Ripple Partners with Uphold to Enhance Cross-Border Payments
Ripple, a FinTech company specializing in blockchain and cryptocurrency solutions, has announced a partnership with Uphold, a global Web3 financial platform. This collaboration aims to improve Ripple’s cross-border payment infrastructure by utilizing Uphold’s crypto liquidity capabilities.
Ripple’s existing services focus on facilitating international payments without the need for pre-funded accounts in multiple countries. The company has been in the blockchain solutions sector for over a decade, offering a 24/7 payment solution with near-instant settlement.
The partnership with Uphold is expected to enhance Ripple’s underlying infrastructure, according to Pegah Soltani, Head of Payments Product at Ripple. By leveraging Uphold’s expertise in crypto liquidity, Ripple aims to provide fast and flexible international payments. Soltani expressed optimism about establishing a long-term relationship with Uphold.
Uphold’s Trading Architecture and Crypto Liquidity
Uphold is known for its trading architecture that enables easy value transfer between fiat and crypto across different networks. The platform can tap into various global crypto liquidity sources, allowing businesses to execute payments more efficiently.
Simon McLoughlin, CEO of Uphold, highlighted that their platform’s high-frequency trading stack is connected to 30 trading venues, providing deep liquidity and multiple transaction pathways. Uphold’s capabilities make it suitable for enterprises requiring crypto-to-fiat transfers and bank payouts.
Ripple’s Contributions in Cross-Border Payments
Ripple was one of the pioneers in leveraging blockchain and cryptocurrency technologies to address challenges in cross-border payments. The company’s infrastructure offers real-time payment tracking, delivery time forecasting, transparent pricing, and foreign exchange rates.
In addition to its payment solutions, Ripple provides liquidity management, tokenization, and custody solutions. With operations in over 55 countries across six continents and payout capabilities in more than 70 markets, Ripple has processed $30 billion in transactions and completed 20 million transactions.
Hot Take: Enhancing Cross-Border Payments with Uphold Partnership
Ripple’s partnership with Uphold holds great promise for improving the efficiency and flexibility of cross-border payments. By integrating Uphold’s crypto liquidity capabilities, Ripple aims to enhance its infrastructure and provide faster international payments. The collaboration between these two FinTech companies is expected to pave the way for a long-term relationship that benefits businesses seeking seamless crypto-to-fiat transfers and bank payouts.
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