Ripple to unveil ‘Liquidity Hub’ for finance companies, plans DeFi offering » BitcoinerX
![](https://cryptonewswire.org/wp-content/uploads/2021/11/maxresdefault-2021-11-11T161555.368.jpg)
Ripple, a fintech firm, has unveiled a new tool for financial institutions that will enable them to offer bitcoin trading to their consumers.
In a blog post published Tuesday, the San Francisco-based fintech startup announced the Liquidity Hub service, promoting a “crypto-first future” in which every organization will need a crypto-asset strategy.
The new service will cater to the company’s business clients, providing them with access to digital assets from a variety of sources, including exchanges, market makers, and over-the-counter trading desks. It is presently under preview and will be released next year.
NFTs soon
According to the release, Liquidity Hub will initially offer Bitcoin (BTC), Ether (ETH), Ethereum Classic (ETC), Litecoin (LTC), Bitcoin Cash (BCH), and XRP, with availability varied by geographic area.
In the future, the company wants to expand its crypto-asset offerings to include other tokens, such as nonfungible tokens, or NFTs.
Asheesh Birla, RippleNet’s general manager, said the company has been employing this crypto sourcing technology for nearly two years to support its On-Demand Liquidity offering.
“Our consumers would like access to the same trusted one-stop shop for buying, selling, and keeping crypto assets that we’ve used in our extensive engagement with financial institutions,” Birla added.
Coinme, America’s first licensed Bitcoin ATM startup, is the alpha version of Liquidity Hub’s initial partner.
Ripple is also expanding its Decentralized Finance (DeFi) offerings, announcing plans to provide crypto staking and investment services. After purchasing and holding Ether, Birla believes it is only natural for customers to desire the next generation of services.
Legal dispute with SEC
Ripple will offer wrapped XRP (wXRP) on the Ethereum network, according to Cointelegraph, allowing holders of its native coin to connect with DeFi protocols.
Ripple is still locked in a legal dispute with the Securities and Exchange Commission of the United States.
Magistrate Judge Sarah Netburn, in the latest twist in the affair, has ordered the corporation to locate and produce video and audio recordings of internal meetings as evidence in the case.
Ripple and its executives are being sued by the Financial Industry Regulatory Authority (FINRA) for allegedly generating more than $1.3 billion through an unregistered securities sale.
Image courtesy of Cointelegraph News/YouTube