Amid an ongoing lawsuit with the US Securities and Exchange Commission (SEC), Ripple moves to bring XRP Ledger to central banks.

 

Ripple’s step

The cross-border payments firm wants to hire managers with good knowledge of three central banks, one for each of its offices in San Francisco, New York and London.

Whoever fills the new positions will be tasked with designing and implementing central bank digital currency (CBDC) projects.

Ripple states that banks can issue stablecoins on XRP Ledger (XRPL).

“Created for payments, XRPL can also be used to support the issuance of stablecoins with a unique, exchangeable token function called Issued Currencies.

 

Stablecoin platform

Issued Currencies is designed to be the ideal stablecoin platform and provides simple yet rich management functionality for the regulator that makes it easy to create, organize and manage any assets, including stablecoins.

Last week, the Currency Supervisor Office (OCC) announced that banks could use stablecoin for payments while serving as a node on an independent node verification network (INVN).

Ripple, known for its high turnover, has now posted jobs for a total of 27 open positions. The company also recently hired Devraj Varadhan to serve as its new senior vice president of engineering.

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