A new job opening at Ripple is revealing the company’s ambitions to build a trading platform connected to its XRP-powered cross-border payments solution, On-Demand Liquidity.
Ripple says it’s looking to hire an engineering manager to help build ODL and leverage the “superior speed, low transaction cost and scalability” of the crypto asset, XRP.
The job listing teases a “next generation trading platform” that will be integrated with ODL.
“We’re looking for an engineering manager to lead and shape the team responsible for the ODL customer experience, integration into our next generation trading platform and be a critical part of defining the future trajectory of On Demand Liquidity and RippleNet.”
The manager will work out of Ripple’s San Francisco headquarters and will spend at least 50% of their time coding and reviewing code, architecture and design.
It’s unclear exactly how the trading platform will work with ODL. Ripple chief technology officer David Schwartz recently revealed that the company is working on a feature that would let users launch asset-backed tokens on the XRP Ledger. In addition, Ripple acquired the Logos Network in September of last year. The decentalized payments startup is expected to help Ripple create decentralized finance platforms on the XRP Ledger.
“As part of Xpring, the Logos team will be leading an ongoing initiative to explore a decentralized financial (DeFi) system that will leverage XRP at its core, as well as other ideas we are exploring to leverage crypto to transform payments and finance. The Logos team will bring even more horsepower to what the Xpring team can deliver.”
Ripple launched ODL in late 2018. It’s designed to give banks and financial institutions a regulatory-compliant way to move money internationally by utilizing XRP.
ODL relies on crypto exchanges to accept cash and move the equivalent value in XRP across borders, where it can be converted right back to fiat currency. Ripple partner MoneyGram is the largest user of ODL, moving 10% of its daily volume between the US and Mexico using the technology.
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