Ripple is making headlines again today with the latest news. The online publication, the Daily Hodl, noted that Ripple Labs sees a future flooded with crypto, and they are working on a new product that is allowing traditional financial institutions to offer crypto services to customers.
In a new press release, Ripple announced their newest product called the Ripple Liquidity Hub.
“[It is] a groundbreaking new way for enterprises to easily and efficiently source digital assets from the broader crypto market. As a crypto liquidity platform built for the enterprise, it will unleash the potential to access deep liquidity within markets, accelerating the shift to crypto.”
RippleNET GM Asheesh Birla said the following:
“Customers are coming to banks asking, ‘How can we buy Bitcoin [BTC] or digital assets?’ This is a solution that enables banking customers to do that.”
The press release goes on to say,
“While the XRP Ledger and XRP are and will remain a native part of our tech stack, we at Ripple believe that achieving interoperability is key to unlocking crypto’s true potential.”
The same notes also revealed that Ripple Liquidity Hub would initially support BTC, ETH [Ethereum], LTC [Litecoin], ETC [Ethereum Classic], BCH [Bitcoin Cash], and XRP. Of course, the plans are to add additional digital assets over time.
In the future, “Ripple plans to add functionality such as staking and yield-generating functionalities.”
Ripple enters NFT market
Ripple gambles big on non-fungible tokens by beginning a $250 million fund dedicated to the latest cryptocurrency rage. Brands, artists, agencies, and marketplaces can appeal for funding to experiment with NFTs on the XRP Ledger.
Ripple’s Creator Fund aims to facilitate longtail tokenization use cases, such as interactive experiences and fractional ownership, by providing technical and creative support to a diverse range of artists, marketplaces, brands, and creators.
Stay tuned for more news.