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Liquidity Hub; Ripple’s new product launching in 2022

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  • Liquidity Hub is a financial service product from RippleNet for efficient cross-border financial transactions and capital funding services.
  • RippleNet’s Liquidity Hub will launch in 2022 after licensing and fulfilling all regulatory and legal requirements.
  • RippleNet’s Liquidity Hub has already added Coinme as a partner.

Ripple unveils Liquidity Hub, a service that provides cryptocurrency services to their corporate clients and helps them source instant crypto liquidity from worldwide. Ripple has been a leading provider of financial solutions and cross-border payment services in the blockchain and cryptocurrency space since 2014.

Liquidity Hub; Ripple's new product launching in 2022 1
Ripple Liquidity Hub

According to Asheesh Birla, RippleNet’s General Manager, in an on-air “Crypto goes mainstream” interview with YahooFinance, Liquidity Hub was born out of the perennial demand for a platform to source for liquidity. These services will not be limited to Ripple (XRP), covering other cryptocurrencies like BTC, ETH, LTC, etc.

What is Liquidity Hub?

Liquidity Hub, which is set to launch in 2022, is an efficient and easy one-stop liquidity management platform that will allow users to source liquidity from a wide range of providers. It will offer an interface (an aggregator layer) that enables companies to transact cryptocurrencies at the best market price.

Since 2018, RippleNet has used its product, Liquidity Hub, to facilitate transactions worth billions of US dollars. By popular demand from customers, it is ready to bring this financial service to the general public. It will integrate the Bitcoin, Ethereum, BitcoinCash, Ethereum Classic, and several other crypto-assets into its on-demand liquidity platform as time goes on.

Why Liquidity Hub?

Liquidity hub offers a wide range of features, and it tends to leverage existing global liquidity in individual payments platforms.

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It promises an easy and efficient onboarding process for startups. It saves financial institutions the time and financial commitments required to source for crypto engineers who are currently in low supply. Instead, they can easily integrate RippleNet’s Liquidity Hub into their systems and train their IT staff on the new technology.

Also, it offers a cost-effective cross-border payment option because of the removal of third parties in transactions. It allows enterprises to give their customers the best price through their price aggregator feature from a large liquidity pool.

RippleNet believes they stand the best chance to give the best quality financial services/solutions in the crypto and blockchain space. They already have a record of meeting expectations in the financial service sector of the blockchain space.

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In terms of security, RippleNet claims to be the best and most experienced in securing blockchain transactions through cryptography algorithm.

RippleNet’s Liquidity Hub already added Coinme as a partner. Coinme is one of the USA’s largest licensed cash-for-bitcoin exchanges, with over 20,000 locations in the U.S. Coinme plans to leverage RippleNet’s Liquidity Hub to complete transactions 24/7, 365 days, giving their users the best prices on their crypto assets.

RippleNet plans to add more features to its cross-border payment services as time goes on. The launch of Liquidity Hub would vary by jurisdiction as licensing and other legal requirements are pending.

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XRP

XRP Whale Withdraws 150 Million Coins from Binance

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Another XRP whale moves his or her funds from the exchange, now storing $150 million in a private wallet

The transaction made only a few hours ago was one of the largest non-exchange transactions made on the XRP blockchain in the last few months, according to Whale Alert.

The $150 million transaction

According to the transaction page, an anonymous whale has moved 150 million XRP coins worth approximately $150 million from Binance exchange to an unknown wallet that is currently holding 150 million coins.

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Previously, the same wallet has been making small, insignificant transactions to various exchanges worth approximately $20-$30. The first large transaction has been made.

After receiving significant funds, the wallet spent approximately 100,000 coins by transferring them to UpBit exchange. The purpose behind such unusual funds redistribution remains undisclosed.

Ripple’s price action

Ripple’s price does not seem to consider major funds moving in a market with the price continuously moving in the same trend. The asset has broken the four-day uptrend by dropping below $0.98.

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XRP Daily Chart
Source: TradingView 

XRP was one of many victims of the global cryptocurrency market correction that took place on the market due to a rise of risk-off tendencies after the aggravation of the pandemic all over the world.

