Ripple Partners with Uphold to Boost Cross-Border Crypto Payments
The collaboration with Uphold comes shortly after Ripple celebrated a recent triumph in its ongoing legal battle with the US SEC.
Blockchain payment infrastructure company Ripple has secured a new partnership with Uphold, a US-based crypto-focused financial firm known for providing innovative solutions to streamline business offerings.
The new partnership, announced on October 24, will enable Uphold to provide enhanced crypto liquidity capabilities to Ripple, fostering faster and more efficient cross-border transactions for its diverse customers.
Ripple Partners Uphold to Provide Fast Cross-Border Payments
With this collaboration, Ripple will benefit from the company’s advanced trading architecture that facilitates seamless fiat-to-crypto transactions.
Ripple’s head of payments product Pegah Soltani said that Uphold’s deep liquidity expertise will help the company achieve its goal of providing fast and flexible cross-border payments.
“Our new partnership with Uphold enables us to enhance our underlying infrastructure and Uphold’s deep liquidity expertise and 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 the future,” said she.
According to Uphold CEO Simon McLoughlin, the partnership is a testament to the unique capabilities of their platform, demonstrating how enterprises can efficiently execute crypto-to-fiat transfers and bank payouts, leveraging the seamless integration between the two firms.
“Our partnership with Ripple illustrates how enterprises can use the unique capabilities of our platform to make efficient crypto-to-fiat transfers and bank payouts,” noted McLoughlin.
Ripple Tackles Cross-Border Payment Challenges
As a leading crypto payment infrastructure provider, Ripple has effectively harnessed blockchain technology to address global payment challenges on a significant scale.
Leveraging its advanced infrastructure, the company prioritizes transparency and security, allowing for real-time payment tracking and delivery forecasts supported by clear pricing and foreign exchange rates.
Over time, Ripple has expanded its services to meet evolving business needs, including liquidity management, tokenization, and custody solutions.
Presently, the company caters to many customers across 55 countries and six continents. Ripple said it processes crypto transactions in over 70 markets, amounting to $30 billion in volume and 20 million transactions since its inception.
Ripple’s Recent Legal Victory Against SEC
The collaboration with Uphold comes shortly after Ripple celebrated a recent triumph in its ongoing legal battle with the US Securities and Exchange Commission (SEC).
Last week, the SEC declared its decision to dismiss allegations against Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen for supposedly abetting the company’s alleged securities law violations.
The SEC’s case, which began in 2020, accused Ripple of conducting an unregistered securities offering amounting to $1.3 billion linked to its XRP token.
Ripple previously secured a legal win when a judge in the United States ruled that the company had not violated securities laws while offering XRP to retail investors. Earlier this month, the SEC’s appeal of that ruling was denied, further solidifying Ripple’s position in the ongoing legal dispute.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
