Recently, Ripple and Uphold announced a new collaboration aimed at fortifying the core infrastructure supporting cryptocurrency liquidity.
Ripple, a pioneer in blockchain and cryptocurrency solutions for enterprises, has officially announced a new alliance with Uphold, the well-known international financial platform Web3. This is to be expected.
The alliance intends to apply Uphold’s cutting-edge crypto liquidity capabilities to improve Ripple’s cross-border payments infrastructure.
Ripple, a well-known company in the payments sector, offers blockchain and cryptography solutions to enterprises that maximise efficiency and expand globally.
This is accomplished by releasing previously locked-up capital by doing away with the requirement to pre-capitalize accounts in various regions of the world.
With over ten years of experience creating blockchain-based financial solutions, Ripple is transforming payments with a cryptocurrency-based business solution that makes payments possible around-the-clock in almost real-time.
Pegah Soltani, Ripple’s Head of Payments Product, stated:
“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, the top Web3 financial platform, offers a cutting-edge trading architecture that makes it easier to transfer money between conventional and cryptocurrency currencies as well as between various financial networks.
Additionally, Uphold provides easy access to a variety of worldwide cryptocurrency liquidity sources, which facilitates seamless and rapid payment processing for businesses and better customer service.
Collaborating to transform international payments
The CEO of Uphold, Simon McLoughlin, commended the collaboration with Ripple and described it as a beneficial addition for companies engaged in international payments:
“The Uphold platform has a fully automated high-frequency trading stack connected to 30 underlying venues, enabling high liquidity, multiple execution paths and extremely tight spreads for transactions.”
Cross-border payments are a multibillion dollar barrier that Ripple has successfully overcome with its large-scale blockchain and crypto technology.
Customers can expect a dependable and transparent end-to-end experience from its state-of-the-art infrastructure, which offers real-time payment tracking, delivery time prediction, transparent pricing, and favourable exchange rates.
To handle new business scenarios, Ripple’s product line has grown to include custody, tokenization, and cash management solutions.
With payment capabilities in more than 70 markets, Ripple currently serves hundreds of customers in more than 55 countries and six continents. Since its launch, 20 million transactions and $30 billion in volume have been handled by Ripple’s payment service.
Ripple defeats the US SEC in court
A significant development in Ripple’s legal dispute with the US Securities and Exchange Commission (SEC) was recently sealed by a US District Court judge.
Brad Garlinghouse and Christian Larsen, two executives of Ripple, were formally cleared of all charges by Judge Analisa Torres on October 23.
The ongoing legal dispute between Ripple and the SEC over claims pertaining to the sale of XRP coins has taken a major turn with this ruling.
The SEC withdrew the accusations, which were connected to past XRP sales, before the trial’s scheduled commencement. Garlinghouse responded by denouncing the aggressive strategy of the securities regulator and drawing attention to the improper use of public funds.
The SEC’s action was regarded by some legal experts as a potential tactic to expedite the appeals process and avert a protracted trial that was initially planned for the spring.
Attorney Jeremy Hogan discussed his thoughts on the never-ending legal dispute between Ripple and the SEC on October 21. The hearing to decide whether to impose a possible fine of up to $770 million is the only matter left, the lawyers emphasised, adding that the case is practically “over.”
In particular, Hogan stated:
“Yes, important hearings will be held in the coming months (the determination of a fine of up to $770 million is, of course, a relevant issue). But your time to worry about this case is up, in my opinion.”
He continued by explaining that the possibility of a trial in 2024 had been eliminated when the SEC dropped the remaining portion of the case. Ripple will be the sole party engaged in the case, and the court’s ruling is anticipated early in the next year.
