Fintech company Ripple has recently announced the launch of its Ripple Liquidity Hub in 2022.
The service, which is integrated with the On Demand Liquidity platform, will allow financial institutions to offer their clients the trading and storage of Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash and Ethereum Classic.
The Ripple Liquidity Hub will provide through the API the best prices from crypto exchanges, OTC platforms as well as market makers. The product will eliminate the need to distribute funds among multiple intermediaries.
According to RippleNet general manager Asheesh Birla, the service can be viewed as “an aggregator for liquidity providers and individual assets.”
In an interview with Decrypt, the top manager said a group of custodian partners would provide storage of cryptocurrencies. In the future, Ripple is ready to take on this functionality, providing another direction of revenue generation.
The launch of the Ripple Liquidity Hub will respond to requests from members of the On Demand Liquidity system. The first client of the service will be crypto ATM operator CoinMe.