New Job Listing Indicates What Ripple Is Focusing On Next
02 September 2023 - 3:00AM
NEWSBTC
Following its partial victory over the United States Securities and
Exchange Commission (SEC), Ripple seems to be turning its attention
toward avoiding a repeat of such a lawsuit, as evidenced by its
most recent job posting. Ripple Wants Compliance Talent Ripple is
seemingly looking to improve its compliance with sanctions and
regulatory developments through a more proactive approach. To this
end, the payments processor is actively hiring talent to fill a
role advertised as “Web3 Specialist, Global KYC & Due
Diligence.” Related Reading: Here’s What Bitcoin Price The Bull
Market Will Start According To This Analyst The job which carries
an $85,000-$106,000 pay range is advertised to “be heavily focused
on carrying out due diligence to mitigate regulatory, reputational
and sanctions risks associated with Ripple’s institutional clients,
counterparties and corporate partners to ensure compliance with
Anti-Money Laundering (“AML”), Counter-Terrorist Financing,
Economic Sanctions regulations such as the Bank Secrecy Act (“BSA”)
and USA PATRIOT Act.” In light of these developments, Monica Long
of Ripple in the US recently articulated the company’s strategy,
saying, “We are very excited about this because we now have clarity
on how Ripple will conduct its business in the future. And we are
resuming operations in the US market.” This statement
signifies Ripple’s intention to continue its operations in the
United States. The recruitment also points to Ripple’s efforts to
mitigate regulatory violations following its 3-year-long battle
with the SEC. A Global Hiring Shift Reflects Ripple’s Ambitious
Expansion Ripple has been one of the leading crypto firms that has
continued to hire talent at a time when layoffs are the order of
the day in the industry. GlobalData, a data analytics firm,
reports that Ripple has increased its job postings by 26.9% during
January-April 2023 compared to the same period in 2022. While the
hiring trend in the US has declined slightly, Ripple has
significantly ramped up job postings in Canada, Poland, India, and
other countries. Sherla Sriprada, Business Fundamentals Analyst at
GlobalData, noted at the time, “Ripple’s decision to primarily hire
employees from outside the US reflects a strategic move towards
global expansion, accessing international talent while also
overcoming regulatory challenges in the US by diversifying its
presence in other markets.” Related Reading: Bitcoin Price Crashes
Below $26,000 As SEC Pushes Back On 7 Spot ETF Filings This means
that despite its commitment to remaining in the US market, Ripple
is actively going after talents in other jurisdictions. This points
to a strategy of worldwide expansion instead of focusing on a
single market. However, despite Ripple’s growth, its native XRP
token has continued to struggle in the market. Coinmarketcap data
shows that the altcoin is down 4.15% in the last day to trade at
$0.5038 at the time of writing. XRP price falls to $0.52 despite
expansion plans | Source: XRPUSD on Tradingview.com Featured image
from Unsplash, chart from Tradingview.com
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