This collaboration is set to merge Uphold’s extensive crypto liquidity capabilities into Ripple’s cross-border payments infrastructure
San Francisco-based blockchain company Ripple has formed a partnership with the Web3 financial platform Uphold, according to a Tuesday announcement.
The primary goal of this tie-up is to integrate Uphold’s crypto liquidity resources into Ripple’s existing cross-border payments infrastructure.
Enhancing cross-border payments
Over the past decade, Ripple has developed systems intended to simplify international transactions by addressing the challenges of pre-funding accounts for businesses.
Through the incorporation of Uphold’s services, Ripple seeks to optimize its existing infrastructure.
Pegah Soltani, Ripple’s head of payments product, has noted the potential operational improvements from this partnership, hinting that this is only the start of their relationship.
Uphold, which facilitates transitions between fiat and cryptocurrencies, draws from a network of global crypto liquidity providers.
This integration could offer a more straightforward approach for businesses conducting international transactions.
Uphold’s unwavering support for XRP
Throughout the tumultuous times faced by Ripple, especially during its legal challenges with the U.S. Securities and Exchange Commission, Uphold has stood out as one of its staunchest allies. Many platforms wavered in their support, often sidelining XRP amidst the legal uncertainties, but Uphold remained consistent in its backing. This unwavering support has positioned Uphold as a reliable platform in the eyes of XRP users.
As reported by U.Today, Uphold has predicted that Ripple’s win against the SEC could spur significant for XRP and the cryptocurrency industry in general.
To date, Ripple has offered solutions to address cross-border payment challenges using its blockchain and cryptocurrency tools. They operate in over 55 countries and have a presence in more than 70 markets.