Ripple’s Liquidity Hub Goes International: New Opportunities for Crypto Traders

Posted on by Dorah Lilian
Estimated read time 5 min read
  • In a remarkable development, Ripple Labs has opened its Liquidity Hub to customers in Brazil and Australia.
  • John Deaton, a prominent attorney recognized for representing XRP holders in the ongoing legal battle between Ripple and the SEC, has expressed his intention to join the LBRY lawsuit

Ripple Labs, the pioneering fintech company behind the widely-used payments protocol, has extended its liquidity hub to welcome customers from Brazil and Australia. This strategic expansion aligns perfectly with Ripple’s ongoing efforts to enhance its platform’s features and functionalities.

Ripple Expands Liquidity Hub

After launching the Ripple Liquidity Hub in April, following its announcement in 2021, Ripple continues to shape the landscape of digital finance. This hub plays a crucial role in assisting financial institutions in providing crypto trading services, effectively bridging the divide between digital assets and traditional fiat currencies.waw

The Ripple Liquidity Hub is designed to encourage the wider acceptance of cryptocurrency assets by offering a comprehensive solution that allows businesses to effectively manage their liquidity requirements for multiple types of assets. Initially accessible in specific U.S. states, this hub utilizes an intelligent order routing system to obtain cryptocurrencies from various sources like exchanges, over-the-counter desks, and market makers.

Within Ripple’s liquidity pools, you can find a range of assets, including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Tether (USDT), and Litecoin (LTC). Notably, XRP is not currently available due to an ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC). Ripple plans to include support for XRP once the legal case is resolved and there is more regulatory clarity.

It’s important to highlight that the Ripple hub simplifies the process of accessing liquidity across multiple platforms by consolidating all major cryptocurrency pairs into a single venue. This eliminates the need for businesses to pre-fund capital positions, making it a convenient solution for managing multi-asset liquidity needs.

New Features and Functionality

In addition to making the liquidity hub available to users in Brazil and Australia, Ripple has introduced support for additional cryptocurrencies on the platform, and they have intentions to accommodate other tokens based on customer requests. The company has also implemented enhancements to the trading user interface and upgraded the service level agreements for processing crypto deposits to provide an improved customer experience across various user segments.

Ripple decided to expand its services to these new regions due to the strong existing relationships it has with other businesses in these areas. Additionally, there is a growing interest among local firms in adopting cryptocurrencies as a means to address their customers’ payment and liquidity requirements. This expansion aligns with Ripple’s commitment to meeting the evolving demands of its global user base.

“We’re excited about a number of new features coming soon, including a sandbox environment and added functionality to continue improving the experience for our customers,” Chase said.

A substantial sale of 30.7 million XRP tokens was executed from an undisclosed wallet, as reported by Whale Alert. This has attracted significant attention from investors who are closely monitoring the transaction’s potential impact on XRP’s price and overall market dynamics. However, it’s worth noting that XRP’s price experienced positive momentum on Friday, possibly driven by recent statements made by John E. Deaton.

John Deaton Plays for LBRY

John Deaton, a prominent attorney recognized for representing XRP holders in the ongoing legal battle between Ripple and the SEC, has taken a notable step. He formally expressed his intention to join the LBRY lawsuit as an Amicus Curiae in 2022. Furthermore, on September 14, he officially filed a Notice of Appearance on behalf of Amicus Curiae Naomi Brockwell in the LBRY case, reaffirming his unwavering commitment to remain actively involved throughout the legal proceedings, regardless of the eventual outcome. This move has garnered attention and may have contributed to boosting traders’ confidence in XRP.

Responding to a post by James K. Filan on a certain platform, where Filan had noted Deaton’s submission of the Notice of Appearance, Deaton expressed his unwavering commitment to the cause, regardless of the eventual outcome.

In 2022, LBRY found itself entangled in legal troubles, as the SEC accused the platform of violating securities laws by selling their native LBC tokens. LBRY contested these allegations but, unfortunately, faced a legal setback in July 2023.

Consequently, LBRY was mandated to permanently cease all activities related to securities law breaches and unregistered cryptocurrency securities offerings, which ultimately led to LBRY’s decision to close its operations.

For context, back in 2022, attorneys Bill Gannon and John Deaton submitted a document on behalf of tech journalist Naomi Brockwell, outlining her stake in the case. Brockwell disclosed that she had earned LBC cryptocurrency through tips, viewer purchases, and rewards, emphasizing that she had not converted her LBC tokens into cash and still held ownership of them.

XRP’s Price Display

Investors are diligently monitoring cryptocurrency price movements in a highly volatile market. In a recent development, Whale Alert has reported the transfer of 30.7 million XRP, valued at $15,037,735, from an undisclosed wallet to the Bitstamp exchange.

Although news of such a substantial XRP transfer initially unsettled some traders, the XRP cryptocurrency exhibited stability throughout Friday. At the time of writing, XRP’s price had risen by 0.84% to $0.5015, with its 24-hour trading volume at $753,156,116.

Avatar for Dorah Lilian
Dorah Lilian

You May Also Like

More From Author