messaging service to manage cross-border transactions.

Increasingly, Ripple is working not so much on the evolution of its own cryptocurrency, XRP, but on platforms that allow it to offer new services to traditional financial companies. In fact, the use of cryptocurrencies is spreading even among traditional companies, primarily PayPal and Mastercard, and specialized companies like Ripple in this context have good reason to expand their activities.

According to the general manager of RippleNet, Asheesh Birla, the new Liquidity Hub is a kind of liquidity aggregator for cryptocurrency exchanges, and operates in a similar way to how Google Flights does for example for airlines and flights.

Ripple has been working on the new platform for two years, and the first customer to use it is crypto ATM service Coinme. The company has also said that it will also offer its financial partners XRP lines of credit, so that they don’t have to pre-fund their accounts to use the Liquidity Hub.

The price of XRP

The price of XRP has not been affected by the news, as it has essentially remained unchanged since yesterday. After all, the cryptocurrency is not directly involved in this project, except as one of those that will be traded.

Actually, compared to a month ago, XRP today lost almost 9%, though

 






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