Every cryptocurrency project tries to add new features and products to its network to make it more effective. These upgrades and developments are usually aimed at enhancing the working model of the network, and facilitating the users. Mainstream projects, like Bitcoin, Ethereum, Ripple, and Cardano have repeatedly made efforts to enhance their platforms according to more innovative features.
In a recent development, Ripple has announced plans for launching a new product that will allow institutional access to Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, and Ethereum Classic. It will also help in their liquidity for enterprises. The newly launched platform will be sourcing these digital assets from exchanges, market makers, and OTC desks.
Ripple plans to incorporate Liquidity Hub in 2022
The Liquidity Hub of Ripple is currently in the preview stage, and it will completely roll out in 2022. As Ripple announced its plans for the product, the company released a blog post to explain the new feature. The announcement said, ‘Ripple Liquidity Hub will uniquely solve for the specific pain points of enterprise customers, avoiding long and resource-heavy integrations through a streamlined API, and – unlike most other offerings – eliminating pre-funding requirements in order to free up working capital.’
As the number of cryptocurrency projects is increasing in the market they require users to leverage crypto and tokenized assets. This new product of Ripple will help organizations by offering liquidity, that too, in an affordable and power seamless manner. Ripple believes that they are the first ones in the crypto industry to look into this matter and offer a solution for financial institutions.
In addition to this, Ripple also emphasizes providing the best possible prices to consumers on cryptocurrency platforms. Therefore, the Liquidity Hub will solve the issue of long and heavy integrations, and it will also eliminate pre-funding complications. This will free up capital for the institution or the organization involved.
The Ripple Liquidity Hub service will utilize smart orders to source assets. For this, it has already collaborated with Coinme – a crypto payment company. Moreover, Ripple is also planning to add more features that support staking and yielding functions on the blockchain.
Ripple is still fighting a complicated court case against the United States Securities and Exchange Commission (SEC). It has resulted in a stagnant value of XRP for a very long time. However, the inclusion of these features can prompt more growth of the coin by triggering more interest from investors and enterprise clients. At the time of writing, XRP is valued at $1.31.