TechBookyBusiness
No Result
View All Result
Thursday, July 7, 2022
  • Login
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us
Subscribe
TechBooky Business
No Result
View All Result
Home Cryptocurrency

Ripple will launch crypto service for financial firms even with ongoing battle with SEC

Ibhadojemu Lucky Emmanuel by Ibhadojemu Lucky Emmanuel
November 9, 2021
in Cryptocurrency, Service
Share on FacebookShare on Twitter

On Tuesday, Ripple announce that it’ll be launching a new product focused on companies that offer financial services. According to Ripple, the new product it will be launching will let these financial companies offer their customers a platform and/or a platform to buy and sell cryptocurrencies.

The company said the feature is called Liquidity Hub and will provide its client companies access to various digital assets from a variety of sources; from market makers, to exchange platforms, trading desks, etc. With the product, Ripple’s clients will be able to provide trading of cryptocurrencies such as Bitcoin, Ethereum, XRP, etc. The company plans to extend this product to NFTs also in the long run as NFTs are continually making waves and the booming sector has a lot of prospective. The company said that the feature is still currently in its preview stage but will launch in 2022. “We have a long history of working with financial institutions, crypto exchanges, brokerages and market makers, which our enterprise customers can now directly benefit from. We’re planning to support a variety of assets and have plans to expand to more tokenized assets like NFTs in the future”, Asheesh Birla, the General Manager of RippleNet said.

Headquartered in San Francisco, the startup came into existence in 2012. It is the owner of its network’s cryptocurrency called XRP. Currently, there is almost $60 billion worth of XRP tokens in circulation and XRP is the world’s seventh-largest cryptocurrency, according to data from CoinMarketCap. Apart from its XRP, which it promotes for seamless and convenient payments, the company also operates a platform it calls RippleNet. RippleNet is a financial messaging service used by financial institutions to make cross-border settlements.

Ripple is announcing its new product amid kerfuffles with the US Securities and Exchange Commission (SEC). The company, alongside its executives Chris Larsen and Brad Garlinghouse are being sued for raising over $1.3 billion through an unregistered securities offering. The company is, however, playing defence and says that XRP should not be considered as a security.

Irrespective of the fact that it is in a battle with the SEC, this might actually be a good time for the company to announce its new product. Cryptocurrencies Bitcoin and Ethereum have been rallying strong since this week began. Ethereum hit a new all-time high of $4,700 on Monday and went on to surpass this milestone on Tuesday after hitting a new all-time high of $4,800. Bitcoin also hit a new all-time high of more than $68,000 on Tuesday. There are high hopes for the aforementioned cryptocurrencies as adoption rates continue to rise and big names continue to associate with them.

According to Asheesh Birla, the General Manager of RippleNet, the company new product can be seen as an “aggregator for various liquidity venues and individual assets, the way that Google Flights is for airlines and flights”. The General Manager also revealed that the product has been in development for the past two years. Ripple mentioned that the first customer to use the new product is Coinme, a Bitcoin exchange and ATM operator based in the US.

Speaking about the company’s battle with the SEC, Asheesh Birla said that “despite headwinds in the U.S. with the SEC, our traction with customers globally hasn’t slowed down”.

Total
4
Shares
Share 4
Tweet 0
Pin it 0
Share 0

Related Posts:

  • Ripple Surges 150% In 7 Days, Becomes Part Of Top 5 Cryptocurrencies With The Most Value
    Ripple Surges 150% In 7 Days, Becomes Part Of Top 5…
  • South Asian Country Bhutan Partners With Ripple For A Central Bank Digital Currency
    South Asian Country Bhutan Partners With Ripple For A…
  • XRP Rose By 15% As Ripple Moves To Wyoming
    XRP Rose By 15% As Ripple Moves To Wyoming
  • Blockchain Firm Ripple Announces  $44 Million Clean Energy Fund Investment With Nelnet
    Blockchain Firm Ripple Announces $44 Million Clean Energy…
  • The French Central Bank Is Considering Ripple's (XRP) Platform For Digital Euro
    The French Central Bank Is Considering Ripple's (XRP)…
  • Saudia Arabia’s Central Bank Signs Blockchain Deal With US-based Ripple
    Saudia Arabia’s Central Bank Signs Blockchain Deal With…
  • Here Are Top 5 Cryptocurrencies Worth Your Investment In 2021
    Here Are Top 5 Cryptocurrencies Worth Your Investment In…
  • Visa Is Launching Consulting And Advisory Services To Provide Support And Assistance Its Clients Meander The World Of Crypto
    Visa Is Launching Consulting And Advisory Services To…
Tags: cryptocurrencyLiquidity Hubrippleservicexrp
Previous Post

