Ripple Launches Liquidity Hub for Businesses With No Mention of XRP

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. 

Seamlessly bridge traditional fiat systems with the new world of crypto.

Find out how your business can unlock immediate, real-world value through crypto and blockchain with Ripple Liquidity Hub. https://t.co/SIsLDnXF4I pic.twitter.com/xlmeW2l7eA

— Ripple (@Ripple) April 14, 2023

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.

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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.

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.

After the pilot, #Ripple‘s Liquidity Hub is now live. Key quote; “It functions as a standalone solution or an extension of our cross-border payments solution which leverages our global network to provide partners access to payout rails worldwide.” https://t.co/11QX8opwQ4

— WrathofKahneman (@WKahneman) April 14, 2023

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,”

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.

No, from the beginning Ripple has been clear LH doesn’t use XRP. I thought initially, given the ambiguity of the p/r it might connect with ODL, but there is not really any hard data it even connects with RippleNet at this point. In fact, they call it standalone.

— WrathofKahneman (@WKahneman) April 14, 2023

Crypto Eri also pointed out the absence of XRP.

The @Ripple Liquidity Hub includes
BTC, LTC, BCH, ETC, LTC.
(XRP is not in the dashboard).
“At its core, it (the HUB) allows for seamless BRIDGING between traditional FIAT (currently USD) and CRYPTO assets. The purpose is to “remove pre-funded capital positions.”

“Via a… pic.twitter.com/y1N2nurkl0

— 🌸Crypto Eri 220k+ Followers (Beware of Imposters) (@sentosumosaba) April 14, 2023

It’s important to mention that back in November, 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.

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• Source: https://thecryptobasic.com/2023/04/14/ripple-launches-liquidity-hub-now-live-for-businesses/?utm_source=rss&utm_medium=rss&utm_campaign=ripple-launches-liquidity-hub-now-live-for-businesses