Ripple has launched a new product called ‘Liquidity Hub’. This product aims to provide enterprises with access to crypto assets from various locations, including market makers, exchanges, OTC desks and in the future decentralized locations,” the company describes.
What is the Liquidity Hub?
Ripple announced Tuesday that it is launching a new product called “Ripple Liquidity Hub”. The announcement explains:
“The Ripple Liquidity Hub allows customers to seamlessly access crypto assets from a variety of global locations, including market makers, exchanges, OTC desks and, in the future, decentralized locations.”
Asheesh Birla, CEO of Ripple, explained that the new product should be “a one-stop shop for enterprises to buy ‘tokenized assets’.”
The Ripple Liquidity Hub is expected to launch in 2022. “The product supports out-of-the-box integration and smart order routing to buy digital assets at optimized prices, making it easy for customers to buy, sell and store crypto assets,” Ripple explains.
Initially, the platform will “support BTC, ETH, LTC, ETC, BCH and XRP (availability varies by country), with plans to expand to more crypto tokens. The company also noted that Ripple plans to add additional features such as staking support in the future.
Ripple continues to innovate despite lawsuit with SEC
In the announcement, Ripple describes that it has been using the Liquidity Hub internally for almost two years. This as part of his On-Demand Liquidity (ODL) product. Ripple’s first partner to use the product is Coinme.
“Initially, Coinme will use Liquidity Hub’s underlying technology platform, with plans to unlock additional functionality as it becomes available,” Ripple said.
The product launch announcement comes amid a legal battle with the US Securities and Exchange Commission (SEC). The regulator has sued Ripple Labs, its CEO Brad Garlinghouse and co-founder Christian Larsen for allegedly raising more than $1.3 billion through XRP, which the committee considers an unregistered security offering. But, despite the legal troubles, Ripple continues to innovate.