Ripple Planning to Setup Office in Silicon Valley of India

• Many Central Bank Digital Currency (CBDC) initiatives will be under supervision.
• Ripple has attempted to enter the Indian market before.

Blockchain Company Ripple is planning to create an office in the Indian city of Bengaluru. Ripple advertised a new position in Bengaluru: Senior Project Manager, Central Banks in the city. Ripple may be setting up an office in India, as shown by the job ad. Due to its reputation as India’s “Silicon Valley,” Bengaluru was a natural choice for the firm to locate its headquarters.

Core Focus on CBDC

An important responsibility of this position will be to manage the company’s partnerships with different central banks. Many Central Bank Digital Currency (CBDC) initiatives will be under the supervision of the selected applicant. In addition, the candidate will work closely with other Ripple divisions situated outside of India to develop solutions that will benefit the global financial system, even though the applicant resides in India.

According to the job description, the candidate may be based in Bengaluru, India, Singapore, the United States, or the United Kingdom. Ripple has attempted to enter the Indian market before. With Navin Gupta as its national manager, the firm announced the opening of Mumbai offices in September 2017.

At the time, CEO Brad Garlinghouse stated:

“India is transforming itself into a digital economy and is an innovative leader in payments. Our new office in Mumbai, led by Navin, will allow us to respond to the rapidly-growing demand for frictionless payments by our current customers, Axis Bank and YES Bank, as well as other bank and non-banks across the country,”

In a discussion at Wharton School of Business in 2018, Ripple’s Senior Vice President of Product, Asheesh Birla, discussed how Ripple gained a majority market share and established itself as a worldwide player. Indian financial institutions would be encouraged to join RippleNet, according to Birla.