Ripple Launches New Loans Platform
Ripple continues to seal various partnerships and launches new products that can boost the crypto market.
It’s probably not too far-fetched to say that Ripple’s most important product so far is ODL – the On-Demand Liquidity that’s powered by the digital asset XRP and moves money across borders.
ODL was created to overcome all the flaws that have been plaguing the traditional payments system SWIFT that banks and financial institutions have been using for decades now.
Recently, Ripple’s Chris Larsen stated that XRP could definitely replace SWIFT with its technology, and people can benefit from cheap, fast, and secure cross-border payments.
Ripple brings a new product on the market
Ripple said that it’s bringing a new product to the market that’s centered on working capital lending.
In a new job listing, the firm said that they are looking for a director of product management to spearhead the platform.
“This person will bring a new loan product to market from concept to launch for RippleNet customers. This person will bring strong leadership skills as they will need to collaborate heavily with cross-functional internal teams and the financial ecosystem of partners and customers,” according to the notes from the official announcement.
So far, there are lots of companies that launched platforms that allow users to get loans using crypto as collateral – but this job listing doesn’t say whether XRP will be a part of the new offering.
According to Ripple’s notes, the new hire will determine how the company can serve new and prospective Ripple Net customers.
“[The product manager will] create the relevant structures to properly execute on a functional loan offering, develop customer empathy around problems related to working capital needs and cross border payments, [and] develop risk capabilities to properly understand how to price new loan offerings for customers.”
Check out more details in the official notes.
Larsen co-founded Ripple in 2012 and now fulfils the role of Executive Chairman. A long-standing advocate for financial privacy and education, Larsen and the Ripple Foundation gifted $25 million to San Francisco State University in April 2019.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.