Ripple CTO: RippleNet can be the first choice for institutions to make many different types of payments

According to the interview with BlockDown TV, Ripple Chief Technology Officer David Schwartz said Ripple is looking into whether they should provide decentralized financial services (DeFi) to institutional partners. In particular, Schwartz was also asked about the situation of Ripple’s network of banks and financial institutions five years from now.

CTO Ripple is exploring whether it should offer DeFi services to its institutional partners

CTO Ripple said:

“I hope RippleNet can be a one-stop-shop and the first choice for institutions hoping to make many different types of payments.”


Ripple Chief Technology Officer David Schwartz

Schwartz revealed the company is well structured to start offering new services:

“We’re also looking into offering other services through RippleNet – things like loans, or maybe even if DeFi grows, offering DeFi services to institutional partners. One of the unique things that Ripple has is we have our software in the transaction flow of all these financial institutions and banks, so we can develop some new product or services, or even something that comes from the DeFi space, and we can offer it immediately right into the transaction flow of those institutions.”

Schwartz’s comment is not the first sign of Ripple’s interest in DeFi. Last year, the company announced it had acquired Logos, a turnkey payment startup, to lead an ongoing initiative to explore a decentralized financial system that would promote XRP as the core.

Ripple has also posted job ads that hint at the company’s interest in building a next-generation trading platform. Ripple wants to integrate this platform into the cross-border payment solution provided by XRP, On-Demand Liquidity. Whether such a platform will be related to DeFi remains to be seen.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like