In a recent interview, Ripple's head of liquidity products, Brad Chase, unveiled the fintech company's big vision for eCommerce: Ripple wants to turn every eCommerce company into a crypto company.
Crypto provides a two-fold opportunity to improve eCommerce and merchant payments, given its availability around the clock.
This is one reason why many eCommerce players and merchants are turning to crypto as a way to stand out in the landscape. Chase highlights the opportunities crypto — a digitally native global asset — brings to eCommerce.
The integration of cryptocurrencies presents enormous prospects for improvement in eCommerce and merchant payments, "not only from a customer acquisition and retention standpoint, but also from a back-end operational and payment infrastructure standpoint," according to the report.
Chase describes this as a two-fold opportunity and a significant shift.
Crypto payments have the potential to benefit eCommerce players and merchants in ways other than capturing payment flow efficiencies and cutting operational and settlement expenses.
Ripple Liquidity Hub enters discussion
In the interview, Chase gives the reason why Ripple is building products like Liquidity Hub: so that enterprises can "lean in and adopt crypto payments" without doing the heavy technical lifting.
As reported, the Liquidity Hub is gaining traction as more customers turn to Ripple to source cryptocurrency on demand for a variety of business purposes. Liquidity Hub assists businesses in optimizing crypto liquidity and gaining access to a broad network of global payout rails to speed up crypto transactions, treasury management and other applications.
Liquidity Hub is now available in new regions, including Brazil and Australia, as well as certain states in the United States.