- Uphold will help Ripple enhance its underlying crypto liquidity infrastructure.
- Ripple’s cross-border solution has gained significant traction through use cases such as liquidity management, tokenization, and custody solutions.
Ripple announced a new partnership with crypto exchange and Web3 financial platform Uphold, the companies revealed on Tuesday.
The collaboration, detailed in a press release, is focused on strengthening crypto liquidity for Ripple’s cross-border payments infrastructure.
Uphold to enhance Ripple’s infrastructure
Ripple’s solution, which uses XRP to reduce costs and shorten delivery times for cross-border payments, has gained wide adoption through the San Francisco-based company’s global partnerships.
Uphold, a multi-asset platform operating in more than 180 countries and offering access to around 200 cryptocurrencies and fiat currencies, could play a pivotal role in expanding Ripple’s global cross-border remittance capabilities.
“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,” said Pegah Soltani, head of payments product at Ripple.
As Ripple scales its infrastructure, including the ongoing expansion of its liquidity hub, the company is leveraging blockchain technology to enable real-time international transfers. Ripple’s product suite supports use cases such as liquidity management, tokenization, and custody solutions for businesses.
Uphold CEO Simon McLoughlin commented on the 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.”