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John Wang
May 13 22:00

Ripple is working on blockchain-based working capital loans

The company is looking for new management.
The blockchain payments company Ripple is working on a new loan feature aimed at helping the clients with their working capital credit. The information comes from the new job opening for a Director of Product Management, published on the company’s website.

Working capital credits are usually taken to provide support for the company’s operations. Most of them are short term-oriented. The introduction of blockchain can make the whole process faster and cut a lot of paperwork. It also provides more transparency between the sides involved. Ripple has a wide enough reach across big financial organizations, so the project might make a noticeable impact.
Just three days ago, on May 10, the Saudi Arabian RAKBank stated that it plans to use the RippleNet to make remittance payments to Bangladesh easier and faster. Ripple also recently entered partnerships with Korean financial institutions and Thailand-based DeeMoney, aiming to bring innovation to the regional financial market.