Digital payments giant Ripple appears to be preparing to expand its network, acquiring an unnamed firm with proficiency in developing exchange platforms.
This week, XRP researcher Steven Diep uncovered news of the acquisition in a video entitled, Ripple – Improving our Global Payment Infrastructure with Blockchain Technology & Data Science, from June of last year featuring Ripple senior data scientist Jennifer Xia.
- “Notably, we recently acquired a firm whose expertise is in building trading platforms and in integrating with digital asset exchanges which is essential as we scale the business, enter more markets and start thinking about engineering more complex payment strategies.“
This is not the first clue that has surfaced indicating that Ripple may be gearing up to launch a novel trading platform.
Ripple posted a few job listings in 2020 indicating that the firm had intentions to engineer a vaguely defined crypto exchange.
In October of last year, Ripple was on the hunt for a senior software engineer for liquidity who would help “build an enterprise-grade, distributed trading platform that provides real-time access to crypto markets.”
Earlier, in May of 2020, the firm was seeking a liquidity staff software engineer and a separate job opening for an engineering manager. Both job listings directly mentioned the development of a new “enterprise-grade” trading platform.
It’s currently unclear whether the trading platform is for internal use or is part of a consumer product in development.