A Ripple Labs Inc. former employee, Dilip Rao, has highlighted some key components of a financial system that is being developed by the Sans Francisco-based software enterprise company.
Dilip Rao, ex Global Head of Infrastructure at Ripple, said the blockchain firm’s talented team members are working on derivatives trading in digital assets, digital asset borrowing and lending.
He said Ripple is adding tools for institutional custody and trade, among other things into the financial ecosystem.
Dilip made the comments while responding to Breanne M. Madigan, Ripple’s Head of the Global Institutional Markets team and a formal employee of Goldman Sachs.
Breanne, who claimed to be an XRP holder, said Ripple believes proactive communication is part of being a responsible stakeholder. She made this comment after Ripple released a report on market and key highlights from Q4. Ripple published it Q4 quarterly XRP Markets Report to be completely transparent.
Key components of a new financial ecosystem being built by many, including @BreMadigan and her talented team @Ripple -derivatives trading in digital assets; digital asset borrowing/lending; tools for institutional custody and trade, etc. #Romewasnotbuiltinaday https://t.co/ueQEpWzD4r
— Dilip Rao (@diliprao) January 23, 2020
In the report, the firm mentioned that since the creation of XRP Ledger, the number of closed ledgers has gone beyond 51 million as of December, 2019. At the moment, there are over 150 known validators participating on the XRP network. Ripple’s sales of XRP dropped by 78%.