BREAKING: Ripple And Uphold Team Up!• October 24, 2023 1:49 pm • Comments
Ripple Labs continues to expand its footprint in the world of blockchain.
The prominent crypto firm recently teamed up with Uphold, a popular custodial wallet and centralized exchange, in an effort to enhance Ripple’s liquidity processing and efficiency. On Tuesday, Ripple Labs announced:
“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. We see this as the start of our relationship and are excited about what the future holds.”
“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. We see this as the start of our relationship and are… https://t.co/1hZ1qhRtoW
— Ripple (@Ripple) October 24, 2023
Ripple issued this accompanying press release on Tuesday, October 24:
Ripple, the leader in enterprise blockchain and crypto solutions, has announced a new partnership with Uphold, the global Web3 financial platform.
The partnership will see Uphold provide Ripple with enhanced crypto liquidity capabilities to underpin and enhance its cross-border payments infrastructure.
Best known for its flagship payments products, Ripple’s blockchain and crypto enterprise solutions help customers globally to accelerate their business performance and scale by removing the need to pre-fund accounts around the world and freeing up trapped capital.
With over 10 years of building blockchain solutions for finance, Ripple is transforming payments with its crypto-enabled enterprise solution that provides the ability to send payments 24/7/365 and near real-time settlement.
Pegah Soltani, Head of Payments Product, at Ripple, said: “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.
We see this as the start of our relationship and are excited about what the future holds.”
As a leading Web3 financial platform, Uphold’s superior trading architecture makes it easy to move value between fiat and crypto and across networks.
Uphold is able to provide access from a wide range of crypto liquidity venues globally enabling businesses to seamlessly serve customers and deliver payments.
“Ripple provides a tremendously valuable service to businesses making cross-border payments and we are thrilled to be an essential part of it,” said Simon McLoughlin, Chief Executive Officer at Uphold.
“The Uphold platform features a fully-automated, high-frequency trading stack connected to 30 underlying trading venues allowing us to offer deep liquidity, multiple execution paths for transactions, and exceptionally tight spreads.
“Our partnership with Ripple illustrates how the unique capabilities of our platform can be used by enterprises to make efficient crypto-to-fiat transfers and bank payouts.”
Ripple was the first company to address the multi-trillion-dollar pain points associated with cross-border payments, utilizing blockchain and crypto at scale.
Through its state-of-the-art infrastructure, Ripple provides a superior end-to-end customer experience in a trusted and transparent way, enabling its clients to track payments in real time and forecast delivery times, underpinned by clear pricing and FX rates.
Its product offerings have since grown to address new use cases for businesses like liquidity management, tokenization and custody solutions.
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.
XRP investors, speculators, enthusiasts, and the wider crypto community celebrated the recent move as bullish for both Ripple and the broader crypto market.
BREAKING: Ripple partners with Uphold exchange! 🔥🤝
— MASON VERSLUIS (@MasonVersluis) October 24, 2023
Ripple + Uphold partnership is SUPER BULLISH 🚀
Uphold earned the hell out of that.
One of the only exchanges that DID NOT delist $XRP when the lawsuit struck.
— MASON VERSLUIS (@MasonVersluis) October 24, 2023
— JackTheRippler ©️ (@RippleXrpie) October 24, 2023
According to Coin Telegraph:
Ripple‘s XRP has now become the fourth largest cryptocurrency by market capitalization following Ripple Labs’ partial victory over the Securities and Exchange Commission on July 13.
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