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HomeCrypto NewsMarketRipple Liquidity Hub Now Live for Businesses With No Mention of XRP

Ripple Liquidity Hub Now Live for Businesses With No Mention of XRP

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According to Ripple, the platform will support an array of digital assets, including BTC, ETH, ETC, BCH, and LTC.

Ripple, the prominent FinTech firm behind XRP, has launched its Liquidity Hub solution, an innovative service designed for businesses. This cutting-edge solution gives businesses access to liquidity for digital assets drawn from various top exchanges, market makers, and over-the-counter desks worldwide.

Ripple announced the launch after piloting the product last year. The Liquidity Hub is a fully integrated and comprehensive solution that aims to aid businesses in sourcing and managing liquidity across various platforms. 

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The service uses advanced technology to find the best rates for digital assets and allows businesses to access liquidity without needing to keep a lot of capital on hand. This reduces the amount of money businesses have tied up and makes it easier for them to use their resources efficiently.

Ripple’s new service also gives corporations access to a big network of payout channels worldwide, making it easier and faster to carry out operations like managing digital currency transactions and keeping track of funds. The service is available round the clock.

Liquidity Hub’s success is predicated upon its interoperability and vast reservoirs of liquidity across asset pairs. It is also important to find the best prices and liquidity from different places and allow businesses to reduce expenses on high-volume transactions such as treasury management.

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The Ripple Liquidity Hub was made to fix the problems that can come up when connecting digital currencies and fiat currencies. It has an easy-to-use dashboard and a simple way to connect to different platforms, so businesses can manage and get liquidity without complicated setups.

XRP’s Absence Raises Questions

As per the recent announcement, the platform currently supports BTC, ETH, LTC, ETC, and BCH, with no explicit reference to XRP, leading to queries within the XRP community. Ripple disclosed that the Liquidity Hub could operate as an autonomous product or part of its cross-border payment system. WrathofKahneman, a notable member of the XRP community, pointed this out.

 

Another XRP community member remarked:

“The connection to XRP is less evident than I had hoped. For context, there is literally no mention of XRP or XRPL in any technical sense. One may only hypothesize as to why, given that Ripple no longer openly mentions XRP except in the context of ODL,”

Crypto Eri also pointed out the absence of XRP.

WrathofKahneman further clarified that Ripple had noted that the product does not leverage XRP. He disclosed that he had anticipated it would be associated with Ripple’s ODL solution, but due to the ambiguous information available, it remains uncertain if it will even leverage RippleNet.

 

It’s important to mention that back in November 2021, Ripple announced that the Liquidity Hub would support six assets upon launch, including XRP. However, the company mentioned that the selection of assets available to businesses would depend on their location and that more assets would be added to the platform in the future.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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