Ripple aims to release a solution for businesses that will enable customers to buy, sell and hold Bitcoin Cash (BCH), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ethereum Classic (ETC). This service will be called Liquidity Hub.
Ripple announces plans to launch Liquidity Hub in 2022
According to Ripple’s announcement, mainstream crypto requires the involvement of financial institutions. While there are many exchanges that support liquidity through consumer trading of digital assets, the real-world-crypto connection will be challenged without institutional involvement. With the increase in the number of projects that require users to use crypto, tokenized assets and transfer value, Ripple’s new solution is key to providing liquidity for institutions and businesses to provide seamless and affordable access to digital assets.
Ripple takes this as a “crypto first” approach and offers financial institutions a turnkey solution. Liquidity Hub will leverage smart order routing to source BTC, ETH, ETC, LTC and XRP from market makers, exchanges and OTC desks at optimized prices. The emphasis is on the “best possible prices” offered to customers on crypto platforms. The Liquidity Center overcomes the challenge of long and resource-heavy integrations and eliminates upfront financing requirements, freeing up working capital for the business. Asheesh Birla, Managing Director of RippleNet, said:
We are well aware of the need for easy and efficient liquidity management. Crypto and financial institutions are embedded in our DNA. Therefore, as we prepare for a crypto-first world, it makes sense for our clients to want the same reliable one-stop access to buy, sell and hold crypto assets, which strengthens our own comprehensive work with financial institutions.