Ripple Seeks Business Development Manager to Propel ETF and Institutional DeFi Initiatives

Ripple Seeks Business Development Manager to Drive Institutional DeFi Initiatives

Blockchain payments company Ripple is on the lookout for a new hire who will support its efforts to promote the adoption of institutional decentralized finance (DeFi). In a recent job posting, Ripple announced that it is searching for a senior manager of business development. The role will involve identifying financial institutions and institutional investors interested in investing in tokenized real-world assets. The successful candidate will also oversee and expand Ripple’s portfolio of institutional DeFi accounts and contribute to the company’s exchange-traded fund (ETF) initiatives.

Ripple’s Focus on Institutional DeFi

Ripple, based in San Francisco, stated that it is increasingly investing in institutional DeFi and is creating this position in anticipation of sector growth. The company believes that institutional DeFi has the potential for widespread adoption within the financial services industry. Ripple is actively partnering with enterprises and institutions to develop solutions and use cases utilizing the XRP Ledger and its native digital asset, XRP.

Repurchase Plans and Share Buyback

Earlier this month, reports emerged that Ripple intends to repurchase $285 million worth of shares from early investors and employees. The company has allocated $500 million for this share buyback, as per sources familiar with the matter. This move is seen as part of Ripple’s strategy to strengthen its position in the market.

Hot Take: Ripple Expands Efforts to Drive Institutional DeFi Adoption

Ripple’s decision to hire a senior manager of business development demonstrates its commitment to advancing institutional decentralized finance. By focusing on institutions and investors interested in tokenized real-world assets, Ripple aims to drive adoption of institutional DeFi on the XRP Ledger. With its increased investment in this sector, Ripple anticipates significant growth opportunities. Additionally, the company’s share buyback plans indicate its dedication to strengthening its market position. Ripple’s ongoing initiatives highlight its determination to shape the future of finance through innovative blockchain solutions.