Amid an ongoing lawsuit with the US Securities and Exchange Commission (SEC) over XRP, Ripple is launching a new product, the Liquidity Hub, which aims to be a “one-stop shop for institutions for any tokenized asset.” The company explained that the product “will allow customers to seamlessly access crypto assets from a variety of global venues, including market makers, exchanges, OTC offices, and in future decentralized places.”
Ripple Liquidity Hub allows customers to seamlessly access crypto assets from a variety of global locations
On Tuesday, Ripple announced the launch of a new product called the “Ripple Liquidity Hub”. The ad states:
The Ripple Liquidity Hub will allow customers to seamlessly access crypto assets from a variety of global venues, including market makers, exchanges, OTC desks and, in the future, decentralized locations.
Asheesh Birla, General Manager at Ripple, explained that the new product aims to be a “one-stop shop for enterprises to acquire any token asset.”
The Ripple Liquidity Hub is expected to launch in 2022. “The product will support turnkey integration and intelligent order routing of the digital asset issuer at an optimized price, giving customers the ability to easily buy, sell and hold crypto assets,” Ripple explained.
Initially, the platform will support BTC, ETH, LTC, ETC, BCH and XRP (availability will vary by geographic region), with plans to expand to more token assets, the company added, noting that “in the future Ripple plans to add additional features such as support for caching and yield generation functions”.
The announcement notes that Ripple has been using the Liquidity Hub internally for nearly two years to “manage internal liquidity as part of its On Demand Liquidity (ODL) product, powering millions of transactions worth billions of dollars.”
The first Ripple partner to use the product is the cryptocurrency network Coinme. “Initially, Coinme will use the Liquidity Hub’s core technology platform, with plans to unlock additional functionality as it becomes available,” Ripple explained in detail.
The announcement of the launch of this product came as Ripple continues its legal battle with the US Securities and Exchange Commission (SEC). The securities regulator is suing Ripple Labs, its CEO Brad Garlinghouse, and co-founder Christian Larsen for allegedly raising more than $1.3 billion through XRP that the commission considers an unregistered security offering. Ripple and its executives are fighting a lawsuit, insisting that XRP is not a guarantee.
What do you think about Ripple launching a liquidity center amid an ongoing lawsuit with the Securities and Exchange Commission? Let us know in the comments section below.
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