Blockchain payments firm Ripple is looking for a new hire who will support its bid to drive the adoption of institutional decentralized finance (DeFI).

In a new job posting, Ripple says it’s headhunting for a senior manager of business development to help the firm look for financial institutions and institutional investors who are keen on investing in tokenized real-world assets.

The recruit will also manage and grow Ripple’s portfolio of institutional DeFi accounts as well as play a role in the company’s exchange-traded fund (ETF) initiatives.

Says the post,

“Institutional DeFi is critical to our mission of global financial equity and growth and we are looking for a dynamic and growth-oriented Senior Manager of Business Development to join the Ripple X teams to drive adoption of Institutional DeFi on the XRPL (XRP Ledger).”

The San Francisco-based company says it is increasingly investing in institutional DeFi and it is opening the position amid anticipation that the sector will grow.

“Institutional DeFi is poised for massive adoption by the financial services industry and Ripple is actively partnering with enterprises and institutions to develop solutions and use cases, leveraging on the XRP Ledger and its native digital asset, XRP.”

Earlier this month, reports surfaced that Ripple wants to repurchase $285 million worth of company shares from early investors and employees. Citing two sources familiar with the matter, Reuters reported that Ripple Labs is setting aside $500 million for the share buyback.

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Author: Rhodilee Jean Dolor

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