Previously, U.Today reported that numerous whales have made large transactions from various centralized exchanges back to their wallets. Such a trend is tied to overall outflows tendencies on the cryptocurrency market.

At press time, XRP is trading at $0.97 while losing 1.2% of its value. The price of the asset gained 6.2% in the previous local uptrend.

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XRP and Other Top Cryptocurrencies Now Accepted by Croatia’s Largest Supermarket Chain

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Crypto is becoming mainstream in Croatia because of Konzum

Konzum, the largest supermarket chain in Croatia, which was founded all the way back in 1957, has begun accepting cryptocurrencies in its online store, according to a Dec. 1 report by Zagreb-based newspaper 24sata.

The lineup of supported digital currencies includes Ether (ETH), Bitcoin (BTC), XRP, Stellar Lumen (XLM) and Bitcoin Cash (BCH), as well two stablecoins (Tether [USDT] and DAI).

Shoppers are now able to buy groceries, hygiene items, household supplies and other items with the aforementioned cryptocurrencies.

Konzum partnered with Croatian fintech company Electrocoin to use its PayCek system to facilitate crypto payments.

They spent several weeks testing the service before the official rollout in the run-up to Christmas.

Crypto is coming to Konzum’s physical stores

Crypto payments will also gradually become available in Konzum’s physical stores throughout the country.

The company will begin with 60 locations that have self-checkouts. After that, new payment options will be introduced in 630 stores of all sizes throughout Croatia.

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Why Brad Garlinghouse and Ripple (XRP) are Excluded from the US House Full Committee Hearing?

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On December 01, 2021, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced witnesses for the December 8 full Committee hybrid hearing entitled, “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.

Reportedly, “Since becoming Chairwoman of the House Financial Services Committee, Congresswoman Waters has transformed the Committee to focus its agenda on fairness, protecting consumers and investors, which includes accountability of large financial institutions and emerging tech products and services. She has made it a practice to call Committee hearings with CEOs of major financial institutions and companies to hold them accountable.”

The Committee has been a leader in highlighting issues related to cryptocurrency and financial technology:

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US House Committee on Financial Services expressed:  Chairwoman RepMaxineWaters announces Cryptocurrency CEOs to Testify at Full Committee Hearing.

Witness List:  Witness List: Jeremy Allaire, CEO, Circle Pay; Sam Bankman-Fried, CEO, FTX.US; Brian Brooks, CEO, Bitfury Group; Chad Cascarilla, CEO, Paxos Global; Denelle Dixon, CEO, Stellar.Org Development Foundation; Alesia Haas, CEO, Coinbase Inc. and CFO, Coinbase Global Inc.

Denelle Dixon expressed:  Honored to testify at next week’s full committee hearing on digital assets and the future of finance. Thank you to Chairwoman

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Community Reaction:  Where is Brad Garlinghouse Ripple (XRP) this is disappointing that the most compliant abs transparent US based Cryptocurrency is not represented.

No Ripple? What a joke. Don’t think they’ll be involved in innovating the future of finance? Sad.

“Due to COVID-19, all markups and hearings will be in hybrid format. Members and witnesses may participate remotely via Cisco WebEx or participate in-person in room 2128 Rayburn House Office Building.”

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Covid is not the reason why Brad was not called.

Why is Ripple not invited?  Maybe they were invited but due to ongoing legal case they refused or couldn’t participate who knows?

I can just see certain CEOs are trying to bash other crypto instead of standing together.  Crypto Committee hearing without the multibillion Dollar Blockchain Decacorn and Global Player Ripple (XRP)

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The Ones that William be Testifying William be the ones who paid the entry fee.

Ok. So, this is basically a meeting to learn more about stable coins. *Noted.*

So many XRP fans roughed up realizing Stellar is a better protocol. Who will be translating to these dinosaurs.

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Why not invite Ripple? Politicians ruin everything they are involved with.

Other than Sam there is no single big player in this list. Seriously, term limits can’t be here any sooner.

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