• Ripple has launched a new liquidity product, Liquidity Hub, to facilitate businesses in bridging the gap between fiat and crypto.
• The platform currently supports major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic but not XRP.
• Ripple clarified that XRP will be evaluated along with other tokens for support within the product once regulatory clarity is achieved in the US.
Ripple Launches Liquidity Hub
Ripple has recently announced the launch of its new liquidity product for businesses called Liquidity Hub. This platform bridges the gap between fiat and cryptocurrency by allowing companies to easily convert their funds from one asset type to another.
Liquidity Hub supports several major cryptocurrencies including Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ethereum Classic. However, it does not include Ripple’s native token XRP which has raised eyebrows among the Ripple community.
SEC Court Case Against Ripple
The exclusion of XRP may be related to the ongoing court case between Ripple and the Securities and Exchange Commission (SEC). The SEC has accused Ripple of raising $1.3 billion through an unregistered security offering by selling XRP to investors since 2020.
XRP Evaluation Once Regulatory Clarity Reached
In an announcement, Ripple clarified that XRP will be evaluated along with other tokens for support within the product once regulatory clarity is achieved in the US. John Deaton also supported this stand pointing out that other companies may hesitate to invest or support XRP due to regulatory uncertainty if it remains unresolved soon enough.
Ripple’s Liquidity Hub aims at reducing friction between fiat-to-crypto transactions for businesses while ensuring compliance with global regulations. The platform currently supports several major cryptocurrencies except for its native token due to legal complications with US securities regulator SEC which might hinder its inclusion until there is more clarity on the matter in future.