XRP continued to be at the crosshairs of the SEC but that has not deterred the blockchain firm Ripple to include the crypto in its new program.
The US-based fintech firm recently announced a new product category dubbed Liquidity Hub that would empower financial service providers to enable their customers in crypto asset trading without any hassle. Revealing more on the blog post, Ripple said that customers would be able to trade in a wide catalog of cryptocurrencies including XRP, Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], Ethereum Classic [ETC], Bitcoin Cash [BXC], etc.
Besides, the payment settlement firm also plans to include other crypto assets like non-fungible tokens [NFT], in the future. Currently, the new program is in the stage of development and is slated to be launched in 2022. The newly added program would also offer their clients better accessibility from a wide range of market options such as Exchanges, Over-the-counter desks [OTC], market makers, etc.
The latest announcement assumes significance against the backdrop of surging prices of cryptocurrencies in the broader market ecosystem. The world’s two most dominant crypto assets, Bitcoin and Ether continued to record new all-time highs amid an upward rally in the overall cryptocurrency market.
Ashish Birla, General Manager of the firm said that the newly launched product would act like an ‘aggregator for various liquidity venues and individual assets, the way that Google Flights is for airlines and flights.’ Speaking further on the occasion, Birla said,
“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.”
XRP’s ongoing tussle with SEC
Ripple has been currently embroiled in an ongoing dispute with the United States regulator Securities and Exchange Commission [SEC]. In the latest turn of events, Magistrate Judge Sarah Netburn has officially ordered the blockchain service provider to ‘find and produce both video and audio recordings of its internal meetings for evidence in the case.’
The Financial agency is prosecuting Ripple along with co-founder Christian Larsen and Chiel Exec Bradley Garlinghouse for allegedly raising funds through sales of more than $1.3 billion worth of XRP tokens and deemed them as unregistered securities offerings.