Recently Ripple (XRP) has been making the news headlines regularly with a series of updates regarding their case with the Securities and Exchange Commission (SEC). They have made the headlines once again, although this time for a different reason.
Ripple Enhances Cross-Border Crypto Payments with Uphold Partnership.
In a strategic move to bolster its cross-border cryptocurrency payments infrastructure, Ripple has entered into a promising partnership with Uphold. Uphold, a versatile digital currency platform accessible in more than 184 countries and providing access to over 200 cryptocurrencies and fiat currencies, is set to deliver “enhanced crypto liquidity capabilities” to Ripple, as per the recent announcement.
Uphold’s CEO, Simon McLoughlin, shared insights into the company’s advanced trading features, highlighting their fully automated, high-frequency trading stack interlinked with 30 fundamental trading venues. This integration empowers Uphold to offer deep liquidity, multiple execution pathways for transactions, and remarkably tight spreads, enhancing the cryptocurrency liquidity landscape.
Pegah Soltani, Ripple’s Head of Payments, expressed enthusiasm about the partnership, recognizing its potential to elevate Ripple’s underlying infrastructure. Uphold’s profound expertise in liquidity reinforces Ripple’s mission to provide swift and flexible cross-border payments globally.
Ripple, a prominent player in the crypto sphere, primarily focuses on three critical domains: cross-border payments, crypto liquidity, and central bank digital currencies (CBDCs). Their recent announcement highlights Ripple’s significant footprint, serving hundreds of customers across more than 55 countries and spanning six continents. They have payout capabilities in over 70 markets and have impressively processed a staggering $30 billion in volume through 20 million transactions since launching their payments solution.
Ripple is also celebrating a recent legal triumph, as the U.S. Securities and Exchange Commission (SEC) withdrew its lawsuit against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen. In July, District Judge Analisa Torres rendered a partial ruling in favor of Ripple concerning XRP. The SEC’s subsequent bid for an interlocutory appeal was declined by Judge Torres.
This partnership between Ripple and Uphold marks a significant step in strengthening cross-border cryptocurrency payments infrastructure and liquidity. As this collaboration evolves, it promises to bring notable enhancements to the world of crypto payments. Share your thoughts on this exciting development and how you think it will accept Ripple’s crypto market price. comments below.
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