Ripple and Uphold Partner to Enhance Cross-Border Crypto Payments & Crypto Liquidity

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Ripple has announced its partnership with Uphold to enhance its global cross-border payment network. This collaboration aims to improve their crypto liquidity capabilities and make cross-border transactions even more efficient. 

Ripple currently operates in over 55 countries with payout services in 70 markets; Ripple has already processed $30 billion in transactions.

Ripple Announces New Partnership with Uphold

Ripple, a key player in the cryptocurrency world, has recently announced its strategic collaboration with Uphold, a versatile digital currency platform operating in over 184 countries, providing access to more than 200 cryptocurrencies and fiat currencies.

In a recent statement, Ripple announced that this collaboration aims to enhance Ripple’s cross-border payments infrastructure through Uphold’s expertise in crypto liquidity capabilities.

Simon McLoughlin, Uphold’s CEO, mentioned that their platform features a fully automated, high-frequency trading stack connected to 30 underlying trading venues. This configuration empowers Uphold to provide deep liquidity, multiple execution options for transactions, and exceptionally tight spreads.

Further, Pegah Soltani, Ripple’s head of payments, said that this partnership makes Ripple even better at sending money quickly worldwide. She stressed that Uphold’s expertise in handling money helps Ripple offer fast and flexible cross-border payments globally.

Ripple’s Reach Expands to 55 Countries with $30 Billion in Transactions

Ripple is extending its reach, serving customers in over 55 countries across six continents. This vast network allows Ripple to handle payouts in more than 70 markets, where they’ve processed an impressive $30 billion in transactions and facilitated 20 million transactions since introducing their payment solutions.

Adding to this achievement, Ripple recently celebrated a legal victory. After a 3-year-long battle with the Securities and Exchange Commission (SEC), the SEC decided to drop the claims against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen.

Earlier, the SEC had tried to challenge this ruling through an appeal but faced defeat in this endeavour.