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Ripple to launch loan product offering for RippleNet users



San Francisco-based blockchain company Ripple plans to introduce a new loan product offering for members of the RippleNet network.

Recent new job posting from the company suggested the news as Ripple is looking for a director of product management to bring the launch to reality.

The job listing states:

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.

 

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Ripple says the new product manager will oversee how the company can assist customers with working capital loans. He will be responsible for creating the relevant structures for execution of the loan offering, as well as developing the risk capabilities to understand how to price new loan offerings.

Working capital loans are usually need by small and medium-sized firms to fund their daily business operations.

Ripple has not yet elaborated on the new project but speculations have already occurred that the new loan product will work with the company’s On-Demand Liquidity (ODL) payment solution, which uses XRP. If the company uses XRP on a cross-border basis lending purposes, there will be a number of legal and regulatory hurdles, but the company might be able to wriggle its wave through it.


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Ripple to launch loan product offering for RippleNet users

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