- Uphold integrates Ripple payments, offering institutional investors new ways to use the On Demand Liquidity (ODL) service.
- Yassir Mobarak highlights the integration of Ripple into Uphold, expanding the possibilities for cross-border transactions from the US and UK.
Uphold’s recent addition of Ripple’s payment services represents a step forward for the use of Ripple’s On-Demand Liquidity (ODL) service by institutional investors. This integration highlights the growing utility of XRP in the financial sector, evidencing Uphold’s effort to improve access and efficiency in the digital payments system.
Yassir Mobarak, founder of Dizer Capital, a technology investment firm, has highlighted this development on social media, offering details on how Uphold has aggregated Ripple payments for institutional investors.
Mobarak also mentioned Uphold’s ability to act as an ODL partner for Ripple, enabling transactions from both the U.S. and the U.K., reflecting Ripple’s commitment to strengthening the international paymentsinfrastructure .
Read more: Siam Commercial Bank Leverages Ripple for Low-Cost, Swift Remittances
In October 2023, Ripple began a collaboration with Uphold with the goal of providing Ripple with enhanced cryptocurrency liquidity capabilities, strengthening its infrastructure for international payments.
Pegah Soltani, head of payments product at Ripple, commented that this partnership with Uphold enhances Ripple’s core infrastructure and underscores Ripple’s ability to offer fast and versatile international payments.
However, recent warnings from Fox Business reporter Charles Gasparino have raised concerns among XRP owners. His commentary underscores the insecurity surrounding Ripple due to its ongoing legal battles, which could negatively impact XRP investors’ assets.
The legal dispute between Ripple and the SEC remains an ongoing matter, with significant implications for XRP’s market performance.
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A recent court decision indicated that Ripple’s institutional sales violated securities laws, although a distinction was drawn with secondary sales of XRP. Despite a temporary increase in XRP’s price following a partial Ripple victory in July 2023, the gains did not last long.
This legal backdrop continues to affect XRP’s market performance, maintaining an atmosphere of uncertainty. The situation reflects both challenges and opportunities for Ripple as it strives to firmly establish itself in the global digital finance market.
The current price of Ripple (XRP-USD) is $0.631480, showing an increase of $0.002920 or 0.46%. This change falls within the day’s price range, which has fluctuated between $0.621588 and $0.635799.
