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Ripple unveils new details on new XRP-based trading platform

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  • Ripple has revealed information about a new trading platform that is rumored to be based on the On Demand Liquidity payment solution and the XRP token.
  • The new details are based on a job advertisement that was published on the Ripple website.

Ripple has had a tough few weeks as the company has had to deal with a number of new litigations affecting its executives and products. Bitcoin Manipulation Abatement LLC filed a lawsuit against Ripple, accusing the company of violating the US Securities Act. The lawsuit is similar to a class action that the company has been pursuing for several years. It is led by investors who are demanding compensation for losses allegedly incurred as a result of investing in the XRP token.

However, regardless of the above, the company continues to seek employees for a next-generation trading platform that is supposed to be based on the XRP token and On-Demand Liquidity (ODL) payment solution.

Next Generation Platform for the XRP token

As has now been announced, Ripple will continue to increase the number of employees for the new project. The latest vacancy is for a systems engineer, who must meet five requirements outlined by Ripple:

Build an enterprise grade, distributed trading platform that provides real-time access to crypto markets

Liquidity sourcing and aggregation, execution algorithm modeling and implementation

Prototype new solutions for complex software problems and implement them for production cloud deployments

Be a technical subject matter expert and share your expertise with a growing team of engineers

Work with teams across the organization, including product, information security and operations to think beyond the technical implications of your design decisions

From the announcement it can be deduced that the position offered by Ripple will be crucial for the development of the platform. The candidates must have experience in software development in the following technologies: Java, gRPC, event architectures (AMQP), service meshes, and others. In addition, candidates must have more than five years of practical experience in software development.

Already at the end of March this year, Ripple published a job advertisement stating that the company was looking for an Engineering Manager for On-Demand Liquidity. This person should connect the payment solution On-Demand Liquidity with the trading platform. The manager will work at Ripple’s headquarters in San Francisco and will also coordinate the entire code architecture.

The new trading platform is probably to be seen as part of Ripple’s initiative to increase the use cases of the XRP token. Recently Ripple has tried to do this through various acquisitions. In addition, according to David Schwartz, CTO, Ripple is working on a feature that allows companies to create their own tokens on the XRP Ledger. These will be tied to XRP or another currency. This will make it possible, for example, to output stablecoins based on the XRP ledger.