US-based blockchain and crypto solutions company Ripple has partnered with Uphold to improve the former’s cross-border payments infrastructure. This collaboration aims to improve Ripple's crypto liquidity capabilities, particularly in the context of cross-border payments.

Ripple offers blockchain and crypto-based enterprise services that help businesses around the world to optimise their operational efficiency. According to the official press release, the company achieves this by eliminating the necessity of pre-funding accounts across various geographical regions, thereby freeing up capital. Through its crypto-enabled enterprise offering, Ripple enables 24/7/365 payment processing and near-real-time settlement.

Representatives from Ripple talked about this new partnership with Uphold and highlighted that it allows them to strengthen their foundational infrastructure. Uphold's expertise in liquidity aims to reinforce Ripple's capacity to provide quick cross-border payments worldwide. Uphold operates a robust trading framework that facilitates seamless value transfers between fiat and cryptocurrencies across diverse networks.

Uphold's platform is linked to numerous global crypto liquidity sources, which enables businesses to efficiently serve their customers and execute payments. Officials from Uphold emphasised the importance of Ripple's services for businesses engaged in cross-border payments. They also offered more details about Uphold's platform, which includes an automated, high-frequency trading system connected to 30 underlying trading venues in order to ensure deep liquidity, multiple transaction paths, and competitive spreads.

Other noteworthy developments from Ripple Ripple enables its clients to monitor payments in real time, predict delivery times, and access transparent pricing and foreign exchange rates. In addition to its main payment solutions, Ripple has expanded its product offerings to encompass new use cases such as liquidity management, tokenization, and custody services. At the time of writing, Ripple operates in 55 countries on six continents, offering payout capabilities in over 70 markets according to the company press release.

In October 2023, Ripple has been granted an MPI licence from the Monetary Authority of Singapore (MAS). This license underscored the real-world utility of crypto solutions for businesses and financial institutions alike, marking an important step towards wider adoption of digital assets. Singapore is known as a prominent country in pioneering digital asset regulation, making it an ideal location for businesses and financial institutions to leverage the power of crypto for cross-border payments, crypto liquidity, and central bank digital currencies.

In September 2023, Ripple has agreed to expand its portfolio by acquiring Fortress Trust. Fortress Trust is a financial institution specialising in licensed Web3 financial, regulatory, and technology infrastructure services for blockchain innovators. This acquisition aligned with Ripple's strategic objectives, enhancing its presence in the enterprise cryptocurrency market.

It also followed Ripple's acquisition of Metaco, a crypto custody provider, in a deal valued at USD 250 million. .