Will Ripple Attempt to DeFi?
Yesterday, Ripple have posted an interesting new job offering for their San Francisco based office. The blockchain payment giant is apparently expanding & looking for a new Director of Product Management in loans.
The opening was published on GreenHouse a HR website, and Ripple's official website which confirms its authenticity. As per their post, here is what they are planning:
Ripple & Lending
While lending in cryptocurrency has been pretty much limited to Ethereum's DeFi ecosystem, it looks like Ripple is looking to take a piece of the action.
While not much is known about Ripple's aspirations for the future, this may not be a full-fledged move into banking. Seeing that banking would require a specific license, their lending project might be used in a different manner.
It could potentially be used as a way to facilitate XRP loans for payments on RippleNet as a Twitter user speculated. While this is very different than most DeFi protocols operate on Ethereum, it could help boost XRP's value.
The lending of XRP on RippleNet could potentially be a huge development for Ripple and XRP by extension.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado