Ripple (XRP) to launch loan platform and opens payment service in Kuwait

  • A job offer published by Ripple reveals that the company will launch a new lending platform. 
  • Ripple’s partnership with Kuwait Financial House (KFH) allows for the launch of payment services to Turkey.

Ripple has been unveiling initiatives that show its intention to diversify and find new use cases for XRP. A new vacancy announcement reveals that the company is preparing to launch a new capital lending platform. According to the publication, Ripple is looking for a product manager to lead the project. The offer reads:

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.

The announcement does not mention the use of XRP, but by seeking a person who can work with other teams, it is not ruled out that the platform involves the use of the token. After all, the product manager will have to know how to build a structure that revolves around capital lending, but also cross-border payments:

(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, develop risk capabilities to properly understand how to price new loan offerings for customers.

As reported by CNF, Ripple has published two vacancies that have sparked rumours about the launch of a “next generation trading platform”. The platform is supposedly based on Ripple’s On Demand Liquidity payment solution and XRP, but the company has not made an official announcement yet. It is also unclear whether the vacancy for the manager of the lending platform is related to this project.

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Ripple enables payment service to Turkey

Ripple’s partnership with Kuwait Financial House (KFH) is also paying off. The partners have announced a payment service based on RippleNet that will allow money transfers to be made directly to a beneficial account in the bank’s branch in Turkey.

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According to Walid Mandani, Chief Retail & Private Banking Officer, he said the financial institution has completed the technical requirements and testing needed to launch the service. KFH’s Chief Retail & Private Banking Officer added that details on how the service operates will be released soon. However, he was able to confirm that the service will be free and provided to the bank’s customers through its website or through the application for Android and IOS.

Finally, Mandani highlighted the benefits of using Ripple’s technology. He added that KFH customers will be able to make secure, fast and reliable transactions through a global network that allows for cross-border payments. Mandani said KFH is one of the first financial institutions to join Ripple and apply blockchain technology to stay at the forefront of innovation in terms of its payments services.

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About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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