Ripple, a popular blockchain and cryptocurrency solutions provider and maker of the XRP token, has announced a new service for financial companies that allows them to offer cryptocurrency trading to their customers.
Ripple Liquidity Hub, as it is called, will provide customers with seamless access to crypto assets from multiple global locations, including market makers, exchanges, OTC offices, and future decentralized locations. The Liquidity Center will launch sometime in 2022.
“This product will support turnkey integration and smart targeting of digital asset orders at optimized prices and allow customers to easily buy, sell, and hold crypto assets,” said Ripple.
Initially, the platform will support cryptocurrencies such as Bitcoin, Ether, Lightcoin, Etherium Classic, Bitcoin Cash, and XRP, which are the main assets of the Ripple blockchain.
Planned to expand to other tokenized properties in the future. “In the future, Ripple plans to add additional functionality such as tile support and revenue-generating functions,” the company said in a statement.
The announcement notes that Ripple has been using the Internal Liquidity Hub for nearly two years, “trading millions of dollars as part of its Liquidity on Demand (ODL) internal liquidity management product.
” Ripple ODL is a service that allows banks, market participants and other financial institutions to make cross-border payments using XRP.
The first partner to use Ripple’s products was Coinme, a network for cryptocurrency exchanges and crypto caches. “Initially, Coinme will leverage Liquidity Hub’s integrated technology platform, with plans to unlock additional features as they become available,” Ripple said.
Ripple’s announcement of the introduction of the Liquidity Center comes at a time when Ripple is embroiled in a legal dispute with the US Securities and Exchange Commission.
The Securities Commission is suing Ripple Labs, its chairman Brad Garlinghouse and co-founder Chris Larson for allegedly selling $1.3 billion.