The financial technology company Ripple has thrown out Your liquidity solution for businesses to bridge the gap between cryptocurrencies and fiat money. Ripple’s liquidity center went live on April 13 after a successful pilot project last year.
The service works as a standalone solution, in addition to Ripple’s popular cross-border payment service called On-demand Liquidity (ODL). This makes it a global liquidity network that offers its partners access to payment lanes around the world.
The liquidity center has been developed from a business point of view to offer digital assets from various market makers, including crypto exchanges and over-the-counter trading desks. When a business partner needs liquidity, they can get it from these large deep liquid pools, including US dollars, Bitcoin (BTC), ether(ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH) and Litecoin (LTC).
Interestingly, in the product launch there is no mention of XRP (XRP), the crypto token issued by Ripple. XRP has been central to most of the liquidity products and services offered by the fintech firm, especially cross-border liquidity services. However, XRP was mentioned among the digital assets in the pilot phase of the company.
XRP’s omission from its liquidity peers could be attributed to the company’s ongoing US court battle with the Securities and Exchange Commission.
Ripple claimed that its liquidity solution would significantly reduce the cost of trading on high-volume transactions. This is achieved by optimizing cryptocurrency prices and liquidity between asset pairs.
The liquidity center eliminates the need to pre-fund equity positions to obtain liquidity or make transactions. The liquidity service reduces complicated cross-platform management requirements by allowing organizations to access digital assets in one place. The services also set optimal prices for digital assets in order to protect companies from market instability and price swings.
Ripple has made a name for itself in the fintech world for offering various liquidity solutions and cross-border remittance services. Its popular ODL solution has enabled several banks around the world to offer cheap remittance services with the help of cryptocurrencies.
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