Ripple has announced a strategic partnership with Uphold, a Web3 financial platform specializing in liquidity management. The collaboration aims to enhance Ripple’s cross-border payment network by leveraging Uphold’s expertise.
Businesses can now use Ripple’s XRP cryptocurrency to pre-fund accounts with Uphold for seamless conversion into fiat currency. Initially focused on UK-Europe and US corridors, the partnership addresses challenges in traditional payment gateways, with plans to expand to Brazil.
Uphold CEO Simon McLoughlin emphasized the value of Ripple’s cross-border payment service, highlighting Uphold’s high-frequency trading stack.
The collaboration enables efficient crypto-to-fiat transfers, with Uphold aiming for an initial liquidity volume of $5 billion annually. Uphold’s Web3 platform ensures smooth transitions between fiat and crypto, connecting businesses to global crypto liquidity platforms.
Ripple’s advanced blockchain infrastructure, addressing cross-border payment challenges, includes real-time tracking, delivery predictions, and transparent pricing. Ripple’s diverse portfolio covers tokenization, custody solutions, and now liquidity management.
Operating in over 55 countries, Ripple has processed $30 billion in value, with the current XRP token priced at $0.62.
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