Looks like a perimeter drain that goes around the interior floor of the basement.
To be sure, I would run water at every water fixture in the house to see if anything comes out. If it does, call a plumber.
If not, It is a drain for groundwater and should be continuously monitored during large rain events or meltoff from snow. If you want to install a sump pump for secondary protection you may sleep better, although it may never be needed.
I would make a cover for the hole out of something with no organic matter so it does not mold up on you. No carpet, wood or plywood. A peice of plastic that can hold some weight would work best. I often find that a piece of plastic under the plywood still gets mold.