Ripple Partners with Uphold to Enhance Cross-Border Crypto Payments

Ripple has announced a strategic partnership with Uphold, a multi-asset digital currency platform available in over 184 countries, offering access to an extensive range of over 200 cryptocurrencies and fiat currencies. This collaboration aims to enhance Ripple's cross-border cryptocurrency payment infrastructure by leveraging Uphold's enhanced crypto liquidity capabilities.

Uphold, led by CEO Simon McLoughlin, stands out for its fully automated, high-frequency trading stack, intricately connected to 30 underlying trading venues. This sophisticated setup allows Uphold to deliver deep liquidity, multiple transaction execution paths, and exceptionally tight spreads within the cryptocurrency market.

Pegah Soltani, Ripple's Head of Payments, expressed enthusiasm about the partnership, stating, "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."

Ripple's core focus lies in three key areas: cross-border payments, crypto liquidity, and central bank digital currency (CBDC). The company serves a vast clientele, spanning over 55 countries and six continents, with payout capabilities extending to more than 70 markets. Since the inception of its payments solution, Ripple has processed an impressive $30 billion in volume and completed 20 million transactions.

This partnership comes on the heels of Ripple's legal victory against the U.S. Securities and Exchange Commission (SEC). Last week, the SEC dropped its lawsuit against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen. District Judge Analisa Torres had previously ruled partially in favor of Ripple regarding XRP on July 13. Although the SEC sought to appeal the decision, Judge Torres denied the regulator's request for an interlocutory appeal.