Ripple to Use Uphold’s Expertise for Cross-Border Payments

Ripple and Uphold’s groundbreaking partnership is poised to reshape cross-border crypto payments, ushering in a new era of financial innovation.

Brad Garlinghouse happy that Ripple is worldwide.
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  • Ripple has forged a strategic alliance with Uphold, delving into cross-border payments.
  • Ripple’s formidable suite has centered on cross-border payments, crypto liquidity, and CBDC.
  • Astounding numbers have showcased Ripple’s vast global impact in the crypto market.

The market isn’t the only thing making waves in the last few days. As the SEC drops its lawsuit against Ripple executives, the cryptocurrency giant has embarked on a game-changing partnership. 

Ripple and Uphold to Redefine Cross-Border Payments

Teaming up with Uphold, a dynamic digital currency platform spanning 184 countries and facilitating access to more than 200 crypto and fiat currencies, Ripple is poised to revolutionize its cross-border crypto payments infrastructure. 

Under the leadership of CEO Simon McLoughlin, Uphold boasts a sophisticated platform featuring a fully automated, high-frequency trading stack connected to 30 underlying trading venues. This empowers Uphold to provide deep liquidity, multiple transaction execution paths, and exceptionally tight spreads, setting it apart in the crypto industry.

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Pegah Soltani, the Head of Payments at Ripple, shared her perspective on this pivotal collaboration: “Our new partnership with Uphold enables us to enhance our underlying infrastructure and Uphold’s deep liquidity expertise further underpins Ripple’s ability to offer fast and flexible cross-border payments around the world.”

20 Million Transactions in Over 70 Markets

Ripple’s formidable suite of solutions focuses on three core pillars: cross-border payments, crypto liquidity, and central bank digital currency. The extensive reach of Ripple’s operations is nothing short of awe-inspiring, currently serving a vast clientele spanning over 55 countries on six continents. 

Incredibly, Ripple possesses payout capabilities in a staggering 70 markets. This concerted effort has successfully processed a whopping $30 billion in transaction volume, amounting to an impressive 20 million transactions since the inception of its payment solution.

On the Flipside

  • Despite the SEC’s decision to drop its lawsuit against Ripple executives, the lawsuit remains in progress, with the ultimate verdict yet to be determined.
  • The ambition to revolutionize cross-border payments is commendable, but it’s essential to recognize the complex challenges involved in achieving this goal.
  • The crypto industry is highly competitive, and Uphold’s ability to maintain its edge will now be more closely watched.

Why This Matters

This strategic partnership between Ripple and Uphold heralds a significant step forward in the evolution of cross-border crypto payments. It enhances the efficiency of Ripple’s payment solutions and signifies a growing trend toward crypto mainstream adoption, paving the way for faster, more flexible global transactions.

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To learn more about the ongoing legal battle between Ripple and the SEC, read here:
Ripple Still in Hot Waters as SEC’s Legal Battle Continues

For the latest developments that have propelled XRP and sparked a surge, check out this article:
Ripple’s Legal Victory Propels XRP But More Drives Its Surge

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.