Ripple to Launch Liquidity Service for Six Cryptocurrencies

Ripple to Launch Liquidity Service for Six Cryptocurrencies

San Francisco-based fintech firm Ripple will launch a product called the “Ripple Liquidity Hub” to give business customers access to the BTC, ETH, LTC, ETC and BCH cryptocurrencies from a range of global exchanges, market makers and over-the-counter desks. The product will also include XRP, Ripple’s native coin that it already offers with its existing services.

The Ripple Liquidity Hub will use smart order routing to find digital assets at the best prices, according to an announcement Tuesday. The first partner for the new service is Coinme, the payments and crypto ATM company that is now working with Walmart to allow customers to buy bitcoin at about 200 kiosks in Walmart stores.

Ripple plans to add features such as support for staking and yield generating functions and will explore getting liquidity from decentralized exchanges (DEXs), said Asheesh Birla, general manager RippleNet, a cross-border payments system. The Ripple Liquidity Hub will go live in early 2022, Birla told CoinDesk.