Ripple Plans Crypto Trading Platform for FIs in 2022


Blockchain solutions provider Ripple introduced plans for a new platform to help enable users to buy, sell and hold digital assets, according to a Tuesday (Nov. 9) blog post on the company’s website.

Dubbed Ripple Liquidity Hub, the turnkey crypto solution, which is designed for financial institutions (FIs), will enable enterprises to access deep liquidity within markets and expedite the transition to cryptocurrency, according to the announcement. The system will feature smart order routing to source digital assets at optimal prices from market makers, exchanges and over-the-counter desks.

The California-based company said its Liquidity Hub will help simplify the process via a streamlined API that waives the pre-funding requirements typically needed to free up working capital.

Ripple Liquidity Hub will support bitcoin, Ethereum, Litecoin, Ethereum Class, Bitcoin Cash and XRP, with plans to add other crypto assets in the future, according to the announcement.

Since December, Ripple has been embroiled in a Securities and Exchange Commission (SEC) lawsuit related to allegations that it made more than $1 billion by selling XRP as an unregistered security, as PYMNTS reported.

Related news: XRP Prices up Despite Ongoing Ripple SEC Woes

In June, Ripple announced its intent to offer federated sidechains for the XRP Ledger to balance the needs of users seeking smart contract features with the blockchain company’s goal of keeping the XRP Ledger lean.

See also: Ripple Proposes New XRP Ledger Tools for Smart Contracts

SEC woes do not seem to be deterring Ripple’s advancements. RippleNet GM Asheesh Birla said the company is offering its new Liquidity Hub for 2022 and beyond in response to customer demand.

“We know full well the need for easy and efficient liquidity management. Crypto and financial institutions are embedded in our DNA,” Birla said. “It makes perfect sense that as they prepare for a crypto-first world, our customers would want access to the same trusted one-stop-shop for buying, selling and holding crypto assets that has powered our own extensive work with financial institutions.”

Coinme, a licensed bitcoin ATM company in the U.S., is the first partner for the alpha version of the Ripple Liquidity Hub, according to Ripple.