Ripple, the digital payments giant, appears to be preparing to further expand its network after acquiring an unnamed firm with experience and expertise in building trading platforms and integrating with different cryptocurrency exchanges.
Recently, XRP researcher Steven Diep uncovered a video entitled “Ripple – Improving our Payment Infrastructure with Blockchain Technology & Data Science. Published in June of last year, it features Jennifer Xia, Ripple’s Senior Data Analyst, and contains news regarding the unnamed firm’s acquisition.
Caption: News about Ripple’s acquisition of a development firm was uncovered.
In the video, Xia says that Ripple has recently acquired a firm with expertise in building trading platforms and integrating with digital assets and cryptocurrency exchanges. This will be essential as they expand the scale of Ripple’s business, enter different markets, and start thinking about engineering a more complex payment strategy.
Notably, this is not the first clue that hints at Ripple’s plans to make and launch a novel trading platform. Ripple also posted different job listings last year, which indicated that the firm had already planned to engineer a vaguely defined cryptocurrency exchange.
Moreover, in October last year, Ripple was looking for a senior software engineer for liquidity who would play a key role in “building an enterprise-grade [and] distributed trading platform” capable of providing real-time access cryptocurrency market.
The firm also sought a liquidity staff software engineer in May of 2020. The company also posted a job listing for an engineering manager at the same time. Both of the job listings had directly mentioned the development of the “enterprise-grade” trading platform on the job descriptions.
However, it is still unclear whether the planned “enterprise-grade” trading platform will be for internal use or accessible to most customers. Regardless, this new platform will definitely help Ripple’s trading issue after being delisted from several major exchanges in the United States.