Ripple has announced a new partnership with Uphold, a crypto exchange and Web3 financial platform. The collaboration is set to improve the crypto liquidity of Ripple’s cross-border payments infrastructure.
Ripple’s solution, which involves using XRP to reduce cost and delivery time in cross-border payments, has grown immensely due to the company’s global partnerships. Uphold, a platform with presence in 180 countries and access to 200 cryptocurrencies and fiat currencies, could be a major asset in helping Ripple’s international remittances market.
Pegah Soltani, Head of Payments Product at Ripple, expressed her enthusiasm for the partnership: “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.”
Uphold CEO Simon McLoughlin also shared his views on the new partnership: “Ripple provides a tremendously valuable service to businesses making cross-border payments and we are thrilled to be an essential part of it. Our partnership illustrates how the unique capabilities of our platform can be used by enterprises to make efficient crypto-to-fiat transfers and bank payouts.”
As Ripple’s infrastructure continues to grow, with the expansion of its liquidity hub, the company is leveraging its blockchain to facilitate real-time international transfers. Its products include liquidity management, tokenization, and custody solutions.