Ripple Partners Uphold to Enhance Cross-Border Payments

Blockchain payments company Ripple has announced a partnership with Uphold, a global Web3 financial platform. As stated in a press release, the collaboration will see Uphold’s crypto liquidity capabilities integrated with Ripple’s cross-border payments infrastructure.

Bolstering Cross-Border Payments

For over a decade, Ripple has developed payment products to improve customers’ business performance and scalability by removing pre-funded accounts globally and releasing trapped capital.

Through its integration with Uphold’s crypto liquidity capabilities, Ripple aims to enhance its payment products to offer customers faster and more efficient cross-border payments.

“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,” Pegah Soltani, Head of Payments Product, at Ripple, said.

As a Web3 financial platform, Uphold provides trading architecture enabling customers to easily move value between fiat and crypto from a global network of crypto liquidity venues. Under the latest partnership, Uphold will provide Ripple access to its deep liquidity pools and network of crypto liquidity venues.

For Uphold, the collaboration will help increase its exposure to Ripple’s global customer base and expand its reach in the cross-border payments market. Ripple currently serves hundreds of customers in over 55 countries and has processed approximately $30 billion in volume and 20 million transactions.

Bullish on XRP

While this marks the first major partnership between Uphold and Ripple, the former has been a vocal and active supporter of Ripple’s XRP token. 

Uphold continued to support the token when several industry platforms moved to delist XRP following Ripple’s legal dispute with the United States Securities and Exchange Commission (SEC). Earlier this year, the Web3 platform mentioned that it would not delist XRP due to the SEC’s lawsuit, which alleged the token is a security.

In recent months, Ripple secured three consecutive victories in its three-year-long case with the SEC. Most recently, the SEC voluntarily dropped all pending claims against Ripple top executives Brad Garlinghouse and Chris Larsen a few weeks after a federal judge denied the agency’s request for an interlocutory appeal related to a ruling that XRP is not a security.