This article came directly from the Ripple blog, Insights.
It’s March Madness. Three weeks, 136 teams, and two college basketball championships. While there is no shortage of talent and promise on the court, it’s often the proven programs with the most experienced, seasoned coaches and practiced players that are the odds-on favorites.
The same is true in crypto. There is a lot of hype and activity in the arena, but at the end of the day, it’s the proven companies — and their teams of cutting-edge customers and partners — with the experience, industry savvy and technical resources that deliver the most trusted solutions.
A Lot Has Happened Over the Last Decade
Ten years, 55 countries and hundreds of financial institutions. That’s Ripple’s stat line. A rare crypto triple-double.
Collectively, it demonstrates a vibrant history of innovation and success in crypto and blockchain. Individually, the numbers represent tried and true, cherished customer and partner relationships that have helped pioneer the space, spanning a diverse range of use cases, geographies and regulatory environments.
Partners like Siam Commercial Bank (SCB) rely on Ripple to power instant, low-cost cross-border payments in Thailand and the broader region. With Ripple, SCB boasts one-minute end-to-end processing times, 80,000 monthly transactions and $400 million in monthly person-to-person remittance settlements.
And partners like Nium that use Ripple to process real-time transactions in Southeast Asia and was the first to connect the region to remittance corridors in North and South America. Founded in 2014, Nium was up and running on Ripple in eight weeks and is saving 98% on domestic transfer rates for customers.
And don’t forget Pyypl, who helped bring Ripple’s payments solution to the Middle East market for the first time: enabling a real-life use case for improved treasury flows between USD and EUR, and providing Pyypl customers access to additional working capital to help streamline cash flow.
Innovating and Iterating on Better Blockchain Solutions
These companies are only three of the many that have helped to create a virtuous circle of innovation at Ripple, wherein partner experiences result in learnings and insights that then inform new solutions. It’s these relationships that enable us to better support our partners as they navigate an increasingly crypto-forward world and continue to discover new applications and use cases for the technology.
It is this cycle that helped give rise to the success of our On-Demand Liquidity (ODL) solution, which now has near global coverage in 22 destination markets. It also highlighted the need for RippleX, which launched in 2020 to support developers building on the XRP Ledger (XRPL) with open-source code, tools, programs, applications, documentation and more.
Crypto for Business: The Next 10 Years
Recently, companies have consistently asked us how to attract new customers and build revenue streams using crypto but without a major resource-heavy commitment (i.e. in-house development, managing regulatory requirements, maintaining tech to keep up with the industry), or the typical pre-funding requirements of traditional payment rails.
In response, we are leveraging the success of ODL and our expertise in accessing liquidity across multiple markets to design and build Liquidity Hub. This plug-and-play platform will make it easy for companies of any size to buy, sell or hold crypto internally or on behalf of their customers absent the time, resource or capital commitments normally required to do so.
Through one simple implementation, Liquidity Hub offers access to deep liquidity pools and leverages smart order routing and advanced algorithms to source optimized prices for a variety of digital assets. With an all-in-one, enterprise-grade dashboard, companies will have an easy and transparent way to manage and monitor trading. And importantly, Liquidity Hub offers the ability to reduce pre-funding in capital accounts, helping to free up some of that working capital to be allocated elsewhere.
Brad Chase, Ripple’s Sr. Director of Data Software Engineering, has a long tenure of experience building products and solutions to meet customer demands: “We’ve worked day and night to build a global, enterprise-grade crypto product in ODL, powering real payment volume and providing real utility for our customers. Now with Liquidity Hub, we’ve distilled the foundational crypto trading and liquidity management capabilities into a stand-alone offering that will provide a seamless way for our customers to bring crypto to their end-users.”
Ten years ago, Ripple was the first company with an enterprise-level B2B solution to leverage crypto as a means of solving cross-border payments challenges. Since then, we have assembled an impressive lineup of partners and solutions to help propel the industry forward and keep the conversation going. Now, we are building on that history to once again innovate on behalf of our customers. We’re looking forward to the next 10 years together.
Want to join the movement? Learn more about Liquidity Hub and how your business can get started.
The article above came directly from the Ripple blog, Insights, found on https://ripple.com/insights/