Ripple To Launch Liquidity Hub With Bitcoin, Ethereum, Plans DeFi Offering

San Francisco-based fintech startup Ripple Tuesday announced the launch of a new service, Ripple Liquidity Hub. 

It will allow its clients to buy and sell Bitcoin BTC/USD, Ethereum ETH/USD, XRP, Litecoin LTC and Bitcoin Cash BCH. 

Ripple also aims to offer NFTs in the coming year. According to Ripple, the feature is in the beta version but is set to launch in 2022. 

Today, it also announced that it plans to offer crypto staking and investment services and other products associated with DeFi.

The company is going to rope in Coinme as its first partner for the new service. 

It is also exploring getting liquidity from decentralized exchanges (DEXs). 

“We had a lot of expertise in connecting our customers that wanted to move money across borders by leveraging crypto exchanges,” said Asheesh Birla, general manager at RippleNet. 

“Then we started hearing from our customers, saying, ‘Hey, we were buying cross-border payment liquidity from you; can we also buy crypto liquidity in terms of the ability to buy bitcoin and ether and other assets for our customers?’” Birla added. 

Ripple markets XRP to financial firms, helping them in providing international payments with on-demand liquidity products. 

According to CoinMarketCap data, XRP is the seventh-biggest digital currency globally, with close to $60 billion worth of tokens in circulation. 
Photo: Ripple website.