The Ripple effect for crypto assets

crypto assets

As crypto assets rise, customers will want to have a platform to buy, sell, and hold them. In Southeast Asia, the use of crypto is becoming more and more popular. For example, in Singapore, reports showed that Singaporeans are increasingly using cryptocurrencies as a form of payment for some products.

Even in Australia, a country where crypto assets continue to see immense activity, the Commonwealth Bank of Australia announced that they will enable cryptocurrency trading services in the bank app for customers.

Mastercard has also announced that it will partner with three Asian crypto companies to launch bitcoin payment cards. They include Hong Kong crypto finance firm Amber Group, Thailand crypto exchange Bitkub, and Australia trading platform Coinjar.

The association intends to introduce cryptocurrency-linked credit, debit and prepaid cards for individuals and businesses in Asia Pacific. Cardholders will be able to instantly convert bitcoin and other digital currencies into fiat currencies, which can then be spent online or offline at any of the merchants that accept Mastercard payments.

However, despite the increased use and demand for crypto asset management platforms and such, Binance, which is the world’s largest crypto trading exchange, has been banned in some South East Asian countries. In fact, China has also announced a complete stop cryptocurrency trading and has begun to crack down on privately mined cryptocurrencies.

The Monetary Authority of Singapore (MAS) has also warned of strong speculative wings and potential risks for retail investors investing in cryptocurrencies. Speaking at the Singapore Fintech Festival, Ravi Menon, managing director of MAS, said that Singapore’s central bank “frowns on cryptocurrencies or tokens as an investment asset for retail investors.”

However, interestingly, according to Crypto asset management market 2021-2025The size of the global crypto asset management market is projected to grow to US$1.2 billion by 2026, with the APAC region expected to provide significant growth opportunities for vendors operating in the cryptocurrency management market during the period forecast.

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(Photo by Ozan KOSE / AFP)

The report highlighted that rapid advances in network infrastructure, cloud computing, economic growth and stable geopolitical system have provided a platform for growth of solution providers in the APAC region.

Also, mobile apps built for cryptocurrency trading have made things easier for asset traders and miners. There have been several stock market apps that now have cryptocurrency apps that not only allow you to have full control over digital assets, but also trade them. When powered by blockchain, these cryptocurrencies can be used for all kinds of payments and transactions.

The report also showed that e-wallet apps tend to store digital assets and money, allowing the user to spend on transactions that involve block chain technology. These digital asset tracking apps strive to provide up-to-date information on rates, exchanges, market dynamics, and a portfolio of various cryptocurrencies. Examples of crypto asset management providers include Coinbase, Gemini and Crypto Finance, Vo1t and BitGo.

Buy, sell and trade crypto assets

As such, Ripple, a provider of enterprise blockchain and crypto solutions, will launch its Ripple Liquidity Hub in 2022. Currently available in preview mode, the solution will allow customers to seamlessly access crypto assets from a variety of global locations, including the market makers. , exchanges, OTC counters, and in the future, decentralized venues. The product will support turnkey integration and intelligent order routing to source digital assets at optimized prices, giving customers the ability to easily buy, sell and hold crypto assets.

For almost two years, Ripple has leveraged Liquidity Hub for internal liquidity management as part of its Liquidity on demand product, driving millions of transactions, worth billions of dollars. Ripple will now make the product available to its hundreds of customers around the world, as well as any financial institution, bank, fintech or company that needs help preparing for a inevitable crypto-first world.

“We understand first-hand the need for easy and efficient liquidity management, and as such have received questions from our clients who require solutions that can be a one-stop shop for buying, selling and holding crypto assets. The combination of Ripple’s crypto DNA and long history of working with financial institutions puts us in a unique position to address this issue for our customers as they prepare for a tokenized future,” said Asheesh Birla, General Manager of RippleNet.

Unlike existing solutions available, Liquidity Hub is designed for enterprise customers and their unique needs through easy onboarding by offering a streamlined API to access digital assets from a wide range of liquidity pools. There will also be optimized pricing for a variety of digital assets, allowing businesses to offer their clients the best price from a variety of liquidity venues.. Businesses will not be required to pre-fund accounts for Liquidity Hub and can receive access to working capital through Ripple to fund their business operations.

Ripple’s first partner of the alpha product is Coinme, the largest licensed cryptocurrency cash network in the US, with thousands of locations across the country. Coinme will initially use the underlying technology platform of Liquidity Hub, with plans to unlock additional features as they become available.