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Ripple Ventures into Lending to Offer Loans to RippleNet Customers

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Wed, 13/05/2020 - 6:04
Ripple Ventures into Lending to Offer Loans to RippleNet Customers
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San Francisco-based blockchain company Ripple plans to introduce a loan product offering for members of the RippleNet network.

According to a recently published job posting, the blockchain decacorn is looking for a seasoned director of product management who will help to bring its loans ‘from concept to launch.’

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Spearheading a new product

To develop its new project, Ripple says that it needs someone with ‘strong leadership skills’ who will be able to collaborate with the company’s expansive list of customers.

When it comes to the required skill set, Ripple is looking for a person with at least five years of product management experience who is familiar with the ins and outs of lending (scaling, pricing, regulatory requirements, etc.).

The new hire will be directly responsible for launching and properly executing a ‘functional loan offering.’  

According to popular job recruitment site Ladders, which focuses on high-profile offers, the candidate will be able to get up to $250,000 per year.

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Branching out

By venturing into lending, Ripple is shifting away from its sole focus on cross-border payments.

Back in February, the company’s CEO Brad Garlinghouse said that Ripple could branch out into other industry niches, comparing it to e-commerce giant Amazon:

We want to make sure that we are winning in cross-border payments before we do another verticle.      

As reported by U.Today, the RippleNet network surpassed 300 clients back in 2019, which was the strongest year for the blockchain payment giant. 

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