Ripple, the firm focused on enterprise blockchain and crypto solutions, has announced a new partnership with Uphold, the global Web3 financial platform.
The partnership will see Uphold provide Ripple “with enhanced crypto liquidity capabilities to underpin and enhance its cross-border payments infrastructure.”
Known for its flagship payments products, Ripple’s blockchain and crypto enterprise solutions “help customers globally to accelerate their business performance and scale by removing the need to pre-fund accounts around the world and freeing up trapped capital.”
With over 10 years of building blockchain solutions for finance, Ripple is transforming payments “with its crypto-enabled enterprise solution that provides the ability to send payments 24/7/365 and near real-time settlement.”
Pegah Soltani, Head of Payments Product, at Ripple, said:
“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.”
As a Web3 financial platform, Uphold’s superior trading architecture “makes it easy to move value between fiat and crypto and across networks.”
Uphold is able to “provide access from a wide range of crypto liquidity venues globally enabling businesses to seamlessly serve customers and deliver payments.”
Simon McLoughlin, Chief Executive Officer at Uphold, said:
“Ripple provides a tremendously valuable service to businesses making cross-border payments and we are thrilled to be an essential part of it. The Uphold platform features a fully-automated, high-frequency trading stack connected to 30 underlying trading venues allowing us to offer deep liquidity, multiple execution paths for transactions, and exceptionally tight spreads. Our partnership with Ripple illustrates how the unique capabilities of our platform can be used by enterprises to make efficient crypto-to-fiat transfers and bank payouts.”
Ripple was the first company to “address the multi-trillion-dollar pain points associated with cross-border payments, utilizing blockchain and crypto at scale.”
Through its infrastructure, Ripple provides an end-to-end customer experience in a trusted and transparent way, “enabling its clients to track payments in real time and forecast delivery times, underpinned by clear pricing and FX rates.”
Its product offerings have since grown “to address new use cases for businesses like liquidity management, tokenization and custody solutions.”
Today, Ripple serves customers “in over 55 countries and 6 continents, with payout capabilities in more than 70 markets, and has processed $30 billion worth of volume and 20 million transactions since its payments solution was first launched.”
