Ripple CEO Brad Garlinghouse spoke at TechCrunch Disrupt SF 2018 Day 1.
Steve Jennings | Getty Images for TechCrunch
Ripple, a Fintech startup, announced on Tuesday that it has introduced a new product that will enable financial services companies to offer their customers the ability to buy and sell cryptocurrencies.
The San Francisco-based Liquidity Hub feature allows its customers to access digital assets from marketers, exchanges and free trading tables from a variety of sources.
Customers, including customers, can trade in secret currencies. bitcoin, Eritrea, litecoin, ethereum classic, bitcoin cash And XRP, Said Ripple. The company hopes to offer features such as NFTs or other digital assets Invincible tokens, in the future. The feature is currently in the preview stage but will be launched in 2022, Ripple said.
A.D. Founded in 2012, Ripple is closely linked to cryptocurrency XRP. The company sells XRP to financial institutions as a “bridge” to accelerate international payments on demand.
With nearly $ 60 billion in tokens being distributed, XRP is the seventh largest digital currency in the world, according to CoinMarketCap.
Ripple also sells RippleNet, a financial messaging service used by banks and other financial institutions to send money across borders. Ripple offers Swift International Interbank Payment Network as a competitor.
Ripple logged in. Hot water With US Securities and Exchange Commission on XRP. He is the controller. Sue the company And executives Brad Garlinghouse and Chris Larson have filed a lawsuit alleging unsolicited bail, raising more than $ 1.3 billion. Ripple is fighting addiction, XRP should not be considered safe.
At a time when the demand for cryptocurrencies was soaring, the company was jumping into a new product category. Bitcoin and ether – the first and second-largest secret currencies in order – Both set a record this week. In the midst of a wide march in the crypto market.
RishpleNet general manager Ashish Birla said the company’s new tool can be considered as a “collector of various liquid areas and individual assets.” Google Flights are for airlines and for flights. “
The product is about two years into operation, Birla said. The first customer to use the Ripple service is Coinme, a Bitcoin exchange and an ATM operator in the US.
“We have a long history of working with financial institutions, crypto exchanges, brokers and marketers, which our enterprise clients can use directly,” Bila told CNBC. “We plan to support different assets and plan to expand to different assets as NFTs in the future.”
Ripple said it will provide credit lines to its financial partners through XRP to prevent early payments to Liquidity Hub accounts.
“Companies that do this today have to stop working capital while waiting to deposit their money in bank accounts from weekend activities,” she said. “We started offering this as part of ODL and it is our behavior that we really want.”
last one Personal value $ 10 billion, Ripple is one of the world’s largest crypto startups. According to Andresen Horoitz, a Japanese financial services company is a favorite. SBI Holdings And the Bank of Spain Santander As investors.
However, the instability in the US was a big wind for the company. Still, Ripple said it was seeing increasing pressure in other markets such as Japan and the United Kingdom, with GDP growing 25 times higher in the third quarter of 2020.
“Even though there is a head-to-head with the SEC in the United States, our international engagement with clients has not diminished,” Bila said.