Bitcoin Hits A New All-time High Of More Than $68,000, Ethereum Wasn’t Left Out Of The Extended Rally

Next Post

Software Company Collibra, Microsoft’s Rival Doubles Its Valuation To $5.25 Billion

Next Post
Software Company Collibra, Microsoft’s Rival Doubles Its Valuation To $5.25 Billion

Software Company Collibra, Microsoft's Rival Doubles Its Valuation To $5.25 Billion

No Result
View All Result

Get top tech business news in your inbox

subscription from
Loading

Crypto Price List

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
  • TadpoleTadpole(TAD)
    $7.32-1.74%
  • SEENSEEN(SEEN)
    $2.05-2.27%
  • EvedoEvedo(EVED)
    $0.082301-0.80%
  • MarginswapMarginswap(MFI)
    $0.184213-2.11%
  • SakeTokenSakeToken(SAKE)
    $0.0127135.28%
  • WTF TokenWTF Token(WTF)
    $0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)
    $0.005461-5.83%
  • RobotinaRobotina(ROX)
    $0.00266138.50%
  • CageCage(C4G3)
    $0.005010-3.67%
  • YAM v2YAM v2(YAMV2)
    $4.70-1.41%

Recent Posts

  • Nigeria’s AutoChek Makes A New Acquisition In Francophone-focused Classified Ad Marketplace CoinAfrique
  • South African Crypto-focused Company H20 Water Securities Secures $150 Million Funding Via The Sale Of Its H20N Token
  • Financial Inclusion In Nigeria Grew To 45 Percent In 2021 – World Bank
  • Meta Is Shutting Its Novi Digital Wallet By September 1st
  • Crypto Is The Answer To Financial Inclusion, Central African Republic’s President Says Amid Huge Aversion For Its Adoption Of Bitcoin

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Get top tech business news in your inbox

subscription from
Loading

Popular Tags

Acquisition africa amazon apple bitcoin cbn china coinbase company crypto cryptocurrency e-commerce earnings earnings season elon musk facebook fintech Funding gadget google government india internet Investment ipo kenya microsoft money netflix nigeria payment payments Q1 revenue russia service shares social media Startup Stock tech tesla twitter Ukraine whatsapp

Calendar

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Recent News

  • Nigeria’s AutoChek Makes A New Acquisition In Francophone-focused Classified Ad Marketplace CoinAfrique
  • South African Crypto-focused Company H20 Water Securities Secures $150 Million Funding Via The Sale Of Its H20N Token
  • Financial Inclusion In Nigeria Grew To 45 Percent In 2021 – World Bank
  • Meta Is Shutting Its Novi Digital Wallet By September 1st
  • Crypto Is The Answer To Financial Inclusion, Central African Republic’s President Says Amid Huge Aversion For Its Adoption Of Bitcoin
  • Popular Bitcoin Family Reveals They’ve Had Bitcoin Losses Of Up To $1 Million This Year

© 2021 Techbooky Business - Design by Techbookyelite.

No Result
View All Result
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us

© 2021 Techbooky Business - Design by Techbookyelite.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$20,804.002.98%
  • ethereumEthereum(ETH)$1,216.826.76%
  • tetherTether(USDT)$1.00-0.21%
  • usd-coinUSD Coin(USDC)$1.00-0.07%
  • binancecoinBNB(BNB)$240.171.18%
  • Binance USDBinance USD(BUSD)$1.010.09%
  • rippleXRP(XRP)$0.3343253.38%
  • cardanoCardano(ADA)$0.4704812.76%
  • SolanaSolana(SOL)$38.155.69%
  • dogecoinDogecoin(DOGE)$0.0704804.48%
  • polkadotPolkadot(DOT)$7.102.43%
  • Shiba InuShiba Inu(SHIB)$0.0000112.87%
  • AvalancheAvalanche(AVAX)$19.868.21%
  • matic-networkPolygon(MATIC)$0.555.36%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000071-5.36%
Posting....