Ripple, the company behind the XRP cryptocurrency, has announced that it will open up its Liquidity Hub service to two new markets: Brazil and Australia. The Liquidity Hub is a platform that allows financial institutions and enterprises to access crypto assets from various sources, such as exchanges, market makers, and over-the-counter (OTC) desks.
The service aims to provide customers with the best prices and execution for their crypto needs. According to Ripple, the Liquidity Hub will support XRP, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash at launch, with plans to add more assets in the future.
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The company claims that XRP is the most efficient bridge currency for cross-border payments, as it offers fast settlement, low fees, and scalability. Ripple also says that XRP can help reduce the pre-funding costs and risks associated with traditional payment methods.
Ripple has chosen Brazil and Australia as the first two markets for its Liquidity Hub expansion, citing their growing demand for crypto and innovation. The company has partnered with local crypto platforms Bitso in Brazil and BTC Markets in Australia to provide access to their liquidity pools.
Ripple has announced that its Liquidity Hub is now accessible in 35 states across the United States, including notable locations such as California, Pennsylvania, Georgia, Michigan, Arizona, and Colorado. Furthermore, Ripple has expressed its intention to continue expanding the reach of Liquidity Hub
Ripple says that these partnerships will enable its customers to benefit from the competitive and transparent pricing of these platforms. Ripple’s Liquidity Hub is part of its broader vision to create an Internet of Value, where money can move as easily as information.
The company believes that crypto can play a key role in transforming the global financial system and unlocking new opportunities for businesses and consumers. By offering a convenient and secure way to access crypto liquidity, Ripple hopes to accelerate the adoption and innovation of digital assets around the world.