Is Ripple going to give loans in the near future?
After the recent traces, we may conclude that a company offering a blockchain billing system is developing a new service to help entrepreneurs to loan a working capital.
Ripple added a new job offer on its official website a few days ago, looking for “Director of Product Management, Loans.”. The job description indicates that the company is currently working on its new product, the working capital lending service. Such loans are to be ultimately taken out by companies and support them in their daily operations at short notice.
The blockchain-based capital lending service most likely to be introduced by Ripple could reduce the amount of paperwork and improve the transparency of contracts between the parties and thus increase the efficiency and speed of use of loans.
Ripple’s large coverage in all major financial institutions and its entry into one of the ISO groups may be of interest to a large number of investors and companies that will benefit from efficient working capital loans.
Ripple’s innovative approach to finance
Ripple, founded in 2012 and headed by Brad Garlinghouse, offers fast and secure cross-border payments with the RippleNet money transfer network. The project brings together banks, payment providers and crypto exchanges to accelerate the transaction process.
Many financial institutions such as the Dubai RAKBank, Bangladeshi Bank Asia and Thai DeeMoney, among others, use RippleNet to speed up payments to their clients.
Not long ago, Ripple announced that it is the first member of the ISO group focused on distributed accounting records technology (DLT), thus becoming a member of the ISO20022 standardization body.
Is this the beginning of Ripple’s expansion and will they manage to transform the financial world with blockchain?