Ripple and Uphold have joined forces to enhance the infrastructure of their cross-border cryptocurrency payments. Uphold is all set to help Ripple with improved “crypto liquidity capabilities.”
For your information, Ripple currently offers services in more than 55 countries, accompanied by payout capabilities in over 70 markets, as per the company, adding that it has actually processed 30 billion dollars worth of volume as well as 20 million transactions.
Ripple And Uphold Join Forces:
On Tuesday, Ripple announced that it has started a brand-new partnership with a platform called Uphold. Uphold is a multi-asset platform operating in more than 184 countries. This digital currency platform provides access to more than 200 crypto as well as fiat currencies.
As per the announcement, “The partnership will see Uphold provide Ripple with enhanced crypto liquidity capabilities to underpin and enhance its cross-border payments infrastructure.”
Simon McLoughlin, the CEO of Uphold, said that the platform of his company “features a fully automated, high-frequency trading stack” which happens to be connected to thirty underlying trading venues. According to him, this allows Uphold to provide “offer deep liquidity, multiple execution paths for transactions, and exceptionally tight spreads.”
Pegah Soltani, the head of payments at Ripple, commented, “Our new partnership with Uphold enables us to enhance our underlying infrastructure, and Uphold’s deep liquidity expertise further underpins Ripple’s ability to offer fast and flexible cross-border payments around the world.”
Ripple’s solutions typically emphasize three areas:
- Crypto liquidity,
- CBDC (Central Bank Digital Currency) and
- Cross-border payments.
Ripple’s solutions focus on three areas: cross-border payments, crypto liquidity, and central bank digital currency (CBDC).
The announcement details of the firm included, “Today, Ripple serves hundreds of customers in over 55 countries and 6 continents, with payout capabilities in more than 70 markets, and has processed $30 billion worth of volume and 20 million transactions since its payments solution was first launched.”
Ripple’s Recent Victory:
Recently, the crypto firm celebrated its win against the SEC (Securities and Exchange Commission) of the United States. Last week, the regulator of securities sent a lawsuit against Chris Larsen, co-founder, and Brad Garlinghouse, CEO of Ripple.
On 13th July, Analisa Torres, District Judge, ruled partially in Ripple’s favor regarding XRP. However, the SEC sought an appeal, but the regulator’s bid for the interlocutory appeal was rejected by Judge Torres.