In a blog post published on November 9, Ripple indicated that Liquidity Hub would initially support Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Cash, and XRP. In addition to plans to add more digital currencies, Ripple Liquidity Hub also intends to roll out staking and yield generating functionalities. According to Ripple, the Liquidity Hub aims to accelerate the shift to cryptocurrencies by offering a platform that supports the effective purchase of digital currencies. The Ripple Liquidity Hub will also deploy smart order routing to find digital assets at the best prices. Ripple’s On-Demand Liquidity platform is currently leveraging the technology. The company is also partnering with payment and crypto ATM company Coinme. It is worth noting that Coinme is working with Walmart to enable customers to buy Bitcoin at about 200 kiosks in the retailer’s stores.
Solving challenges faced by enterprise clients
Ripple believes that the Liquidity Hub will solve some of the pain points enterprise customers face in acquiring cryptocurrencies. It seeks to handle challenges like long and resource-heavy integrations through a streamlined API. Ripple is launching the new product as interest in cryptocurrencies continues to surge. Notably, institutional investors are leading the current rally of digital assets. Furthermore, the new product comes as Ripple continues to be embroiled in a legal tussle with the Securities Exchange Commission. SEC is suing Ripple for allegedly raising over $1.3 billion through an unregistered securities offering. Ripple is opposed to the suit stating that XRP should not be considered a security. [coinbase]
