Ripple plans to “hire a few hundred people” to address demand for XRP powered solutions

“Ripple has had a blockbuster year with ODL expansion & MENA traction, and we are gearing up to hire a few hundred people next year to fuel our growth”

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Ripple is on a roll. The blockchain specialist continues to expand its footprint across the globe with new institutional partners and new products powered by XRP, all while in the middle of a make or break lawsuit with the SEC.

To face the exploding demand for its blockchain solutions and the firm’s big plans for XRP, Ripple will be looking to add a few hundred people to its ranks, according to chief executive officer Brad Garlinghouse.

“Great to catch up with you @dan_murphy at #FTAD! Despite (regulatory) headwinds in the US, Ripple has had a blockbuster year with ODL expansion & MENA traction, and we are gearing up to hire a few hundred people next year to fuel our growth”, Garlinghouse tweeted.

The tweet mentions a recent interview with CNBC where he praised Judge Sarah Netburn, who is presiding over the SEC v. Ripple lawsuit.

Ripple has scored many wins throughout the lawsuit so far on account of Judge Sarah Netburn’s rulings. These include ordering the in camera review to ascertain the SEC’s privilege claims, which was a major blow for the plaintiff, as well as ordering the hearing of ex-SEC Commissioner William Hinman.

The SEC has also been ordered to explain a lot via requests for admission on many fronts, from XRP sales offshore to questions relating to the fair notice defense and whether the XRP ledger was “fully functional” when the sales took place in 2013. The Hogan attorneys offered their analysis on this major win for Ripple.

Judge Sarah Netburn is currently hearing experts witnesses as part of the expert discovery, which is why there has been a lack of news relating to the lawsuit.

“I am certain that each side, in this case, have listed numerous experts and they will be explaining all the technical aspects of the case to the judge and we can expect each deposition to last all day and each expert must prepare a report of his or her opinion and I wouldn’t be surprised if there are 10 to 15 experts in total on this case. So when adding it all together that’s a lot of work going on right now in the case behind the scenes”, said attorney Jeremy Hogan.

The SEC v. Ripple has put Ripple under the radar for both investors and prospective clients, it seems. The lawsuit is no longer causing hesitation among clients as they look to join the network, gain access to XRP-powered liquidity, or develop their own national digital currency.

This is the case with the Republic of Palau, which has decided to partner with Ripple as the country looks into developing its own central bank digital currency (CBDC).

Ripple announced the partnership yesterday, which will focus on strategies for cross-border payments and a USD-backed digital currency for Palau.

“This could see the implementation of the world’s first government-backed national stablecoin in the first half of 2022 for which Ripple would provide Palau with technical, business, design and policy support”, said the statement.

“Meanwhile, exploring a USD-backed stablecoin and associated use cases—such as a corporate registry—on the XRP Ledger could provide a viable alternative to central bank digital currencies (CBDCs) for countries like Palau.”

Palau President Surangel Whipps Jr. said: “As part of our commitment to lead in financial innovation and technologies, we are delighted to partner with Ripple. The first phase of the partnership will focus on a cross-border payments strategy and exploring options to create a national digital currency, providing the citizens of Palau with greater financial access.”

James Wallis, VP of Central Bank Engagements at Ripple, commented: “We are excited to be working with Palau to achieve its financial and climate-related goals. We have a wonderful opportunity to bring together our technology and experience with the unique characteristics of Palau to make a real economic and social impact for the country.”

To date, more than 5,400 currencies have been issued and traded on the XRP Ledger via its integrated decentralized exchange (DEX) and custom token functionality.