Liquidity Hub a solution for financial companies?
Rpple was launched with the idea of facilitating payments with cryptocurrencies and to enable fast and cheap transactions. It was intended as a solution for everyday payments or businesses, that is why the developers of ripple have been looking for partnerships with some major banks in the world, and although these partnerships are still in the testing phase or some banks do not fully use the services that ripple offers.
Therefore, the company has developed a tool that can go beyond just banks, as this new service wants to support financial companies, which will allow them to offer cryptocurrency trading to customers. Liquidity Hub is the name of the product and basically it is about giving you access to digital assets from a range of providers such as exchanges, market makers and over-the-counter trading desks.
This product will be available by 2022 and in its initial phase, Liquidity Hub will initially support Bitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash and XRP. But Rippl plans to offer support for more assets including NFTs. Ripple announced that the first business partner to help power this project is Coinme, the first bitcoin ATM company licensed in the United States.
Liquidity Hub It is important?
In today's world, the cryptocurrency sector is becoming more and more mainstream, but although there has been a large adoption, this adoption can be much more accelerated if financial companies also join in and start promoting cryptocurrency services. For mainstream cryptocurrency requires the commitment of financial institutions.
That is why Ripple has designed Liquidity Hub as an innovative symbiosis that integrates the crypto space with the financial aspect for wider adoption. By using Liquidity Hub, companies will easily and efficiently obtain digital assets from the cryptocurrency market. It will also unleash the potential of accessing deep liquidity within the markets, accelerating cryptocurrency adoption.
In conclusion, although institutional companies will always look for their own benefit, and will try to impose regulations like KYC or other types of requests for people to enjoy their services, the truth is that the intention behind it is very positive for the crypto space, as it will further generalize the adoption which will make the decentralized system reach more people, regardless if Liquidity Hub is a centralized service, people who finally integrate will see that having crypto directly in a wallet without a centralized intermediary is much better. But the future is bright and any steps to get there are welcome.
Posted Using LeoFinance Beta
