The blockchain-based digital payment network Ripple announced its collaboration with Uphold in a news statement on October 24.
According to reports, the cooperation will give Ripple better crypto liquidity capabilities. In the news release, uphold CEO Simon McLoughlin stated that he is excited to play a significant role in supporting Ripple’s cross-border payment service for companies.
With its automated, high-frequency trading stack and integrations with thirty underlying trading venues, Uphold’s platform offers competitive spreads, extensive liquidity, and many alternatives for transaction execution.
The Head of Payments Product at Ripple, Pegah Soltani, responds to the news by saying:
“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.”
The XRP currency, the foundation of Ripple Labs, had a surge in value on October 20th, coinciding with the U.S. Securities and Exchange Commission’s decision to drop its charges against the business.
With a strong growth trajectory, Ripple announced on X that there were 50 job openings across 15 of its sites worldwide. Given the uncertainties surrounding global regulations, ripple is in a solid position when considering the collaboration announcement and the ongoing crypto winter.
