Ripple, a blockchain technology firm, has unveiled its latest product, the Ripple Liquidity Hub, to assist businesses with their cryptocurrency liquidity requirements.
According to the company, the new system is available to help companies manage their cryptocurrency liquidity needs easily and efficiently.
The firm launched the system as a pilot in 2022 and has now released a fully operational version to the public.
Ripple’s Liquidity Hub is designed to prepare for a “multi-asset reality,” which will enable corporate users to access liquidity across a variety of assets, including cryptocurrencies, non-fungible tokens (NFTs), and central bank digital currencies (CBDCs).
Ripple’s Liquidity Hub will serve as a standalone solution or an extension of the company’s cross-border payments solution, and will enable movements into and out of various assets. Furthermore, the system will aid in enhancing transparency, facilitating treasury functions, and on- and off-ramps between crypto and fiat.
The firm stated that Smart order routing will be used to source crypto assets from a variety of liquidity venues such as exchanges, market makers, and over-the-counter (OTC) desks. It will also act as a bridge between crypto liquidity sources and fiat for businesses.
Brad Chase, Head of Liquidity Products at Ripple, said the new system “combines ease of use, powerful payment integrations, cost savings, and more into a single, scalable enterprise-grade platform.”
By leveraging Ripple’s Liquidity Hub, enterprises will be able to benefit from its features such as deep pools of liquidity between asset pairs or a cryptocurrency asset to bridge lesser pools, which will enable them to manage their crypto liquidity needs more efficiently.
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