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The hub gives firms access to various liquidity pools and advanced trading features, including post-trade settlement through a single API.
Ripple Labs has announced that its Liquidity Hub has expanded to Australia and Brazil, giving local businesses a way to manage their crypto liquidity. Crypto-focused businesses in the region will now have access to a “streamlined” way to buy, sell, and hold digital assets.
“Liquidity Hub was developed to solve a core internal problem in Ripple’s payments solution. As we continued to see more growth and scale of our solution, managing liquidity efficiently across geographies became more complex,” wrote Ripple’s Head of Liquidity Products Brad Chase in a Thursday blog post. He adds that the company “later saw that there was an opportunity to externalize this service for others that need a digital asset platform to access and manage crypto liquidity to meet the needs of their customers.”
The service targets crypto-focused businesses such as NFT marketplaces, crypto ATMs, point-of-sale merchants, or those hoping to incorporate crypto for faster and more efficient payments. The hub gives firms access to various liquidity pools and advanced trading features, including post-trade settlement through a single API. Liquidity Hub was already available in 35 US states including California, Pennsylvania, Georgia, Michigan, Arizona, and Colorado, making Brazil and Australia the first regions outside the US to be granted access to the service.
“Ripple has strong connections to these regions from our existing businesses, and have found innovative firms that are looking to adopt crypto to meet their end customer’s payments and liquidity needs,” the company said in an email to The Block. “Liquidity Hub provides them a one-stop solution versus patchwork strategies these firms deploy to tap into crypto liquidity today.”
Ripple also announced the company has been adding new features to the platform since its launch aimed at streamlining operations for customers such as NFT marketplaces, crypto ATMs, and brokers. The features include backend updates to improve the customer experience, additional trading UI features, and improved SLAs for crypto deposit processing. The company revealed that it plans to introduce new features such as a sandbox and added functionality to continue improving its customer experience.