Is Ripple looking to build a market-making platform for XRP?

Karthik Subramanian

Ripple, the global payments platform that created the digital asset XRP, is reportedly looking to launch a market-making platform for XRP though a spokesperson of the company who has denied any such plans for now.

This could be something that is still in the works at this point and so the company may not want to confirm this news at this time but the recruitment for the same seems to have started in Singapore and London where it is looking to launch with a 10-member team initially, as reported by CoinDesk.

It is likely to have a crypto trader who would be looking for arbitrage opportunities and a marketing and salesperson as well who would be engaged with the community and also with liquidity providers and exchanges as well.

Such a platform would help Ripple to manage the liquidity of XRP even if other exchanges are forced to give it up in the future. As has been repeatedly mentioned, there is the ongoing saga of a tussle between SEC and Ripple which has been played out in the courts with regards to the charge of its employees offering unregistered securities to the public in the US which is not allowed by law.

This tussle has been going on for a long and it remains to be seen what kind of outcome there would be for Ripple and what impact it would have on XRP in the long term.

This has led to the stopping of trading of XRP at the high-frequency trading firm Jump Trading and other exchanges like Coinbase also followed suit as they suspended trading as well. If this spreads and SEC continues to pound down Ripple, then it might lead to a situation where XRP is pulled off from most of the exchanges around the world and this would be bad news for the community.

So, it does make sense for Ripple to be looking to launch its own market-making platform for XRP so that it need not be dependent on other platforms and exchanges. Ripple is a global payments company while XRP is a digital asset that can be used for remittances and micropayments as well. Both of these could get affected if the SEC decides to continue pursuing its case against Ripple and its executives and if the court rules in its favor.

Read this next

Industry News

Robinhood posts strong numbers amid growth in funded accounts

Robinhood, one of the largest trading platforms in the US, has announced the results of the third quarter which shows some robust growth even though the company did not push ahead with any major plans related to crypto.

Inside View

MetaTrader 4 – What Is It?

MetaTrader 4 is the most widely used Forex platform among brokers. What are the platform’s primary features?

Digital Assets

BlockBank launches DeFi application with Robo Advisor

BlockBank, a large mobile banking platform, has announced the launch of its DeFi application which will combine decentralized finance with AI-powered technology to help traders and investors make better trading decisions in the crypto market.

Digital Assets

eToro announces crypto staking and underlying assets for Australians

Australian users opening cryptoasset positions on eToro can now purchase the underlying asset. Soon eToro will enable coin transfers from the eToro platform to the eToro Wallet.

Digital Assets

EQONEX announces international sales team to show off digital asset offering

“It is time to show the world the quality of the EQONEX group offering, and I am excited to welcome such a high caliber group of salespeople to the organization”.

Retail FX

Webull donates 8,000 Brooklyn Nets tickets to New Yorkers

“The entire Webull team is thrilled that our first-ever sports partnership is with the Brooklyn Nets, who are only five subway stops from our headquarters in New York.”

Digital Assets

AEX integrates with fiat and crypto custodians Banxa and Xanpool

Spot trading, flexible savings, DeFi mining, are several ways AEX Global allows users to participate in the wider crypto space.


Barchart launches Microsoft Excell add-in

“Whether looking to perform their own analysis, add other data sources, build macros or anything else leveraging the powerful features of Excel, we now provide that ability.”

Retail FX

Inceptial expands Belarussian FX broker into China and Japan

“We are fully aware of the needs, customs, aspirations and limitations of the different markets of Asia, after careful research. We look forward to sharing our success with our new Asian partners on this journey.”